10 Expenses Employers Typically Cover When You Relocate Out of State

Finding a job in a tight market isn't always easy, which is why so many professionals are considering offers that would require them to relocate to another state in order to accept the position. Leaving your home and the life you've established behind may be an emotionally-charged situation, but there are some things that your employer may offer that could soften the blow. In addition to any sign-on bonuses you're able to negotiate, these are ten of the expenses that most corporations will consider paying for a relocating recruit.

1. Lease Cancellation Fees – If you're a renter with a significant portion of your lease remaining, most employers will willingly fork over enough cash to cover any cancellation fees that you'll incur as a result of terminating or failing to satisfy the full term of the lease.
2. Home Sale Assistance – Corporate employers understand that an unsold house must still be paid for and mortgage payments must be made, which is why so many offer assistance programs to help facilitate the sale of your home.
3. Down Payment Assistance – Coming up with ten percent of the asking price of a new home isn't always easy on short notice, so your new employers may offer some sort of down payment assistance programs to help make that purchase a reality. Executives with a mortgage to pay are less likely to quit their jobs, so employers are usually eager to make the purchase of a home a reality.
4. Compensation for Selling at a Loss – The housing market is beginning to show signs of life in many areas, but it hasn't completely recovered in every corner of the nation. If you're forced to sell your home at a loss, having short-sale compensation written into your employment agreement can help to offset that loss.
5. Guaranteed Buy-Out Programs – Homes just aren't selling like they used to, and it's not always guaranteed that a house will move in a down market. Absorbing the cost of your home through a guaranteed buy-out program is a write-off for big corporations and can give you the peace of mind you need to close the deal on an out-of-state job.
6. Realtor and Closing Cost Assistance – Aside from the actual purchase price of a new home, you'll also be saddled with Realtor fees and closing costs. Some corporate entities will offer assistance to new employees that are relocating for a choice position, so you should inquire about these programs before accepting the position.
7. Travel Costs to Find a New Home – Finding a place to live in your new city will require at least one visit for house-hunting purposes, and you shouldn't be expected to shoulder those expenses yourself. Many employers will offer compensation for a reasonable level of expense incurred as a result of looking for a new home.
8. Shipping and Packing Services – The hiring and payment of a professional moving company is one of the more common expenses absorbed by an employer when a new employee has accepted a position that requires them to relocate. Even if down-payment assistance and guaranteed buy-out programs aren't available, shipping and packing compensation almost always are.
9. Temporary Housing – If you choose to spend some time in temporary housing after your arrival in order to find a permanent home instead of traveling to tour new homes beforehand, you will probably have access to corporate or executive housing near your place of employment intended specifically for such purposes.
10. Transportation Costs – Whether you drive or fly, you'll have to make the trek to your new home somehow. Like shipping and packing costs, this is one area that almost all employers will offer some sort of reimbursement or compensation for.

All companies are not created equal, so relocation compensation packages tend to differ from one employer to another. Don't accept a job offer under the assumption that your expenses will be covered, as you could find yourself stuck with the bill when all is said and done. Make sure that you have a clear understanding of what you'll be compensated for before you start spending money that you may not recover.

Resources:
http://www.zillowblog.com/2012-01-18/relo-101-%E2%80%93-what-you-should-...
http://www.ehow.com/info_8301625_moving-expenses-paid-employers.html