Relocation Benefits

Closed Thread
  1. #1

    Join Date
    Jul 2007
    Posts
    8

    Relocation Benefits

    I am considering transferring to HK in the near future. The assignment will be for 4-5 years. As such, I do not wish to keep my house (which I purchased 1 year ago). The market has decreased since my purchase. I am thinking of asking for market decline as well as closing cost...for example, if I purchased my house for 500k, and then had 15k of closing costs, my cost basis would be 515k. If the sales price is below 515k, I would expect the company to make up the difference (i.e. sold for 500, the company chips in 15k). Then on top of that, the company would need to pay the 5-8% closing / commission costs...

    In your experiences, are companies willing to do this? I am an internal transfer on this one so I do have a track record with the US part of the organization. I am confident that they would pay the closing / commission costs, just not sure about the market one...any advice would be much appreciated.

    Thanks.


  2. #2

    Join Date
    Apr 2003
    Posts
    12,383

    It is common to pay for closing and commissions.

    Not heard of companies forking out for the losses related to individual investment decisions. In this day and age... I can see accountants putting their foot down against such a scheme.


  3. #3

    Join Date
    Jun 2005
    Location
    Hong Kong
    Posts
    23,205

    Agreed, although companies often make up the difference between rental income (net of agents' fees & other costs) and mortgage payments if you were to let it out.