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RSC's offer for the residences or to participate in the home
disposal program. If a relocating employee decides to
participate, petitioner becomes obligated to assist in the
disposition of the employee's home.
Pursuant to the contract between petitioner and the RSC, the
RSC offers to purchase relocating employees' residences at fair
market value. Fair market value is determined by averaging two
qualified, independent appraisals. The employees choose
independent appraisers from a list provided by the RSC. If more
than two appraisals are obtained, fair market value is the
average of the two closest appraisals. The RSC sends copies of
all appraisals to petitioner and informs it of the appraised
value. The RSC's offer expires after a set period, which is
generally 60 days.
Relocating employees may market their residences during this
offer period. Employees who market their homes must insert
language in the listing agreement that permits them to accept the
RSC's offer without paying a commission to the listing broker.
If an employee receives a bona fide third-party offer that
exceeds the RSC's offer during the offer period, the employee may
accept the third-party offer and assign the third-party contract
to the RSC (assigned sale). The employee assigns the third-party
contract by sending the following to the RSC: (1) An executed
third-party offer, signed by the employee as seller and the third
party as buyer; (2) a contract of sale with the RSC as buyer and
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Last modified: May 25, 2011