Last year, 79,000 British people emigrated from Britain.
People leave for many reasons. One popular reason is work.
And many others re-locate (permanently or temporarily) to other parts of the country.
In each scenario, selling property for job relocation is rarely easy.
Does job relocation force you to sell your house?
This depends on several factors, including:
- Whether or not your new job/role provides accommodation
- Your ability to financially maintain your existing property from abroad
- The duration of your stay relocation period (& your plans afterwards).
How quickly do I need to sell my house when relocating?
If you are being transferred within the same company, your workplace should indicate a time frame for starting your new role.
The average time to sell a house in the UK is 25 weeks. So, most employers will bear this in mind.
However, this time varies according to:
- Property type
- Location
- Market conditions.
Selling to move abroad brings its own challenges.
There’s a chance your property won’t find a buyer in time. Or your sale will fall through.
And buyers who know your situation may use it to their advantage during negotiations.
This could put you in financial jeopardy. It’s worth speaking to your workplace about this and finding a compromise.
(In a worst-case scenario, you could speak to a solicitor for guidance on whether your rights are violated.)
If you are re-locating abroad for a new job, you might still need to sell quickly to seize a new job’s start date.
Leaving your property empty
You might leave your property empty while you wait to sell it or return from abroad.
If you do, arrange for someone you trust (or pay) to visit it regularly. They can check that no issues that will cause property damage appear.
And their presence will deter squatters.
Consider renting
It’s worth renting your property out if your relocation is not permanent.
However, bear in mind that landlords have certain responsibilities.
So, you’ll likely need to hire a letting agents to handle it. And you will need to change your residential mortgage to a buy-to-let one.
What happens if I struggle to sell my house when relocating?
You can’t always control market activity. And this may force you to explore other options.
A reliable cash-buying company can buy your property within a few weeks.
You could also speak to your employer about the predicament. Many organisations help employees handle relocation issues.
Failing to sell your house could mean you don’t have the funds to live in your new location. This can put you in a predicament.
Does my employer need to help me with selling my house?
Sometimes, your employer will offer to support you with a house sale.
This is common if you’re relocating due to work.
However, they aren’t legally required to do this (unless your contract states otherwise).
