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realestatefaqs
Real Estate FAQs
Must I see a residence at the old official station to be elgible to purchase a residence at the new official station?
No, you do not have to sell the residence at your old official station to be eligible for residence purchase transactions at your new official station.
How long do I have to submit my claim for reimbursement of expenses incurred in connection with my residence transactions?
Your claim for reimbursement should be submitted to your agency as soon as possible after the transaction occurred. Under 31 U.S.C.
§
3702(b) a claim must be submitted within six years of accrual. However, the settlement dates for the sale and purchase or lease termination transactions for which reimbursement is requested must occur not later than 1 year after the day you report for duty at your new official station.
Note: If your effective date of transfer was before 1 Aug 2011, you have two years to execute your entitlements. If your effective date of transfers was 1 Aug 2011 or later, the time to execute the entitlement is reduced to one year.
May the 1-year time limitation be extended by my agency?
An extension may be granted only if extenuating circumstances prevented the employee from completing the sale, purchase and/or lease termination transactions within the initial 1-year period and that the delayed transactions are reasonably related to the PCS. (CBCA 2092-Relo, 13 October 2010)
Will my agency reimburse me for losses due to market conditions or prices at the old and new official station?
No, losses incurred due to market conditions or prices at your old and new duty station are not reimbursable when incurred by you due to:
(a) Failure to sell a residence at the old official station at the price asked, or at its current appraised value, or at its original cost; or
(b) Failure to buy a dwelling at the new official station at a price comparable to the selling price of the residence at the old official station; or
(c) Any losses that are similar in nature to (a) or (b).
What residence transaction expenses are reimbursable if an employee violates the terms of his/her service agreement?
If the employee violates his/her service agreement, no residence transaction expenses will be paid, and any amounts paid prior to such violation shall be a debt due the United States until they are paid by the employee.
Can I be reimbursed for selling my home?
A real estate sale allowance can be paid upon completion of the overseas tour when returning to a different United States (or non-foreign overseas location like Hawaii or Guam) location than the one from which you left.
How must I request reimbursement for settlement of an unexpired lease?
To request reimbursement for settlement of an unexpired lease, you must itemize expenses (list all expenses separately) on a travel voucher and submit the voucher to your agency.
How will I be reimbursed when I share a lease with someone else?
When you share a lease with someone else you will be reimbursed on a pro rata basis for that portion of the lease that you are responsible for.