Delays in Selling Residences at Old Duty Station

Federal employees transferred to new duty stations have been experiencing difficulty in selling their residences at their old duty stations within the 2-year time limit imposed by Federal regulations. Delays were attributed to economic conditions which created a tight financial market for real estate transactions. GAO has held that the 2-year time limitation may not be waived in individual cases. However, the General Services Administration proposed legislation which would permit agencies to extend the time limitation up to an additional year when extenuating circumstances prevent selling a residence within 2 years. GAO had no objection to the extension and recommended that the proposed amendment be adopted, since more employees are apparently having difficulty adhering to the 2-year timeframe.