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Post by yycjor on May 28, 2022 23:37:07 GMT
When one should sell his own house in his own country (i.e., Calgary)?
Offer has been accepted. But on the other hand nothing is guaranteed, and for any reason things can change. An extended or short time until family followed you to KSA is another factor. We don’t have family behind us in Canada to help with this critical task.
So what is your experience or advice about the right time to sell the house?
Rent after selling is an option but not very convenient specially if things didn’t work out.
Housing market is currently good but its also slowing down with the interest bump…
appreciate your thoughts!
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Post by eng4life on May 29, 2022 1:04:49 GMT
Just wondering why you don’t consider putting your house for rent before leaving. Just have a management company manage the rental. Prices for homes are not coming down anytime soon despite the high interest rates. Your tenant can pay for the mortgage and you can just build equity. There is also the aspect if you were to return back from Saudi for unexpected reasons then buying another house will be equally expensive
You can just declare your rental income as a non resident which will be negligible. If you still want to sell it you can always sell it later once you know you are happy with your job and stable.
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Post by Humash on May 29, 2022 2:13:53 GMT
I am going through the same situation.
I hoping my visa will come soon hopefully by July.
Still confuse about what to do with house.
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Post by scaustan on May 29, 2022 2:33:14 GMT
I would suggest waiting out your probation period before selling your house.
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Post by yycjor on May 29, 2022 2:53:50 GMT
Just wondering why you don’t consider putting your house for rent before leaving. Just have a management company manage the rental. Prices for homes are not coming down anytime soon despite the high interest rates. Your tenant can pay for the mortgage and you can just build equity. There is also the aspect if you were to return back from Saudi for unexpected reasons then buying another house will be equally expensive You can just declare your rental income as a non resident which will be negligible. If you still want to sell it you can always sell it later once you know you are happy with your job and stable. I’m reluctant about renting the house. Because I can’t control the unexpected return if it happens so if not exactly at the end of the lease term I will still have to rent, negotiate or buy another house. I also plan to disconnect financially to avoid tax complications. I was planning to upgrade my house to a larger one anyway. Still curious to hear from folks who has gone through this before and how they handled the situation from timing perspective.. |
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Post by yycjor on May 29, 2022 3:01:54 GMT
I would suggest waiting out your probation period before selling your house. Means that I have to come back to close the deal and not sure how practical that would be. |
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Deleted
Deleted Member
Posts: 0
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Post by Deleted on May 30, 2022 21:02:56 GMT
I would suggest waiting out your probation period before selling your house. Means that I have to come back to close the deal and not sure how practical that would be. Braver man than I to put all eggs in the Aramco basket, but good luck to you! |
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Post by yycjor on May 30, 2022 22:15:17 GMT
I appreciate all replies..
Is probation period that tough? or maybe I’m unconsciously signing a monthly contract with Aramco? Should I plan now for my return back to Canada rather than relocating to KSA? Isn’t that early?
Its not bravery nor recklessness. When I quit my current job and move along with my family to KSA, what else should I bid for back home anyway.
Its a big risk already to make the move in the first place but then having a house won’t change much imo because my house isn’t one of a kind.
I can buy a house if I return back.
Can anyone share their experience and how they managed timing and selling their house?
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arcticengineer
Senior Member
Posts: 180
Job Status: Accepted Aramco Job
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Post by arcticengineer on May 31, 2022 17:39:47 GMT
Probation isn't a big a deal, it's stressful but its rare someone doesn't make it through. Aramco has put a lot of money into recruiting and relocating so their goal isn't to get rid of you. The basics are, be respectful, be social, don't be frustrated by delays and learn your role and Aramco's system.
I can't advise about selling your house as we've kept ours.
The challenge is whether your willing to take the risk selling your house before you've completed background, medical and your visa. How long that takes varies for everyone, and when its finally all cleared Aramco wants you to arrive within a month. Not enough time to list your home and close it. So you have to figure out what is most important for you, the security of knowing everything is set, or figuring out when the plan should work out and put your house on the market so it should close before you board the plane. Sorry but there is no easy answer.
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Post by yycjor on May 31, 2022 17:57:55 GMT
arcticengineer thanks for your feedback I have reached out to a realtor and he advised that I can sell my house and sign all paperwork using DocuSign regardless of my location. Seems that I need to hire him while I’m still in Canada however. I think I will wait until I have my visa in my back pocket and then I will start the selling process, if it sells when I’m still in country then excellent but doubtful. What’s attractive about selling a house nowadays specifically for Calgarian is the price hike. In my case its almost 25% jump from last year.
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Post by canfin21 on Jun 1, 2022 16:35:57 GMT
is there really a difference between them getting rid of you during probation vs. after probation. Isn't it just easy enough for them to terminate you afterwards too? (Sorry, I am not suggesting that they would let you go in a heartbeat but really what is stopping them from doing so)
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Post by yycjor on Jun 1, 2022 16:57:18 GMT
You are totaly correct, anything can happen anytime including kicked off out of KSA at the plane gate or when I become 60 years old, but how is that relevant in selling a house anyway?
Plan, evaluate risks, make descisions, execute, adjust, accept results. that's my way of doing things..Do you suggest one should freeze the clock waiting for the worse to happen?
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Post by canfin21 on Jun 1, 2022 17:22:45 GMT
My comment was on someone suggesting to wait until probation period ends to sell the house, not to anything you said yycjor. But I am also genuinely interested in knowing whether probation period is looked at differently in terms of terminating someone at ARAMCO or if its just a standard clause put in without any real consequence.
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Post by yycjor on Jun 2, 2022 0:58:03 GMT
My impression that probation period in Aramco is similar to any other company. Good people will stay, unlucky people will be escorted to the airport.
Many old timers mentioned that it does happen but very rare.
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Post by canadianman on Jun 2, 2022 18:48:44 GMT
yycjor 'horrible people'? Kind of harsh way to describe other professionals who for one reason or the other failed to make it past the probation period...Just saying
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