CRP Real Estate and Home Sale Programs 2

Question 1

What does 'loss-on-sale' assistance cover in a relocation policy?

Accepted Answer

The difference between the employee's purchase price and the lower sale price, compensating for equity loss

Answer

Loss-on-sale benefits compensate employees who must sell their home at a price lower than they paid, protecting them from forced equity loss due to the transfer.

Question 2

What is a 'duplicate housing' benefit in relocation?

Accepted Answer

Covering carrying costs when an employee owns a home in both the origin and destination temporarily

Answer

Duplicate housing benefits reimburse mortgage, utility, and maintenance costs on the old home while the employee is paying for housing in the new location.

Question 3

Which professional does a relocation company typically assign to list an employee's home under a corporate home sale program?

Accepted Answer

A pre-approved real estate broker or agent from the relocation company's network

Answer

Relocation companies maintain networks of pre-approved real estate professionals to ensure qualified, consistent service for transferees' home sales.

Question 4

What is the typical listing period an employee is given to market their home before the relocation company makes its buyout offer?

Accepted Answer

60 days

Answer

Most corporate home sale programs allow a 60-day marketing period before the employer or relocation company is required to honor the guaranteed offer.

Question 5

Which closing cost is the employer most commonly required to pay in a corporate home sale?

Accepted Answer

Real estate commission and customary seller's closing costs

Answer

Under corporate home sale programs, the employer typically covers the real estate commission and customary seller-side closing costs as part of the relocation benefit.

CRP - Certified Relocation Professional Practice Test

CRP - Certified Relocation Professional Practice Test

CRP Real Estate and Home Sale Programs 2