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Re: New Job/possible move
Old 11-12-2006, 07:57 AM   #21
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Re: New Job/possible move

Quote:
Originally Posted by Azanon
This strategy would allow me to not have to be rushed on the sale of my home, would give me all the equity of the previous home in hand to buy exactly how much house i want at the new location, would keep me from having two mortgages at any point, would give me enough for a downpayment (to avoid PMI), and should put me in a better negotiating position for the new home such as for the interest rate.

BTW, i do have a 3 year old son. We already pay for daycare so.....

How does that sound?
Yes, with a 3 year-old in the equation, the plan sounds best and it puts you in charge of the timing of things, removes the risk of 2 mortgages, etc. Just commit to making it home every weekend though it will get tiresome.
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Re: New Job/possible move
Old 11-12-2006, 08:53 AM   #22
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Re: New Job/possible move

Az:

If you like the work and the future job sounds like fun go for it. I made that same jump (mine was to a 12/13) from Chicago to DC when I was 30. I never regretted it. In the regional office my options were limited. In DC they were wide open.
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Re: New Job/possible move
Old 11-12-2006, 12:02 PM   #23
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Re: New Job/possible move

The other item you need to put in your RE sale agrement is that possession is negotiable. This will enable you to negotiate enough time to buy in the new location. This is just like many terms. You might get an offer with 30 days possession, and you would counter with 90 days (or whatever). The longer your place has been for sale, the more confident you will be about the time needed.

Once I agreed to 30 days and we hustled to get a new place. Furniture was on the truck for 10 days to bridge posession (1500 miles away).
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Re: New Job/possible move
Old 11-12-2006, 12:12 PM   #24
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Re: New Job/possible move

Good plan, Az. I've been in the two-house situation <shudder>. We were paying 2 mortgages and a bridge loan. Never again!
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Re: New Job/possible move
Old 11-12-2006, 12:13 PM   #25
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Re: New Job/possible move

Quote:
Originally Posted by kcowan
The other item you need to put in your RE sale agrement is that possession is negotiable. This will enable you to negotiate enough time to buy in the new location. This is just like many terms. You might get an offer with 30 days possession, and you would counter with 90 days (or whatever). The longer your place has been for sale, the more confident you will be about the time needed.

Once I agreed to 30 days and we hustled to get a new place. Furniture was on the truck for 10 days to bridge posession (1500 miles away).
In this market, I wouldn't put off a buyer who wanted to close and take possession early...lots of stories of people backing out of supposedly *done* deals as the RE market continues to sour (even if it meant losing the deposit)...if someone wants to pay you your price and close quickly...let 'em have it ASAP and find a place to rent.

Personally both times I was buying a house and selling another, I bought the 2nd without selling the first...and gambled that it would work out...and it did. Sellers really don't like the "i must sell my house first" contingency that some buyers like to put in. On the other hand I know folks who got in so over their heads trying to carry two houses that it ended up giving them a death blow to any money they otherwise would have been able to save for retirement...really set them back and as they were older, they never recoverd financially...depends on your tolerance for risk I guess and the ability of you new salary to make 2 house payments.
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Re: New Job/possible move
Old 11-12-2006, 12:30 PM   #26
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Re: New Job/possible move

Preparing for a move is exausting, particularly if working with a small child.

In some communities there are "Pods" in which you pack your household goods. When one is full they pick it up for storage, usually locally. When you are ready for the big move they send your Pods to your new home. In that way you can start getting your excess stuff out of the way to show your home, but not empty it completely. I don't know if this type of service is available in your agency moving package but it is worthy of consideration.
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Re: New Job/possible move
Old 11-12-2006, 01:19 PM   #27
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Re: New Job/possible move

IIRC, Federal openings are posted with or without relocation assistance. If job is posted with relocation assistance, you need to check into that. Not sure how the Fed works, but my private employer had a great program (guaranteed buy) and I thought there was something similar on the gov't side. If job is listed without relocation assistance, ask anyway! Employers generally want employees to transition smoothly so they can be effective in thier new positions.
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Re: New Job/possible move
Old 11-12-2006, 01:30 PM   #28
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Re: New Job/possible move

Quote:
Originally Posted by jazz4cash
IIRC, Federal openings are posted with or without relocation assistance. If job is posted with relocation assistance, you need to check into that. Not sure how the Fed works, but my private employer had a great program (guaranteed buy) and I thought there was something similar on the gov't side. If job is listed without relocation assistance, ask anyway! Employers generally want employees to transition smoothly so they can be effective in thier new positions.
Per my initial post, I'm authorized a full PCS federal move.
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Re: New Job/possible move
Old 11-12-2006, 01:35 PM   #29
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Re: New Job/possible move

Quote:
Originally Posted by jazz4cash
IIRC, Federal openings are posted with or without relocation assistance. If job is posted with relocation assistance, you need to check into that. Not sure how the Fed works, but my private employer had a great program (guaranteed buy) and I thought there was something similar on the gov't side. If job is listed without relocation assistance, ask anyway! Employers generally want employees to transition smoothly so they can be effective in thier new positions.
I hate to say it, but transition assistance is dependent on the agency moving rep and staffing. Some agencies are not considerate employers.
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Re: New Job/possible move
Old 11-12-2006, 11:47 PM   #30
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Re: New Job/possible move

Quote:
Originally Posted by Azanon
Per my initial post, I'm authorized a full PCS federal move.
.....so, what are the home sale/ purchase benefits for a full PCS federal move?
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Re: New Job/possible move
Old 11-15-2006, 10:05 AM   #31
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Re: New Job/possible move

Quote:
Originally Posted by Azanon
Per my initial post, I'm authorized a full PCS federal move.
From your description of the benefits you're being provided, and because you're moving for a promotional opportunity and more money, you have it made. This move should be a total no-brainer. If in a year or so, things haven't worked out extremely well, you can look in the mirror and see who is responsible.
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Re: New Job/possible move
Old 11-15-2006, 07:39 PM   #32
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Re: New Job/possible move

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Originally Posted by youbet
From your description of the benefits you're being provided, and because you're moving for a promotional opportunity and more money, you have it made. This move should be a total no-brainer. If in a year or so, things haven't worked out extremely well, you can look in the mirror and see who is responsible.
Oh yeah sure, i was just wanting advise on how to deal with the home situation though. But that aside, the move is a good thing.
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Re: New Job/possible move
Old 11-15-2006, 07:55 PM   #33
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Re: New Job/possible move

Quote:
Originally Posted by jazz4cash
.....so, what are the home sale/ purchase benefits for a full PCS federal move?
"When eligible employees relocate, the government assists in paying some of the costs associated with selling a home in the old duty location and purchasing a home in the new location. The entitlement will be documented on the employee's travel order. (me: they will authorize all the possible ones) The settlement dates for the sale and purchase transactions must normally be within two years of the employee's relocation date.

Reimbursement for real estate expenses is based on a determination of what is customary at the location of the sale and/or the purchase. Since reimbursement is dependent on this determination, it is critical that employees who wish to be reimbursed clearly understand what charges are customary for either the buyer or the seller when and where the transactions take place. Employees should not agree to pay in full charges for transactions in localities where the charges would customarily be split between the two parties. Additionally, employees should not agree to pay charges customarily paid in full by the other party at that location.


Reimbursable costs may include broker's fees or real estate commissions for the sale but not the purchase of a residence, certain advertising and selling expenses, and certain legal and related costs. There are also a variety of miscellaneous expenses associated with the sale or purchase of a residence that may be reimbursed. Some examples are FHA or VA loan application, loan origination fees, cost of preparing credit reports, mortgage and transfer taxes, state revenue stamps and mortgage title insurance policies when required by the lender.


Certain costs are not reimbursable. For example, types of insurance purchased for the protection of the employee such as owner's title insurance policies, property taxes, interest on loans, points and mortgage discounts, and VA funding fees cannot be reimbursed. Finally, there are some costs which realtors may consider customary but which the government will not reimburse in any case. For example, express mail charges such as UPS or Federal Express occur in most real estate transactions, however, they are not reimbursable.


While claim forms and other information on real estate entitlements can be obtained from the *, the local Staff Judge Advocate is generally the reviewing authority on "customary practice" issues. Employees are encouraged to seek advice and assistance on these matters at the time of the sale or purchase. "

also:

"During the time employees occupy temporary quarters incident to a PCS move, Temporary Quarters Subsistence Expense (TQSE) is generally authorized for expenses associated with temporary lodging, meals and/or groceries, tips and fees related to lodging and meals, laundry and dry cleaning. Reimbursement will be limited to the expenses incurred not to exceed the maximum authorized. Receipts are required for lodging, laundry (other than coin operated machines), dry cleaning and single expenses over $75.00.

While on TQSE, employees must itemize their expenses and submit the itemized list when making the claim for reimburesment.

Employeees are authorized TQSE for a period of 60 consecutive days. The authorization may be extended for an additional 60 days if it is determined there are compelling reasons for the extension. The actual rates for the first 30 days and for the second 30 days can be found in the Joint Travel Regulations. "

also:

10 days paid leave for "househunting"


I'm lazy so i cut and pasted. You asked.
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Re: New Job/possible move
Old 11-21-2006, 07:58 AM   #34
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Re: New Job/possible move

Employeees are authorized TQSE for a period of 60 consecutive days.

-----

Throughout this whole thread I was thinking about this part, wondering why you didn't do this. I moved for the gov't about 7 years ago. Have them pack up your house, take only what you need for a few months, and rent a furnished corporate apartment. They'll pay to keep your things in storage for you, and then you aren't really moving things twice (except clothes and other basics). My agency not only found me the corporate apartment, they extended the 60 day period to 90 when the still-being-constructed townhouse I bought wasn't finished on time. Worked perfectly.

Good luck, and congrats on the new job!

Karen
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Re: New Job/possible move
Old 11-22-2006, 07:40 AM   #35
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Re: New Job/possible move

I would not want to be "caught" in 2 mortgages in a flat/declining RE market. There are furnished apartments which can be had for a little more than the unfurnished types. They market to people to transition: moving/building, divorce/seperation .... This would allow you to live comfortably - in the new location- while the first house in sold. Then take the wad and buy accordingly. Also limits to move to one time ... staged/furnished homes sell faster; so leave the furniture in place. Just de-clutter (but you need to do that anyway).

My guess is the burn rate of carrying 2 mortgages will well exceed any pay increase. And in a declining RE market the equity losses would only add salt to the wound.
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Re: New Job/possible move
Old 11-22-2006, 08:01 AM   #36
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Re: New Job/possible move

Quote:
Originally Posted by tryan
I would not want to be "caught" in 2 mortgages in a flat/declining RE market. There are furnished apartments which can be had for a little more than the unfurnished types. They market to people to transition: moving/building, divorce/seperation .... This would allow you to live comfortably - in the new location- while the first house in sold. Then take the wad and buy accordingly. Also limits to move to one time ... staged/furnished homes sell faster; so leave the furniture in place. Just de-clutter (but you need to do that anyway).

My guess is the burn rate of carrying 2 mortgages will well exceed any pay increase. And in a declining RE market the equity losses would only add salt to the wound.
I'm probably going to do this as well as the TQSE. Wifey stays back home and I get the government to pay a temporary quarters at the new location. I agree, i'm not buying a new house until the one i have sells.
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