Selling house for job relocation North Carolina

Relocating for a job and need to sell your house quickly? We specialize in fast and hassle-free home sales and have created a guide for tips on how to successfully sell a house for job relocation. Contact us today and receive a cash offer in your hands in less than 24 hours!

Table of contents

1. I’m relocating and need to sell my house in North Carolina
2. Selling a house for job relocation North Carolina
3. What to consider before selling house for job relocation North Carolina
4. When to sell your home for job relocation North Carolina
5. Tips when selling a house for job relocation North Carolina
6. Options when selling a house for job relocation North Carolina
7. Conclusion: Selling house for job relocation North Carolina

I’m relocating and need to sell my house in North Carolina

In this article we discuss what considerations homeowners should consider when preparing to relocate due to a job transfer or other life change. Learn insights on renting vs. selling and the fastest and most profitable way to sell a house in this market.

Moving can be a pain in the you-know-what! Especially when you’re under a time crunch. Coordinating a relocation with a deadline adds an extra layer of complexity. From managing job responsibilities and school transfers to packing up your entire life, arranging moving trucks, and rallying support from friends and family (cue the pizza party), there’s a lot on your plate.

It’s not uncommon for us to hear from North Carolina homeowners in this situation, urgently seeking to sell their homes due to relocation needs. Whether it’s a job transfer looming, divorce, military PCS, or simply the need to expedite a sale before moving, we’re here to assist.

We’ve been helping North Carolina homeowners sell their home due to job relocations for nearly a decade. We have the ability to either buy your house for cash or list your house for top dollar.

In our experience, relocations often coincide with significant life changes. With so much happening at once, it’s easy to feel overwhelmed, trying to keep track of numerous details while managing emotions and stress levels. As you contemplate your job relocation, here are some key considerations to keep in mind.

Selling a house for job relocation North Carolina

For many individuals, a job relocation often involves not just transitioning to a different profession or assignment but also relocating to a new state or even a different country. While the prospect of starting fresh in a new city can be exhilarating, the practicalities of moving can pose significant challenges, particularly if you’re on a tight schedule and own a home.

When it comes to selling your house for a job relocation, homeowners typically have three primary options to consider: enlisting the services of a real estate agent and listing the property, selling directly to a cash buyer or real estate investor, or keeping the house as a rental property.

Committing to a job relocation also entails committing to the process of selling your home, unless you intend to be a landlord. To help you navigate this transition smoothly, we’ve put together a comprehensive guide that outlines key considerations to bear in mind before selling your house for job relocation, as well as the various options available to you during the selling process.

What to consider before selling house for job relocation North Carolina

Home value

If you’ve recently purchased your home, chances are you haven’t accrued much equity yet. Therefore, before making the decision to sell your property due to a job relocation, it’s crucial to ensure that its current value is sufficient to cover the remaining mortgage balance as well as the expenses associated with selling a house.

Keep in mind that you may incur costs for repairs, staging, and marketing the property. Additionally, while the house is still on the market, you’ll be responsible for ongoing expenses such as property taxes, insurance, and utilities.

In addition to these expenses, you’ll also need to budget for closing costs, which typically range from 6% to 10% of your home’s value, including the commission fee for your real estate agent. This can be a significant sum to deduct from the proceeds of your home sale.

Managing these fees can be challenging, especially if you’re also in need of purchasing a new home in a different city.

To prepare for this financial transition, it’s advisable to determine the precise value of your home through a professional home appraisal or comparative market analysis (CMA). This will enable you to establish a realistic asking price when you list your house for sale due to a job relocation.

Job relocation packages

Many companies offer job relocation packages as part of their efforts to retain employees. The specifics of relocation assistance can often be negotiated, depending on your role within the company. Typically, these packages include provisions for:

In some cases, premium job relocation packages may even involve the company purchasing a new home for you. Therefore, it’s highly advisable to engage in negotiations with your new employer regarding relocation benefits.

Once you’ve determined the components of the job relocation package offered by your company, you can adjust the selling price of your property accordingly. This ensures that you’re adequately prepared for the financial aspects of your relocation.

Capital gains tax

If you sell your home as a result of a job relocation, you may have the opportunity to avoid paying capital gains tax on a significant portion of the profit from the sale. For individuals filing as single person, this exemption can reach up to $250,000, while for married couples, it can extend to $500,000. To qualify, you must demonstrate that you have owned and used the property as your primary residence for at least two of the last five years.

If you find that you’re not eligible for this full exemption, you may still qualify for a partial exclusion of capital gains.

Are moving expenses tax deductible?

The Tax Cuts and Jobs Act of 2017 brought about changes regarding the eligibility for claiming the moving expense tax deduction. For the majority of taxpayers, moving expenses are no longer deductible, meaning this deduction cannot be claimed on federal returns. This alteration is expected to remain effective for tax years spanning from 2018 to 2025.

However, certain exceptions apply. If you need to amend a previous return prior to the tax reform enactment, or if you are an active member of the military and meet specific criteria, you may still qualify for this deduction.

Understanding the local real estate market

It’s important to understand your local real estate market to aid in the timing of your move. When the real estate market is hot, it can lend itself to a more last-minute planner. However, when the market has cooled, there is significant planning that goes into timing the sale of your home with the purchase of a new home.

As of the second quarter of 2024, the median days on market in North Carolina is 51 days. This is the median amount of days it takes a listed property to go under contract. In most cases, this buyer will need an additional 30-45 days to close. So, depending on your local real estate trends, you may need to plan to have your house listed several months in advance of your move if you want your closing to align with your next purchase. Consulting a local real estate agent can provide valuable insights into expected timelines.

Planning your next home purchase

Prior to selling your property and moving for your dream job, it’s essential to plan for your living arrangements post-sale. If the closing occurs weeks or months before your job relocation, you could face homelessness. To prevent this scenario, it’s crucial to plan ahead by initiating the search for a new home in your new location while selling your current property. Ask your employer to introduce you to a local buyer’s agent in your new location to ease the burden of finding a new home.

When to sell your home for job relocation North Carolina

Before you move

Selling your house before a job relocation entails listing it on the market or selling it to a cash buyer or real estate investor prior to your move, which offers several advantages. Firstly, you’ll likely receive more offers and achieve a more competitive sale price. Additionally, having sold your house beforehand gives you extra time to explore your new location and find a suitable new home. With the funds from the sale available for a down payment, purchasing a new house in a new city becomes notably less stressful.

After your move

In certain circumstances, you may find yourself selling your previous home after relocating, leading to owning two homes temporarily and potentially straining your finances with dual mortgage payments. Selling a property post-relocation often involves managing the sale process remotely, necessitating frequent travel back and forth, which can prolong the selling timeline and add stress during your adjustment to a new life.

However, it could offer some advantages such as being able to market your home as a vacant and empty house. This will allow more showings and vacant houses can potentially show better than a lived-in property to prospective buyers.

Tips when selling a house for job relocation North Carolina

Set a realistic price

Many homes linger on the market longer than necessary due to improper pricing, often stemming from an asking price significantly exceeding their fair market value, driven by sellers aiming for higher profits.

To expedite the sale process, particularly in cases of new job relocations, it’s crucial to set a realistic price. This can be achieved by seeking assistance from a professional appraiser or requesting a comparative market analysis (CMA) from your real estate agent. During a CMA, real estate professionals evaluate comparable homes (comps) or recently sold properties in your vicinity, considering factors such as structure, size, and amenities, to determine an accurate pricing strategy.

Get a home inspection

There are numerous benefits to having your home inspected before listing it on the real estate market, with the primary advantage being the opportunity to address any potential repairs proactively. By doing so, you can ensure that no issues arise during the buyer’s inspection, thereby avoiding any obstacles that could jeopardize the deal.

Conduct necessary repairs

When you address repairs, potential buyers are less likely to negotiate for a lower selling price. Additionally, you can justify listing your home at a higher price point as these repairs will enhance its fair market value. If conducting repairs are not feasible for you, we recommend contacting a cash home buyer who buys houses as-is or reducing the list price when marketing the property.

Enhance curb appeal

Enhancing the visual appeal of your property can draw in a larger pool of prospective buyers. Frequently, these buyers will drive past the properties they’re interested in, and if they’re pleased with the exterior presentation, they’re more inclined to explore the interior.

According to a recent HGTV article on how to boost your property’s curb appeal, prioritize tasks such as cleaning, applying a fresh paint job, landscaping to spruce up the yard, and addressing any necessary roof repairs.

Clean and declutter

Given your job transfer necessitating relocation, it presents an opportune moment to pack your belongings and place them in storage before listing your home for sale. This strategy can significantly influence the number of offers you attract, as prospective buyers often seek to gauge the available space within a property.

If you possess a considerable amount of belongings, consider enlisting the assistance of professional movers or a junk removal service. Alternatively, if you opt for a do-it-yourself approach, prioritize sorting through your possessions and donating items you won’t be transporting to your new location.

Following the organization of your belongings, undertake a thorough deep cleaning of your home. Eliminating dust and ensuring the absence of pests are essential steps to presenting a pristine environment to potential buyers.

Options when selling a house for job relocation North Carolina

Sell with a real estate agent on the open market

If you have ample time before your relocation and aim to maximize your property’s sale value, opting for the traditional selling approach, hiring a real estate agent and listing the property is advisable.

Qualified real estate agents proficient in locating potential buyers for homes sold due to job relocations can assist you in this process. However, if time is limited and your budget doesn’t allow for significant repairs—particularly if you need to finance a new home—this method may not suit your circumstances.

Sell to a cash home buyer or investor

Selling to a cash buyer or real estate investor becomes advantageous when time is limited for your move, the job relocation package lacks competitiveness, or your property is in poor condition.

With cash buyers and investors, you can swiftly close the deal in as little as seven days, as they often present a fair cash offer within hours—significantly faster than the months required for repairs, staging, and marketing. Additionally, you can bypass the hassle of open houses and constant cleaning.

Furthermore, these buyers purchase homes in as-is condition, regardless of major repairs needed, such as foundation or roof issues, offering convenience. However, the potential downside lies in possibly receiving a lower net profit compared to a traditional sale.

Nonetheless, if your property necessitates extensive repairs that would require significant investment before listing it on the market, selling to cash buyers or real estate investors might still result in a higher profit.

Alternative: Keep it and rent it out

In some cases, renting your house can be advantageous especially if there is a chance you could be relocated back to the area. If your location has a growing rental market or if your house has amenities that many renters like, such as a pool, a large backyard, or a great location, renting your house could be a feasible option.

However, managing a rental property from afar can be stressful. As a long-distance landlord, you’ll need to secure a reliable tenant to maintain the property, necessitating the hiring of a property manager to oversee any issues or upkeep. Additionally, you’ll be responsible for ongoing expenses such as property taxes, insurance, HOA dues, and managing two mortgages.

Beyond these challenges, landlords must ensure their rental contract complies with state laws and accurately documents tenants’ rights, adding further complexity to the process.

Conclusion: Selling house for job relocation North Carolina

Relocation can can be an exhilarating experience, particularly when it accompanies an exciting career change. However, selling your home due to other life changes can introduce additional stress.

You might find yourself contemplating whether to retain or sell the property. It’s crucial to take action in order to avoid the situation of maintaining a vacant house, as it serves no one’s interests. Vacant properties incur expenses rapidly, and deferred maintenance can quickly accumulate.

Throughout this article you’ve gained insight into the various factors to consider when selling a home due to job relocation. We’ve explored your options for selling, whether through traditional listing or by engaging a real estate investor.

If time is limited and you prefer not to manage a home sale from a distance, exploring a cash offer from a reputable house buying company could be a viable solution.

These findings apply to all cities and towns in North Carolina, including Raleigh, Durham, Fayetteville, Johnston County, Sanford, Burlington, and surrounding areas.

Author: Jason Hill

I am a seasoned real estate agent and investor with nearly a decade of experience helping families sell a house for job relocation in North Carolina. As the founder of Freedom Choice Realty & Investments my mission is to deliver simple and hassle free selling solutions to North Carolina homeowners. With the ability to either list your house or buy it as-is we have a unique offering that caters to those looking for quick and easy ways to sell a house for job relocation in North Carolina.