PRSCO Ltd Outright Purchase

Outright Purchase

Designed to provide 'fixed cost relocation' by removing the uncertain costings of traditional 'Home Sale Guarantee', this plan will fit in with most existing relocation management arrangements.

The scheme is a straightforward purchase and therefore, unlike traditional Home Sale Guarantee Schemes, the agreed price will be released on completion (usually within three months) whether a new property is bought or not.

Client Benefits:

   *   Up to 100% of market value to the Employee
   *    Reduced Surveyors costs
   * No HIP cost
   *    Simplified (and therefore reduced cost) legal process
   *    No interest charges
   *    No capital loss
   *    No Estate Agents fees
   *    No ongoing maintenance / insurance/ council tax    costs.
   *    Less impact on the £8,000 tax allowance so greater    scope to avoid 'grossing-up'
   *    Reduced temporary accommodation costs
   *    Reduced weekend travel costs
   *    Employee and family in the new area within three      months (other time scales can be arranged)
   *    Known fixed costs at the outset

Employee Benefits:

   *    'Clean' and easy to understand

   *    Immediate funds (on completion) with no need to        purchase in the new area
   *    Greater scope to maximise use of £8,000 tax    allowance
   *    Reduced weekend travel
   *    Reduced family disruption and seperation

Exchange of contracts with the employee to buy their existing property will take place within a month and completion within three months, thus enabling the employee and family to be in the new work location quickly and with no on-going 'old area' costs / responsibilities for either the Company or the Employee.

'No Risk Home Sale' can be applied to most freehold properties (except flats) although as with 'traditional' relocation, there are some exclusions (e.g. some construction types, properties which have been on the market within the last 3 months, those in 'blighted' areas etc) and for the time being, 'No Risk Home Sale' is restricted to properties subject to English Law (although this is being reviewed at present).