Home Sale Closing Services
Successful Transitions: no matter where the career goes, we help get the employee there and back to work efficiently and within budget
One of the most disruptive aspects of transferring an employee is the concern about managing the sale of the home in the departure location The process is technically complicated and the costs associated with the disposal of the transferee’s home represents one of the largest elements in relocation spend.
Our Closing Services take this complex process out the employee’s hands allowing them to concentrate on other aspects of their transfer. Our clients benefit because closing costs are not treated as a taxable reimbursement, through our administration of a properly structured two-step sale process. AECC will acquire the employee’s home on the employer’s behalf and subsequently incur selling costs with the outside buyer, all in accordance with IRS and Worldwide ERC guidelines.
A properly structured Home Sale program eliminates the need to treat closing costs as a taxable employee benefit.
AECC Mobility LTD
We established a Canadian entity in order to better service clients with Canadian transactions!
Budget constraints and office realignment by the Canadian Revenue Agency has had significant impact on the tax holdback required of non-resident sellers of real estate. The once efficient exemption certificate process now takes up to six months to complete, meaning clients often have a long waiting period to receive the balance of their sales proceeds.
As a Canadian entity we will now avoid this holdback requirement, and our client settlement and billing process will no longer be affected by this inefficient process.
- AECC administers all types of home sale programs:
- Buyer Value Option (BVO)
- Guaranteed Buyout (GBO)
- Amended Value
- Appraised Value
- Closing Services
- Title search ordering & deed preparation
- Document management: disclosures, and contract of sale
- Equity calculation & payment
- Seller listing & inventory management
- Sign as named seller for purchase agreement
- Resale close coordination & settlement approval
- Property cost accounting and expense payment, and 1099-s reporting
The Corporate Experience
- Ensures objective administrative management to meet the best interests of the employee and company
- Increased productivity with fewer employee distractions and work absences
- Maximizes cost savings by eliminating return trips back to attend closings
- Lowers or eliminates tax gross-up expenses
- Streamlines company expense reimbursement and reporting processes
- Speeds implementation with an immediate return on value
- Provides an expert resource for information on relocation-related issues
The Employee Experience
- Provides assurance that transferee’s best interests are achieved
- Provides expert, objective guidance and support throughout the complexity of closing
- Eliminates the need to secure a local attorney, in most cases
- Eliminates the need for the employee to attend the closing
- Eliminates the need to submit closing cost reimbursement request to company
- Provides for full equity to be received more quickly
- Reduces time and aggravation during a stressful period
- Eliminates tax burdens associated with a direct reimbursement program
We would love to hear from you!