Posted in If a military member has not sold in one market and goes ahead and moves to
another anyway to start a posting, they get access to something called a
temporary dual residency allotment if the house has not sold. This will
allow them to be reimbursed for interest payments, property taxes,
insurance, heat/electric/water for a period of up to 6 months from the Core
envelope, after which they can access Custom benefits should they still not
have a sale. Here is a link to the applicable portion of the relocation
guide:
http://www.forces.gc.ca/en/about-policies-standards-benefits-relocation/2011-2012-directive-ch8.page#art-08-02-07
Marketing incentives are often available if the property is not sold in 2
months. From past experience, this would be a 'quick closing' bonus or a
'decorating allowance' of up to $2000 to try and facilitate a speedy sale:
http://www.forces.gc.ca/en/about-policies-standards-benefits-relocation/2011-2012-directive-ch8.page#art-08-02-12
In terms of Home Equity Assistance if a property ends up selling at a loss,
here is the policy regarding that:
http://www.forces.gc.ca/en/about-policies-standards-benefits-relocation/2011-2012-directive-ch8.page#art-08-02-13
If you aren't getting this type of advice from your current real estate agent or mortgage provider, I would be happy to review your situation (at no charge) to make certain you are on the right track.
#militaryrelocation #dndirp
