B1driver

I've been thru the Option 1 move process. The relocation company will supply you a list of approved appraisers in your area. You pick the two you want and they come out and do a "relocation inspection." If the prices come back within 5% of each other they average the two and that is your buyout offer. If they aren't within 5% they involve a third appraisal. There is no timeframe you have to list your house. You can take the buyout from day 1.

I posted this on an earlier thread, but FedEx easily has over $100,000 invested in my move alone when you figure the $50,000 loss + real estate commisions they are going to take on the sale of my house (they cashed me out and promptly dropped the price of my house $20,000 less than they paid me - it still hasn't sold btw and it's been lowered again). I did the Option 1 move in August before things really went south.

Overnitefr8

B1,

How soon did you get your money from the company? I assume you had to go through the same basic process as closing on a house as if you sold it to a normal buyer

B1driver

Here's the link to my previous post. It goes into more detail about the process. http://www.airlinepilotforums.com/ca...ue-excess.html

The paperwork was surprisingly painless, the inspection process was a pain. When it was all said and done with I was paid within 24 hours via direct deposit.

cma2407

Rather than spouting generalities from 2,800 miles away...here's the data:

Anchorage, AK real estate overview - Trulia.com

Over the last year, prices have dropped a whopping 1.6% in ANC. Higher priced homes have gone up...dramatically in some areas the crews live in. (Hillside +8.8%, avg home price $775k, Eagle River +1.7%...)

Sure doesn't look like a bubble in ANC...looks more like some folks will be selling out at close to the market peak...

TimoC

As opposed to what? Memphis.

BOYCAPTAIN

interesting....i did hear they try and dump it and write it off somehow...how did u fare?

BOYCAPTAIN

generalities?...i know people wanting to move from different states TO anc in the excess to stay a captain ....only the purple nuggets are affected by the anc market...

MaxKts

What about the junior Capt's that will get pushed out of ANC by all the Mempho guys protecting their Capt seat?

fedupbusdriver

I think it is pretty standard. The house I'm in now, I bought from Serva. The owner, (a doctor) was transferred out of town, and Serva paid her $348K. They turned around and listed it for $325K. I bought it for $305K 3 months after the doctor moved out.

BOYCAPTAIN

it all depends where u live i guess....seems expensive to me anyway u slice it

B1...what did u think of the appraisal price?