Military transfer rules hurt tepid Halifax housing market

[RubberTree]

So this is from the Chronicle Herald in Halifax...
The article is available here: http://thechronicleherald.ca/business/1212010-taylor-military-transfer-rules-hurt-tepid-halifax-housing-market

It states that "the government requires the original home to be sold before the family can book a flight to their new city for a house-hunting trip."
I'm not posted this season but I've never heard of this before. Can anyone confirm this or is it just a poorly researched article?

 

[Strike]

So this is from the Chronicle Herald in Halifax...
The article is available here: http://thechronicleherald.ca/business/1212010-taylor-military-transfer-rules-hurt-tepid-halifax-housing-market

It states that "the government requires the original home to be sold before the family can book a flight to their new city for a house-hunting trip."
I'm not posted this season but I've never heard of this before. Can anyone confirm this or is it just a poorly researched article?

They don't require it, they recommend it.  I have half a dozen friends and family (my brother being one of them) who have gone on their HHT prior to selling their house this year alone.

 

[McG]

A new policy was just published, and I have not yet read it.
In passed years, it was possible to do the HHT before selling, though Brookfield would present the idea as a no-go and members would be accept a huge personal risk in doing so.  If a conditional offer to buy falls apart while the buyer is still trying to sell their current home, DND will not give a second HHT.

 

[RubberTree]

I figured it was most likely a recommendation as opposed to a regulation.
If I can't trust the news...what have I got left? :

 

[McG]

If the military does have a measurable impact on the Halifax housing market, then the reduction in cost moves this year will no doubt be felt.

 

[VIChris]

If I can't trust the news...what have I got left? :

Army.ca of course!

 

[McG]

... or here:  http://cmp-cpm.forces.mil.ca/dgcb/dcba/engraph/download_e.asp?docid=214

 

[392]

  If a conditional offer to buy falls apart while the buyer is still trying to sell their current home, DND will not give a second HHT.

IIRC, second HHTs have been authorized for years, just comes out of a different envelope. Don't know about the new policy though....

 

[Tibbson]

Its slow here alright.  4 showings in 6 weeks and I'm already below appraised value.  Any lower and I'm below what I paid for it but I still cant claim any loss unless its been on the market for 90 days plus.  Yep, time to get where im going and retire before they try to move me yet again.  Its not worth the hassle and financial loss.

 

[Occam]

IIRC, second HHTs have been authorized for years, just comes out of a different envelope. Don't know about the new policy though....

Yes, out of personalized...which is essentially out of your pocket.  Personalized is where your posting allowance and posting grant go.

 

[upandatom]

FYI- Most Messages werent cut until end of April Early May- of course they arent going to be able to complete HHTs and Sell before April, expect numbers to be down.

Common sense.

 

[Tibbson]

FYI- Most Messages werent cut until end of April Early May- of course they arent going to be able to complete HHTs and Sell before April, expect numbers to be down.

Common sense.

From the date on my message to my COS date is 2 months and 4 days.  Needless to say I've already asked for an extension.  At the Family Day today I had no fewer then 3 conversations with others who have had their homes on the market since getting their messages and have only had a few showings.  All of our agents have warned us too that things will start to slow down the further we get into the summer.  Personally I cant see how it will get any slower though.  Even my Brookfield rep has observed to me about how her work load is down as she waits for people to be able to take their HHT and book movers.  Its going to be a long miserable summer filled with cleaning in prep for showings that never happen I fear,

 

[Ostrozac]

From the date on my message to my COS date is 2 months and 4 days. 

I got a backdated posting message a few years ago. That really sucked. The message was cut on 2 Feb, and my COS date was 1 Feb. I had to ask for and received a 30 day extension (which was really a 29 day extension), and I managed to do my HHT and my cost move, all within the 29 days, but I really hope I don't ever have to do that again.

 

[Tibbson]

I got a backdated posting message a few years ago. That really sucked. The message was cut on 2 Feb, and my COS date was 1 Feb. I had to ask for and received a 30 day extension (which was really a 29 day extension), and I managed to do my HHT and my cost move, all within the 29 days, but I really hope I don't ever have to do that again.

Most of us would gladlymake it happen in what ever time frame they gave us if we could only sell our homes.