Home Sale Assistance
Home Sale Program Development
Executive Class Relocation™ and our trusted partners will assist in developing a customized Home Sale program for your organization. The benefit of having a comprehensive Home Sale program is the ability to attract the best talent in a highly competitive employment environment.
When relocating, an employee wants and should be focusing on the new job, not on confusing paperwork, deadlines, and complicated real estate dealings. A key objective of a robust home sale program is to remove that burden and allow the employee to start their new position distraction-free. Our home sale plans are flexible, reduce administrative tasks, and are cost-effective for everyone.
Relocation Home Sale Options
Home sale programs typically offer a mix of the three most popular options:
Direct Reimbursement (DR)
The Direct Reimbursement (DR) program is where the employee sells their home and will submit the closing costs to the employer for reimbursement. The reimbursement will be considered standard payroll withholdings and be taxed appropriately. The company or the employee will be left paying taxes on what could be a significant amount.
Buyer Value Option (BVO)
With the Buyer Value Option (BVO)
the employee and the employer can avoid taxes generally associated with a Direct Reimbursement option. A BVO requires the employee to sell the home or property. When a buyer is found, the employee will sell the home to the relocation company. The relocation company will then manage the sale to the new buyer until the process is completed.
Guaranteed Buyout (GBO)
Lastly, the Guaranteed Buyout (GBO) program is where the employee lists the home, and the Relocation Management Company (RMC) will purchase the property if it has not sold in a certain amount of time.
Make the Move with Executive Class™
There are additional contingencies, tax implications, appraisal issues, and many other factors to consider when designing your home sale program. Working with an experienced Relocation Management Company (RMC) is critical to ensure you and your employees get the most out of your home sale program.
Contact us today to speak with one of our experienced team members about home sale assistance and relocation program options.