Moving For Work? Here’s Your Complete Relocation Checklist

One of the most common homebuyer scenarios today is a family or individual moving for a new job or relocating for a current one.

If you’re in this situation, there are many considerations to make and steps to take to ensure you have a smooth, straightforward experience from start to finish.

What's in this article?

Research housing locations
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Find a mortgage lender and get pre-approved
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Coordinate with a real estate agent
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Establish a moving timeline
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Set a budget
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Develop a packing strategy
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Make an offer on your property
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Finalize your loan
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Close on your loan
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Update your address
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Apply for pre-approval today with Compass Mortgage
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In this relocation checklist, we have outlined what you need to do when you’re moving for work, from researching housing locations to applying for pre-approval with a mortgage lender.

Research housing locations

Once you receive the big news about your job, your first step should be to head online to research housing locations.

Using Zillow, Realtor.com or a similar online real estate marketplace, start looking at homes in the areas you’re moving to.

This will give you an idea of your options, including one of the most important factors: home prices.

Your initial online research will help you communicate with your mortgage lender and real estate agent about your situation, needs and preferences and will help you establish a budget.

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Find a mortgage lender and get pre-approved

Once you have an idea of the location and what you think you can afford, connect with a trusted, reputable mortgage lender.

Begin by chatting with that lender about your situation for guidance and support, or head straight for the next step: applying for pre-approval.

Pre-approval will offer you valuable insights into what you can afford and what loan options are available to you based on the personal and financial information you provide.

Compass Mortgage takes pre-approval one step further by offering our distinctive Get Commited® program, which provides a fully underwritten loan commitment and locks in your interest rate before you make an offer on a home.

Coordinate with a real estate agent

Next, you’ll want to connect with a real estate agent who is an expert in your relocation area.

This person will offer you valuable insights into the current market and will likely be able to come up with creative solutions to your needs based on their experience.

They also will help you communicate with home sellers, and craft an unbeatable offer backed by your pre-approval (or loan commitment).

Establish a moving timeline

Coordinating the mortgage process with your moving timeline can be challenging. 

This underscores why it’s important to work with a lender who will be transparent about the process and who is an expert communicator.

Determine your moving process and options as soon as possible, including using a moving company or self-move options. 

Additionally, maintain open communication with all parties to ensure you have completed the required steps on your end to keep making headway.

Set a budget

Make sure you have an established moving budget, as well as savings for your down payment, closing costs and fees, as well as an emergency fund.

During the loan approval process, it’s important to not make any large purchases or open new accounts. 

Your pending loan is based on your current finances, so making any major changes can affect your approval in an adverse way.

Of course, it can be difficult to refrain from making large purchases while you’re in the process of moving. Make sure to discuss your needs with your lender so they can advise you on the best course of action.

Develop a packing strategy

Often, it’s most helpful to go room by room and make detailed lists of what you intend to do with the items, such as packing, selling or donating them.

Organization and detailed lists are key to a smooth, successful moving process, including keeping up with important documents and appointments with your mortgage lender or other key players.

Make an offer on your property

With your Get Committed® letter in hand, your real estate agent can help you craft an unbeatable purchase offer.

Get Committed® allows you to put the most attractive offer on the table, even if it’s not the highest one.

This is because a loan commitment essentially has the power of a cash offer, showing the seller you’re fully approved financially and your deal isn’t likely to fall through.

Finalize your loan

Once your offer has been accepted, you will work with your mortgage lender to get final approval for your loan.

Compass Mortgage’s Get Committed® program makes this process simple because at this point you have already gone through most of the steps in the loan process to secure your loan commitment—including resolving any financial requirements.

This means that the only conditions left to clear are for the property you’re purchasing. You can close on the loan in as fast as 15 days!

During this step, make sure you’re in close contact with your lender in case they need additional documentation or clarification. 

The last thing you want to do is hold up the process by neglecting to answer a quick question for your lender to allow them to move ahead.

Close on your loan

Once all conditions are satisfied, the lender will grant final loan approval.

You’ll receive a Closing Disclosure, which details the final loan terms, and schedule a closing date with all involved parties.

Finally, at closing you will sign all loan documents, pay your closing costs and fees, and get into your new home!

Update your address

Don’t forget to update your address with all necessary companies, friends and family.

Use a handy change-of-address checklist like this one to help you stay organized and make sure you don’t miss anything.

Apply for pre-approval today with Compass Mortgage

At Compass Mortgage, we treat you like family. Together, we’ll find the most affordable loan for your home.

With our team, you can expect a simple, personalized loan process backed by the power of technology.

We promise to be your partner and advocate throughout every step as you make this major life transition.

Get Committed® and get started with Compass Mortgage today.

Photo by Ketut Subiyanto

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