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Post by Ian on Mar 1, 2014 13:57:54 GMT
Can any one provide more information on Property management/Home Sale assistance. I am expecting to get an offer and expecting to relocate from the USA. How much money they provide for property management if I decides to keep my house here. If I decides to sell then do they provide closing cost and realtor commission?
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Post by vpainter on Mar 7, 2014 21:51:09 GMT
Aramco does not give you anything for property management. If you have a contract on your house to sell, then they will provide funds for that.
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Post by Jer2911 on Mar 8, 2014 18:38:48 GMT
We have been told that they only provide funds if the house has sold and it must sell within twelve months of hire date. Earlier(before hire date),we were told that it just needed to be listed with an agent to collect money. It's a little confusing.
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derekg
Senior Member
Posts: 107
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Post by derekg on Mar 9, 2014 6:44:02 GMT
The policy was changed last year. You must now provide evidence of the sale for the funds and if it is rented, there must be proof of any lease as well. I'm not sure how they would prove the lease, but the sale funds now require the sale documents. The old system required only producing a contract with a licensed broker but now there appears to be greater interest in proving the sale.
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Post by azraeil on Mar 9, 2014 11:36:37 GMT
I beg to differ, the information I posted in the previous page were taken directly from the Global Payroll IR. Personally, I have no clue what property management is and the difference between property management and house sale, the information was taken from the IR manual.
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Post by vpainter on Mar 10, 2014 20:02:33 GMT
Thank you. As I said, things change constantly.
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Post by Beena on Mar 11, 2014 4:50:46 GMT
We had leased our car from bank... We payed the bank to get the car free and then sold it to a friend later on about two weeks ago. We are still waiting for the offer. And we got loss on this sale and leasing of the car .... Do we qualify ?? For getting the allowance ...
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Post by GroveWanderer on Mar 11, 2014 6:12:50 GMT
You are only eligible for the vehicle sale allowance if it is an agency sale. Private sales do not qualify.
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Post by David_and_Nita on Mar 11, 2014 7:45:25 GMT
There appears to be a fresh new policy on this, the ink has just dried. This was NOT the case in '09, '10, '11.
The property management payment is 50% of the home sale assistance payment.
Also noticed that the payment for sale of home requires actual closing documents, not just an agreement with the realtor like it used to.
That's also new I believe
So the new policy requirements:
When relocating to Saudi Arabia decision factor for you may be whether to sell or lease your property before you leave. Saudi Aramco provides financial assistance for the costs associated with selling or leasing your property as a result of relocating to Saudi Arabia.
You must vacate the property, remove all family members and show proof of either sale of residence (closing/sales statement by a legitimate real estate agent) or a third party real estate property management contract. The contract to manage the house must be good for at least 6 months and must indicate the real estate agent’s license number.
Some cool stuff about reimbursement for sale of vehicles:
The private motor vehicle must be sold to a registered car dealership. Private sales are excluded from this policy, for example selling your motor vehicle to a friend or family member. Only original receipts of sale will be accepted for verification and must include the car dealerships registered license number. Similarly only original car lease cancellation documentation will be accepted for verification including the lease companies registered license number. Photocopied documents are not accepted. You must also submit a copy of the registration book/document to prove you have owned the motor vehicle for at least three months.
For specifics - contact relo advisor. This is just general stuff about the new policies.
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Post by Raju G on Nov 19, 2014 13:48:49 GMT
Hai . I am from India and my visa is confirmed (Process Engineer). Travelling in first week of December. I too received the policy change document. Could any body help me regarding loss on sale of private vehicle. I am selling my vehicle to registered reseller in India named true value. They are issuing a sale certificate but that certificate format do not include register license number. Could any one help me with some format of sale certificate that is acceptable with Aramco. I asked my relocation adviser, but of no use.
Thank you.
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