I would definitely go with a reputable agent from a well known company if it's your first house. You want someone looking out for your interests, not those of the company holding a mortgage from a bad deal! Considering the glut of places available now at great prices, take your time, make sure you have a really good inspector on the job if you make offers anywhere, and don't be hustled into anything unless you're very sure about what you're doing. Having an RE attorney on call is also highly recommended for advice before signing up.

Doing your due diligence (or having your agent do it) can be ery helpful in this instance.
What is the pricing history for the home and the neighborhood? Is the relo company pricing the property to move? Typically these transactions are completely numbers driven-there is no emotion on the part of the relo company. They only look at the math. I'm aware of a home that sold to the first owner for $700K in 2007 as new construction-the relo company bought it for $669K in September 2008 and then listed it for $575K. A $500K offer was brought to the table and there was no response. All of the comps are well over $600K and the home is the largest square footage in the subdivision.

Thanks! We do have a buyer's agent and this is just one of the many properties he showed us last week. He came highly recommended and has been very helpful so far with our "greenness", and we'll be talking with him extensively before we make our offer. I just wanted to educate myself a little too, while not bothering him over the holidays. :)

Although retaining an attorney doesn't seem typical for this area, I do think it makes sense with a faceless company and its red tape involved!

It's definitely a buyer's market, and the place has been listed for a little over 3 months, but that is still under the area average DOM. According to what information we have now, the current list price is probably about 10% below what the company paid. I don't know if that counts as deeply discounted. :\ We want to pay about 92-95% of the list price, which doesn't seem outrageous, but, well, we're new at this! :D

trk65, I cross-posted with you. I worry that there are no good comps available, as it is a very unique property. We'll definitely talk with the agent about that...and go take a peek at Zillow right now. ;)

We bought from a relocation company once and it worked out well. Our agent was fantastic and definitely helpful during the process. One thing to keep in mind is the closing date. As I recall they wanted it closed by the 31st of the month to get it off the books. That was a negotiating tool for us knowing that. We started low and asked for a longer closing. Then we moved up and changed the date. That seemed to be very important. Good luck.

" make sure you have a really good inspector on the job "

This is a really important point for all real estate transactions, but *especially* when buying from a Relo company. Why? Because the relocation company will *honestly* be able to say that they have "no knowledge of any problems" for almost every area on the property disclosure form. In other words, they can say whatever they want, and you'll have a virtually impossible time trying to prove otherwise. So be extra-thorough on your inspection and look for things like water damage, evidence of poor drainage, foundation settling...

Also the point about the Relo company being an unemotional seller is also an important one. Unlike an individual owner, there's virtually no risk of 'offending' the seller with a lowball offer. And things you can do do minimize your risk as a buyer -- hefty down-payment, pre-qualification for a loan, quick close dates -- will be worth more to this type of seller.

It seems like a lot is going to rest on the inspector's shoulders, since it is also an older (100+ years) home, and we are conducting the negotiations long-distance! I think I will search the forum for advice on choosing a good inspector, and maybe make a separate post on the subject...

DS and DDIL put in an offer on a relo home. they had it inspected and asked for some repairs to be made as part of the deal. Relo company said no. Going forward about 3 months, relo company contacts DS's realtor to see if he is still interested in property and they will match price AND do repairs now!
Sorry, all ready bought a house!
The relo house had a terrible floor plan.....it was all I could do to keep my mouth shut. Glad they didn't get it.
Kathy G in MI

I kind of consider that one of the bonuses of dealing with a company though. :) If they want to put a foot down and be finicky, fine! There are plenty of other fish in the sea and I won't hurt anyone's feelings if I walk away! :D