Departure & Home Sale Services
Home Sale Services
Crown provides policy counseling, comprehensive purchase offer review and negotiation assistance to ensure policy compliance. From preparing the employee’s home for listing to coordinating closing activities, Crown provides counsel, guidance and expertise in facilitating home sale transactions. Upon closing, Crown coordinates funding, recordation, expense processing, related gross up calculations, remittance, expense tracking and reporting.
Across the globe, home sale support and practice varies diversely. Crown’s broad global footprint enables our professionals to access local resources to validate customary selling expenses. Crown audits direct home sale expense documentation according to client policy and local practice and can then disburse reimbursement to the employee accordingly. Additional assistance with purchase sales contract review, title and land registry searches and property settlement can also be provided.
Buyer Value Option
Many companies today recognize that the Buyer Value Option (BVO) home sale program is often the best fit for their relocation requirements and level of desired employee support. Crown follows the Worldwide ERC® espoused standards for the BVO transaction. Crown follows the two-deed recordation process in which title insurance and transfer tax may arise as a direct cost expenditure to the client in the sale of the home from the employee to the relocation services company. Home sale assistance programs are available in Canada, the UK and Australia - however the two deed recordation process may not required as the tax benefit of doing so is specific to the U.S. at this time.
Crown facilitates comprehensive home sale support. Crown can issue the employee a Guaranteed Offer contract based on the average of independent market appraisals and contingent upon title and inspection survey results according to client policy and practice. If the employee is successful in securing a buyer before the expiration of the Guaranteed Offer period, Crown will amend its offer to match the price and terms of the qualified purchaser and manage the closing for the employee - thereby yielding tax favorable cost savings for the employer in the U.S. Otherwise, the home marketing will be managed by Crown and sold at the best terms given Crown’s strategic and targeted corporate real estate inventory program.
Typically, Crown identifies two qualified, relocation dedicated, real estate professionals to prepare a Broker Market Analysis (BMA) utilizing the Worldwide ERC® format. Crown conducts all marketing assistance activities in conjunction with the selected Real Estate professional. The appropriate inspections and title searches are ordered and the results are reviewed with the employee. Suggested repairs and how such improvements will affect the home value are discussed. Crown provides an outline of performance expectations to ensure the effective marketing of the home and makes recommendations throughout the marketing period to the client, the employee and agent to facilitate the timely sale of the property.
Whether the employee’s property will be rented or maintained during the assignment period, Crown’s Property Management services offer complete security. Services include comprehensive tenant screening, ongoing maintenance, routine property inspections and coordination of emergency repairs.
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