If you are getting a relocation package from your new employer there will likely be a number of services provided to you, including relocation assistance, temporary living expenses, and if you own a home, possibly a buyout.

A buyout may be structured in a number of ways depending on the company, it's relocation practices, and the level of your position.

In general, this means you will be given an opportunity to sell your home using an agent (and the relocation company may choose who that person is for you) for a period of time, but if the home does not sell (say within 90 days), the relocation company will buy it. They will typically conduct an appraisal to determine market value, and then the buyout will be a percentage of the market value (maybe 100% if you are an executive, but likely less). Specific terms and conditions will vary from situation to situation.

It is essential to understand the specific terms and conditions of a buyout so you are prepared to move ahead knowing what your options are, and how much money the buyout is worth to you. This can potentially impact your taxes for the following year, the amount of equity you have for a new home, and so on.

If the market is slow a buyout could be a good thing since you may not be able to sell otherwise, but you may also be sacrificing some money, especially if you have not lived in your home for very long.

So do your homework and research.

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