Supporting Cross-Border Transfers
What are we doing for relocating homeowner transferees? In today's article, Team Relocations looks at the interesting issues around the extent of relocation support to be offered, particularly if the transferee is a homeowner.
In Europe, we are seeing increasing numbers of cross-border permanent transfers. Most employers shy away from the potential costs involved in offering Guaranteed Sale to homeowners and, instead, there has been growing take up of Marketing Assistance Programmes (MAP). These are available in most European countries and ensure that transferees’ homes are being aggressively marketed for sale and being well-maintained. Use of MAP can be linked to temporary accommodation allowances: avoiding the situation where an employee is seeking to extend temporary accommodation (at the employer’s expense), while the home languishes on the market at an unrealistically high price.
The best thing to do in this situation is to manage property sales across Europe and also provide practical support to transferees on buying a house. You can also advise on policy issues, with advice typically being sought around “acceptable” transaction costs and housing cost differentials.
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