Howard
Posts:831
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| Feb 09, 2012 10:43 PM |
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We just FINALLY after 4 years signed a contract for sale on a house we have in Norfolk VA. We PCSed to the West Coast in 2008.
We applied for HAP in 2009 and our app was accepted pending us finding a buyer.
We owe $271,000 and sold at fair market price of $198,000.
OUr file has just moved within HAP tot he beefit section.
Does anyone who has used HAP recently know how long it will take to close? Ours is considered a Govt Aquisition since we had to find a buyer.
Any info would be most helpful. We are so concerned about losing our buyer. We have heard horror stories about HAP funding being gone and the process taking 4-5 months.
Thank you! |
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Howard
Posts:831
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| Feb 09, 2012 10:43 PM |
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We just FINALLY after 4 years signed a contract for sale on a house we have in Norfolk VA. We PCSed to the West Coast in 2008.
We applied for HAP in 2009 and our app was accepted pending us finding a buyer.
We owe $271,000 and sold at fair market price of $198,000.
OUr file has just moved within HAP tot he beefit section.
Does anyone who has used HAP recently know how long it will take to close? Ours is considered a Govt Aquisition since we had to find a buyer.
Any info would be most helpful. We are so concerned about losing our buyer. We have heard horror stories about HAP funding being gone and the process taking 4-5 months.
Thank you! |
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Joe and Deb - VR SAM
VR SAM
Senior Member
Posts:328
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| Feb 10, 2012 04:11 AM |
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Congratulations, and thanks for your service. The best advice I can give is to stay in contact with your HAP case manager at the regional Savannah office. See link below. If you used a Realtor to sell your home, they should take the lead on this and engage HAP as well, but if in doubt, stay close. Also, much like a short sale, a lot will depend on how many files are stacked up at the regional office. You can expect numerous request for various documents and the same for your buyer. It is absolutely critical to turn these around as quick as possible. Just like short sales, it is best to keep the buyer / buyer's agent in the loop. Don't hide anything from them, nor keep info from them. You will keep them interested / engaged by keeping them informed of the entire process. I strongly encourage a once / week update. This is best worked through realtors, but do stay on top of it.
Expect things to get messed up (requirement for duplicate paperwork) and expect some stress. My best "guess" is something like 60 days but the caveats above apply. Here's the link, and best of luck. Joe
http://hap.usace.army.mil/Contact.html
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Joe and Deb Gladden
703 754-3036
Fax: 703 848-3690
homesformilitary@vrsam.com
http://www.vrsam.com
Specializing in Military, Defense Contractors, Fed Employees Relocation.
Ask us About Fawn Lake - Virginia's Best Kept Secret! |
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Steve
Posts:831
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| Mar 02, 2012 11:07 AM |
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Congratulations Howard! We closed on our HAP sale in December 2011. Our closing took quite some time, but I think 60 days is what they "advertise." We got a sales contract in August but were told that there were "Funding Delays." HAP wasn't able to give us any info on what that meant or how long this could take. I think it had to do with the change in FY and the Continuing Resolutions slowing down the allocation of funds, but that is my speculation.
I fear that we would have lost our buyer had she not been purchasing the house to use as an income property. She was able to wait it out from August to December(with no real idea when the process would finish). What we decided to do was put the house back on the rental market before closing. HAP approved this and sent us one additional form to fill out. The buyer served as the property manager until ther date of closing, then she became the landlord. You could consider renting the house to your buyer until closing.
Your rep in the benefit section is a great source of info. Ours was Cindy from the Savannah office and she was great. She didn't always have the answers we were looking for but worked hard to keep us up to speed on the progress of our package. I would keep checking in with your rep every week or two.
I'll second what Joe said. We had lots of duplicate and last minute paperwork. There were also some issues with having the final docs notarized. HAP post dates the docs to match the closing date. Our notary wouldn't sign off on that. They had to change the dates to the current date. It didn't seem to have any negative impact on the outcome...just a little confusion.
It took some patience, but it was well worth it. Feel free to email me at stevenyoude@att.net if you'd like to discuss further.
Best of luck.
Steve |
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John From Seattle.
Posts:831
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| Mar 05, 2012 11:58 PM |
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I'm an agent in the Seattle area, and have closed 20+ HAP transactions. All HAP contracts are now being processed in Savannah now. Prior to that Sacramento was so slow it was taking over a year on Gov't Acquisition contracts to close. Keep you agent in the loop and copy them on all HAP emails. 90 days is realistic closing, 60 is pushing it, and ti might be longer if Savannah now is completely slammed with offers and processing. Good luck John 206-910-0200 http://www.thehapprogram.com |
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HAP HELP ME PLEASE
Posts:831
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| Apr 13, 2012 09:28 PM |
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The offer on our house has been approved and is now being sent to the benefit section ( gov acquisition)...whats the process from here? Any info? Advice? Im on pins and needles til this is done. Once its in the benefits section were you able to call your rep via phone? ...I feel everything has been email only to get to this point? any info would be helpful |
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Joe and Deb - VR SAM
VR SAM
Senior Member
Posts:328
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| Apr 15, 2012 06:13 AM |
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Howard, see the note below your post. The best advice we can give is to contact the HAP office. Generally, their counselors / case managers are very good about explaining the process and answering the timing questions. Best of luck. Joe |
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Joe and Deb Gladden
703 754-3036
Fax: 703 848-3690
homesformilitary@vrsam.com
http://www.vrsam.com
Specializing in Military, Defense Contractors, Fed Employees Relocation.
Ask us About Fawn Lake - Virginia's Best Kept Secret! |
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Elizabeth City
Posts:831
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| Oct 18, 2012 11:25 PM |
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We found a buyer in July 2012 and have just now closed in October 2012. That's how long it can take. Many setbacks and delays by HAP due to red tape and gridlock at the Savannah office. Be ready for lots of worrying and good luck! |
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fornb
Posts:831
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| Nov 06, 2012 02:03 PM |
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Posted By on 11-22-2009 04:14 PM
Go to the following website:
http://hap.usace.army.mil/EP_PCS.html
Read CFR 32 Part 239 and the FAQs. If you have any questions after that, I'd be happy to assist you.
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Michelle
Posts:831
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| Dec 12, 2012 04:09 PM |
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We closed Nov. 1. Was in the process since June. Definitely need patience! Have you gotten any insight on how to handle taxes? A lot of conflicting info out there especially about some states taxing the benefit but can't find out if my state does (Georgia). |
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cjimejr
Posts:831
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| Dec 20, 2012 11:48 AM |
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I started the HAP process on 2 July and it is now 20 Dec and we still don't have a closing date. Patience is a must during this. My problem was my HAP counselor had a James Carter and a Jimmie Carter to work on and on three different occasions our paperwork was mixed up which caused delay. I am hoping and praying this gets done before I lose my cash paying buyers. |
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maureenowaters
New Member
Posts:3
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| Oct 02, 2019 01:11 PM |
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Posted By Anonymous on Nov 22, 2009 04:14 PM
Go to the following website:
http://hap.usace.army.mil/EP_PCS.html
Read CFR 32 Part 239 and the FAQs. If you have any questions after that, I'd be happy to assist you.
Thanks for sharing such a beautiful link. It's really helpful.
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maureenowaters
New Member
Posts:3
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| Oct 15, 2019 06:16 AM |
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Posted By Anonymous on Nov 24, 2009 06:12 PM
Q. Will my Expanded HAP benefits be taxable?
A. No. President Obama signed HR 3548, Unemployment Compensation Extension Act of 2009 into law and thereby exempted Expanded HAP benefit payments from taxation. Payments to military members are not subject to social security or Medicare taxes.
That's great.....
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