After all the announcements and the corporations drive to house under the company’s roof… I’m relocating and using Cartus. I need to sell and rebuy, but the Cartus Like 4 like valuation seems off by 10-15%… jeopardising the move as I need to contribute more and increase my mortgage to get a similar or lesser property. Anyone else experienced this Cartus lowballing?
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Makes sense
My experience has been that appraisals are lowballed and it’s much worse for homes with fewer direct comps. If you may use the relocation benefit in the future, never buy a unique property, a property in a mixed or eclectic neighborhood (Montrose, Midtown, Heights), or the most expensive home in an established neighborhood.
The appraisers know who pays them. One flat out told me he was motivated to low ball the price of my home to keep his contract with cartus. Everything Exxon Mobil touches is corrupt.
@aq two appraisal’s not to. It changed it after I typed it and I didn’t proofread it.
They have to appraisal’s and average them if they are within 10%. If they are more than 10% they will do a 3rd one. They give you a list of approved appraisers to pick from. Maybe your home isn’t as valuable as you would like. Mine appraised at what I thought it should be.
Do the math on how much walking away from your old interest rate compared to your new mortgage interest rate is going to cost you. It will make you cry. No compensation for that huge financial penalty. Another reason why everyone should just refuse to ever leave Houston. Expat assignments and domestic relocation are big money losers right now.
The relocation program is a joke. They also got rid of the 3% sales incentive.
Did you have to use appraisers from Cartus’s? It’s been years since I got similarly sc--wed, but everyone should be aware that Cartus keeps appraisers on the list that reliably appraise in their own favor. If you take the buyout and the house ultimately sells for less, that loss gets passed on to EM. They work for EM HR, not for you.
Cost cutting everywhere… someone in HR gaining RGP from cost saving initiative