What you need to know about relocation

Perspective: RELO packages can vary

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Companies often hire employees from out of the area or transfer existing employees to another office. When this happens, a relocation package — or RELO as it’s known in the real estate world — may come into play.

Usually a third-party RELO company handles nearly all aspects of the employee’s home sale on behalf of the employer. In brief, RELO packages offer financial incentives to employees who must sell their current home and buy a new one in the city to which they’re relocating.