• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Relocation Clause?

Status
Not open for further replies.

NancyG

Sophomore Member
Joined
Mar 22, 2004
Professional Status
Certified Residential Appraiser
State
New Jersey
In reading a MLS listing of a home I'm appraising tomorrow the first line under the description says, "Relocation Clause in Effect." I have read the contract and the only thing I see at the end of the contract an asteric (*) with something about a NRT addendum and NRT disclosure. I noticed the contract was not signed by the seller.

I searched the archives and I found nothing. Can anyone help?
 

Mztk1

Senior Member
Joined
Dec 3, 2006
Professional Status
Certified Residential Appraiser
State
Florida
A relocation clause in a lease is when the landlord retains the right to relocate a tenant to another office or store within the building.

The only thing I can think of for a SFR sale is that the relocation clause is just a mixed up way of saying the seller has a guaranteed buy out bya relocation company if the house does not sell within a certain amount of time. So maybe the listing is trying to tell you that the relocation company is in the process of taking possession or already has. Search PR for the transaction and if you don't find it ask the agent whether there has been a transfer to the relo company.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks