September 25, 2009, Newsletter Issue #159: Relocation Package

Tip of the Week

A relocation package is sometimes offered by a company that has hired you for a new position in a new city or it is offered by a company you currently work for who is transferring you to another city to work. If you are lucky and the company you are working for offers a relocation package, the following may be included in your move to make moving a little less stressful.

Selling your home. If you have to sell your home to move, many companies will hire the realtor and put your house on the market. If your home doesn't sell in an allotted amount of time, your company may offer to buy the home from you without you losing any money on it. This type of buyout is actually beneficial to you if the real estate market in your area is slow.

Buying your new home. A company may pay for closing costs in your new home. If you are being relocated you may want to consider trying to negotiate this into your relocation package should it not be in there. It can save you thousands of dollars in out-of-pocket expenses.

Moving expenses. Many companies offer full moving expenses in relocation packages. This means you will not have to pay a dime to move your belongings- someone else may even come pack and load for you as well. Other companies may offer money towards a truck rental or Upack service to move.

These are just some of the perks of having a relocation package when moving for a career change or promotion. If a relocation package isn't included in your move, try to negotiate one that is beneficial to you and your family.

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