ex1030.htm


    
      
         

         

        Exhibit 10.30 

         

         

        HOMEOWNERS

        RELOCATION ASSISTANCE

         

         

         

         

            

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

      
        TABLE
OF CONTENTS

      

      


      


      


      
        	
                CONTENTS

              	
                Pages

              
	 
      	 
      
	
                ELIGIBILITY

              	
                1

              
	 
      	 
      
	
                PAYBACK
      AGREEMENT

              	
                1

              
	 
      	 
      
	
                RELOCATION
      ASSISTANCE CHECKLIST

              	
                2

              
	 
      	 
      
	
                MOVE
      ALLOWANCE

              	
                3

              
	 
      	 
      
	
                HOUSE
      HUNTING

              	
                4

              
	 
      	 
      
	
                HOUSEHOLD
      MOVE AND STORAGE

              	
                5

              
	
                Move Instructions

              	
                6

              
	 
      	 
      
	
                SELECTING
      A REAL ESTATE AGENT

              	
                12

              
	
                PG&E REALTOR
      NETWORK

              	
                12

              
	 
      	 
      
	
                HOME
      SALE ASSISTANCE PROGRAM

              	
                15

              
	
                Introduction

              	
                16

              
	
                Overview

              	
                17

              
	
                Eligibility

              	
                18

              
	
                Required
      Inspections/Disclosures

              	
                21

              
	
                Options

              	
                22

              
	
                Listing Your Home For
      Sale

              	
                22

              
	
                Marketing

              	
                23

              
	
                The Appraisal
    Process

              	
                24

              
	
                How the Appraisal Process
      Works

              	
                25

              
	
                Appraisal Input_

              	
                29

              
	
                Brokers' Price
      Opinion

              	
                29

              
	
                Amended Value
    Program

              	
                30

              
	
                Appraised Value
    Offer

              	
                31

              
	
                Payment of Equity

              	
                32

              
	
                Final Equity
    Payment

              	
                33

              
	
                Things You Need to
    Do

              	
                34

              
	
                Vacating Your
Home

              	
                35

              
	
                Walkthrough
    Checklist

              	
                36

              


      

      



      
        
           


        

        
           


          
            

          

        

        
           


        

      


      


      


      


      
        TABLE
OF CONTENTS

      

      


      


      
        	 
      	
                Pages

              
	
                HOME
      SALE - DIRECT REIMBURSEMENT

              	
                38

              
	 
      	 
      
	
                REIMBURSEMENT
      FOR CLOSING COSTS

              	
                38

              
	 
      	 
      
	
                TAXES

              	
                39

              
	 
      	 
      
	
                TIME

              	
                39

              
	 
      	 
      
	
                USE
      OF COMPANY CAR

              	
                39

              
	 
      	 
      
	
                APPENDIX

              	
                40

              
	 
      	 
      
	
                Helpful Hints when buying or
      Selling a Home

              	
                40

              
	
                Closing Costs Associated with the
      Sale of a Home

              	
                42

              
	
                Closing Costs Associated with the
      Purchase of a Home

              	
                44

              
	
                Appointment Log

              	
                46

              
	
                Questions and
    Answers

              	
                47

              
	
                Glossary of Terms

              	
                51

              
	
                Tax  Summary

              	
                53

              
	
                Example of Tax Gross Up
      Procedure

              	
                55

              


      

      


      


      


      


      


      


      


      


      


      


      


      


      PG&E
– Officer

      Homeowner-New
Hire 1/09


      
        
           


        

        
           


          
            

          

        

        
           


        

      


      


      


      


      


      
        ELIGIBILITY

      

      


      


      In order
to qualify for relocation assistance:

      


      


      
        	
                 
      ●

              	
                Your
      new commute must be AT LEAST 50 miles FURTHER than your current
      commute.  To determine
eligibility:

              


      

      


      
        	
                 
      

              	
                Mileage
      from CURRENT home to NEW
      headquarters:                            miles

              


      

      
        	
                 
      

              	
                Mileage
      from CURRENT home to CURRENT
      headquarters:       (           miles)

              


      

      


      
        	
                 
      

              	
                Difference
      must equal 50 miles or
      more.                                 
                         miles

              


      

      


      


      The
relocation must result in a commute which is substantially reduced, that is by
at least 50 percent.  Your new residence must be closer to the new
headquarters than the former residence.

      


      
        	
                ●

              	
                Moves
      over 100 miles require the new residence to be within 50 miles of the new
      headquarters.  You are encouraged to consult with Relocation
      Services to verify the maximum allowable distance from the new
      headquarters.

              
	 
      	 
      
	
                ●

              	
                Moves
      less than 100 miles require that the commute be reduced by at least 50
      percent.

              
	 
      	 
      
	
                ●

              	
                You
      must relocate your primary residence within one year from the effective
      date of hire.  Establishing a permanent residence is defined as
      the employee and
      family establishing a permanent tax base.  Traveling back to the
      principle residence on weekends from an apartment, mobile home, motor
      home, rented room or company housing will not qualify for relocation
      assistance.

              


      

      


      


      
        PAYBACK
AGREEMENT

      

      


      You will
be asked to sign a Relocation Payback Agreement.  Please read this
document carefully and return it directly to Relocation Services in the envelope
provided.

      


      No
payments will be made or services requested until a signed copy of this
agreement is on file.

      


      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

      
         

        RELOCATION
ASSISTANCE CHECKLIST

      

      


      
        	
                 1.
      Home Sale

              	
                Homeowner*

              
	
                A.  Home Sale
      Assistance Program

                B.  Direct
      Reimbursement for Closing Costs

                 

              	
                Yes

                Yes

              
	
                 2.Move
      Allowance

              	
                Yes

                 

              
	
                 3.
      House Hunting Trip

              	
                Yes

                 

              
	
                 4.
      Enroute Expenses

                 

              	
                Yes

              
	
                 5.
      Corporate Housing (temporary housing)

                 

              	
                Yes

              
	
                 6.Moving

                A.  Household
      Move

                B.  Household
      Storage

                C.  Delivery out of
      Storage

                 

              	
                 

                Yes

                90
      days

                Yes

                 

              
	
                 7.Home
      Purchase Closing Costs

                 

              	
                Yes

              
	
                 8.Mortgage
      Interest Differential

                Allowance (MIDA)

                 

              	
                Yes
      (1)

                 

              


      

      


      


      *Status
at the time of the job interview.  Mobile homes do not qualify for the
Home Sale Assistance Program.

      


      
        	
                 
      

              	
                (1)  In
      order to quality, new rate must be at least 10 percent and exceed
      current

              


      

      
        	
                 
      

              	
                       rate
      by at least 2 percent.

              


      

      


      
        	
                 
      

              	
                NOTE:  All
      relocation assistance must be requested within one
      year of the

              


      

      
        	
                 
      

              	
                  effective
      date of hire.

              


      

      


        Reimbursements
NOT submitted within one year will
be denied.    

        Receipts
must be provided.

      


      In
addition to other policy provisions regarding the timing of expense
reimbursements, any reimbursements of taxable expenses provided pursuant to this
program shall be reimbursed on or before the last day of the calendar year
following the year in which the expense was incurred, consistent with
requirements in Internal Revenue Code Section 409A, as it may be
amended.

      


      The
amount of expenses eligible for reimbursement is not subject to a multi-year
cap.  As a result, expenses eligible for reimbursement during one year
do not affect the expenses eligible for reimbursement in any other taxable
year.


      
        
           


        

        
          2

          
            

          

        

        
           


        

      


      


      
        
          	
                   
      

                	
                  MOVE
      ALLOWANCE

                


        

      

      


      The Move
Allowance is intended to help defray some of the miscellaneous relocation
expenses not directly reimbursed by policy.  Receipts will not be
required.

      


      The only
action required by the employee is to return the Relocation Expense Payback
Agreement and Home Sale Assistance Agreement, if appropriate.

      


      It should
be noted that if an employee accepts the Move Allowance and does not complete
the relocation process per the terms of the policy, the Allowance must be repaid
in full.

      


      This
allowance is intended, but not limited to the following:

      


      
        	
                ●

              	
                Travel
      expenses not covered by policy

              
	
                ●

              	
                Temporary
      housing not covered by policy

              
	
                ●

              	
                Commuting
      costs

              
	
                ●

              	
                Additional
      income tax liability

              
	
                ●

              	
                Express
      Mail Charges (Federal Express, UPS, Airborne Express,
  etc.)

              
	
                ●

              	
                Notary
      fees

              
	
                ●

              	
                Connecting
      utilities, TV antenna, etc.

              
	
                ●

              	
                Concessions
      negotiated in the sale of a home

              
	
                ●

              	
                Installation
      of major appliances

              
	
                ●

              	
                Pet
      expenses: moving, kennel etc.

              
	
                ●

              	
                Losses
      of fees for subscriptions, memberships, schools, safety deposit
      box

              
	
                ●

              	
                Automobile
      registration fees, licenses, or smog control charges

              
	
                ●

              	
                Spouse/Domestic
      Partner employment costs

              
	
                ●

              	
                Tips

              
	
                ●

              	
                Cleaning,
      trash/debris removal

              
	
                ●

              	
                Purchase,
      alteration, installation of window and floor coverings

              
	
                ●

              	
                Laundry
      and cleaning

              
	
                ●

              	
                Personal
      telephone calls (long distance, cell phone charges)

              
	
                ●

              	
                Child
      care expenses

              
	
                ●

              	
                Extra pick-ups for
      removal of packing boxes, etc.

              
	
                ●

              	
                Extra delivery charges
      for moves From/To more than one location

              
	
                ●

              	
                Travel
      home on weekends

              
	
                ●

              	
                Wine
      and wine cellar shipment

              


      

      


      


      



      
        
           


        

        
          3

          
            

          

        

        
           


        

      


      


      
        HOUSE
HUNTING TRIP

      

      


      HOUSE
HUNTING TRIP

      


      The
expense outlined below will be reimbursed in connection with 2 House Hunting
trips of 4 days/4 nights each.

      


      The
employee will be reimbursed for the following expenses for the employee,
spouse/domestic partner and dependent children.

      


      
        	
                Travel:

              	
                Advance
      purchase coach airfare

              
	
                Lodging:

              	
                PG&E
      designated hotel or equivalent

              
	
                Rental
      car:

              	
                4
      days plus gas

              
	
                Meals:

              	
                $75/day
      maximum for adults and children 16 years of age and older $40/day maximum
      for children under 16 years of age

              
	 
      	
                Alcoholic
      beverages are not reimbursed

              
	
                Ground
      transportation:.

              	
                If
      required, taxi.

              


      

      


      Receipts
required for all expenses.

      


      ENROUTE
EXPENSES (Final trip to new location)

      


      The
employee will be reimbursed for the expenses relating to travel expenses
necessary to move the members of the family from the old to the new
location.

      


      
        	
                Travel:

              	
                Travel
      for employee, spouse/domestic partner and dependent
    children

              
	 
      	
                Advance
      purchase, coach airfare

              
	 
      	 
      
	
                Lodging:

              	
                Up
      to 3 nights at a PG&E designated hotel.  This lodging is
      meant to cover the night(s) the employee may not be able to stay in the
      former residence because household goods have been
  removed

              
	 
      	
                OR
      at the new location as they cannot yet move into the new
      residence

              
	 
      	 
      
	
                Meals:

              	
                Up
      to 3 days, at the maximum rates noted above.

              
	 
      	
                Alcoholic
      beverages are not reimbursed.

              


      

      Receipts
required for all expenses.

      


      CORPORATE
HOUSING

      


      The cost
of corporate housing for the employee will be provided for up to 6 months, as
long as the employee is still financially responsible for their former
residence.  Corporate housing is unable to accommodate
pets.

      


      



      
        
           


        

        
          4

          
            

          

        

        
           


        

      


      


      
        HOUSEHOLD
MOVE AND STORAGE

      

      


      PG&E
will pay the cost to transport your household goods from your current residence
to your new permanent residence.  This includes full packing,
unpacking, disconnecting, and reconnecting appliances to EXISTING wiring, and
plumbing.  Service to appliances applies only to those appliances that
were moved.

      


      The
pickup of goods from only ONE location is authorized.  Additional
stops at pickup or delivery will be billed to you.

      


      If you
are unavailable for a pick-up or delivery and do not notify the movers in
advance, any additional charges will be billed to you.

      


      Items
associated with an in home business are EXCLUDED.

      


      Do not
contact any moving company; this will be done through Relocation
Services.

      


      The
assigned carrier will contact you to arrange for a survey of the goods to be
packed and moved.  When contacted by the carrier, be sure to inform
them of items that require special handling (piano, shop equipment, large
freezers, bulky items, etc.) or of any access problems (narrow or hillside
roads, stairs, etc.).

      


      DO NOT
arrange insurance for the move or storage of your goods.  This is
provided by PG&E.  Please be sure you declare the value of your
goods.  Should the value exceed $50,000, inform the carrier AND
Relocation Services so that additional insurance can be provided.

      


      A minimum notice of 30 working days
is required.  During summer months and Christmas holidays, more
lead-time is required.  Weekend moves are not authorized.  If
you request a weekend or holiday move, the overtime charges will be collected
directly from you upon delivery.

      


      It is
recommended that you or a member of your family be present during packing and
loading to make certain that a complete inventory is made.  Upon
delivery, you should inspect your belongings WHEN they are unloaded and unpacked
to be sure all items on the inventory are delivered.  You should
report loss or damage to the driver and note it on the
inventory.  Claims for lost or damaged items not on the inventory will
be denied.  All claims must be submitted within 90 days of delivery
date.

      


      It is
also recommended that on the day of delivery you allow for minimum unpacking
services.  PG&E has defined these as setting up beds, hanging
paintings and mirrors, and connecting lamps.  This will allow you to
settle in.  The remainder of the unpacking can be scheduled for the
next day.  Be sure you discuss your unpacking needs and preferences
before your move occurs.  This will allow for proper
scheduling.


      
        
           


        

        
          5

          
            

          

        

        
           


        

      


      


      PG&E
pay the following expenses directly to the mover:

      


      ·Cost of packing, moving, and
unpacking your household goods.  Unpacking is defined as removing the
packed articles from the box in the appropriate room and the removal of the
packing material on
the day of delivery.  Unpacking does not include putting
glasses and dishes on shelves or putting clothes in drawers.

      


      Packing
material MUST be removed on the day of delivery.  Extra pick-ups for
the removal of packing material are your responsibility.

      


      
        
          
            
              
                	 ●	
                        Cost
      of packing, moving, and unpacking your household
      goods.  Unpacking is defined as removing the packed articles
      from the box in the appropriate room and the removal of the packing
      material on the
      day of delivery.  Unpacking does not include putting
      glasses and dishes on shelves or putting clothes in drawers.

                         

                        

                          Packing
      material MUST be removed on the day of delivery.  Extra pick-ups
      for the removal of packing material are your
      responsibility.

                        

                      
	 	 
	
                        ●

                      	
                        Storage
      of your household goods for up to 60 days.  Storage costs in
      excess of 60 days will be billed directly to you upon
      delivery.  The cost to move the goods out of storage is paid by
      the company providing it is within one year of your date of
      hire.  It is your responsibility to arrange for payment of
      additional charges with the movers.  Be sure to verify what
      forms of payment are acceptable.

                      
	 
      	 
      
	
                        ●

                      	
                        Normal
      appliance service for washer, dryer, refrigerator, and freezer that were a
      part of the move.  New appliances delivered by a different
      source are excluded.

                      
	 
      	 
      
	
                        ●

                      	
                        Portable
      spas will be moved as long as plumbing and wiring is disconnected prior to
      the move.  This is an employee responsibility.  If a
      crane is required to move the spa, you will be charged for this
      service.

                      
	 
      	 
      
	
                        ●

                      	
                        Automobiles--interstate moves only
      (over 750 miles).  Value must exceed the cost of
      shipment.

                      


              

            

          

        

      

      


      
        EMPLOYEE
HOUSEHOLD MOVE INSTRUCTIONS

      

      
        	
                 

                PACKING

              


      

      


      At the
time of packing you or someone you can rely on should be present to note the
carrier inventory of goods and their condition.  You should write in
your exceptions (make reference to the carrier's item number) at the close of
the inventory before you
sign it.  The same inventory will be used at destination to check
complete delivery and condition.  You again should note exceptions
before you
sign.  Failure to note damage immediately may result in claims being
denied.

      


      Company
policy calls for the carrier to pack all normal household goods.  If,
for any reason, you desire to pack particular items, ask the carrier to provide
proper packing materials and containers.  The company will pay for
this material.  Items that require SPECIAL CARE should be called to
the attention of the movers.  Regulations affecting carrier's
responsibilities for goods you pack and unpack vary from state to
state.  Claims for loss or damage are more difficult to substantiate
when you pack or unpack part of your shipment.  Therefore, you are
encouraged to allow the carrier to do the entire job.


      
        
           


        

        
          6

          
            

          

        

        
           


        

      


      


      UNPACKING

      


      Unpacking
is defined as removing the packed articles from the box in the appropriate room
and the removal of the packing boxes on the day of
delivery.  This service does not include putting glasses and dishes on
shelves or putting clothes in drawers.  Extra pick-ups for the removal
of packing material are not authorized.  You may wish to unpack some
articles.  If you do, claims against the carrier for loss or damage
may be more difficult to substantiate.  Make sure the inventory shows
which articles you will unpack before you sign
it.

      


      Allowing
the movers to remove cartons and packing materials on delivery day will insure
that these materials are recycled.

      


      You or
your representative must be present at the time of delivery and
unpacking.  It is YOUR responsibility to insure that all items
delivered are checked off the inventory.

      


      Goods
will be placed in the area of the house that you designate.  Beds will
be assembled and mirrors attached to dressers.

      


      PACKING
AND PICK-UP DATES

      


      Bedding,
utensils, and clothing can be set aside for use on your last night and packed on
moving day.  After a date is agreed upon, the carrier is required to
give reasonable advance notice of delay, if unable to comply.

      


      DELIVERY
DATES

      


      At the
time your move is arranged, a delivery spread will be fixed according to your
request and the carrier's ability to comply.  Shipments of less than
2,000 pounds may require up to 14 days to deliver.

      


      DELIVERY

      


      You or
someone you can rely on should be present to check off each item on your
inventory as it comes into your residence. Make note of damaged or missing
articles on the driver's inventory BEFORE signing.

      


      HOUSEHOLD
APPLIANCES

      


      The
carrier will inform you which household appliances require special services for
transportation.  These may include washers, dryers, freezers, sewing
machines, televisions, refrigerators, etc.  Ice makers and portable
spas must be disconnected by
you prior to the day of the move.  Appliances will be
reconnected only to existing plumbing and
wiring.  Reconnecting icemakers and portable spas is not
authorized.

      


      When
portable spas are moved, should the use of a crane be required to lift the spa,
this cost will be billed to you.

      


      


      



      
        
           


        

        
          7

          
            

          

        

        
           


        

      


      


      BILL
OF LADING

      


      After
your goods are loaded, the driver will give you a bill of lading, which is the
contract of carriage as well as your receipt.  Be certain the bill of
lading shows the correct destination address and proper instructions for notice
of delivery.

      


      FAMILY
PETS

      


      The
company does not reimburse for the shipment of household pets.  You
must arrange for boarding, handling, shipping, insurance, shots, health
certificates, etc.  Your Cash Moving Allowance can be used for these
expenses.

      


      CARS

      


      You are
expected to drive your personal car to the new location.  However, for
interstate moves, the
shipment of a maximum of two cars may be authorized provided the distance is
greater than 750 miles.  The value of the vehicles authorized to be
moved MUST EXCEED the cost of shipment.  Do not pack household or
personal affects in a vehicle to be shipped.  The carrier cannot be
responsible for their loss or damage.  Automobiles are insured at Blue
Book value.  Automobiles are not stored.

      


      Please
plan the move of your automobiles in advance.  Cars may be shipped
prior to the move of your household goods.  Advance planning can
eliminate the need for rental cars.

      


      


      When
accepting delivery of a car, check the car thoroughly for damage.  Be
certain to check under the hood and the undercarriage for damage.  If
damage is not reported IMMEDIATELY, claims may be denied.

      


      Motorcycles
and power mowers can usually be shipped with household goods.  You
must drain gas and oil.

      


      STORAGE
LOCKERS

      


      The move
of household goods from public storage lockers is authorized provided an extra
stop is not required.  Goods will be packed and loaded from only one
location.  If goods are picked up from a storage locker, the employee
must contact the storage facility and arrange for all the necessary
releases/documentation.  You or your representative must be present to
sign the inventory.

      


      CHARGES

      


      The
company instructs carriers to bill for packing, moving, unpacking, and
in-transit storage when authorized.  You will be billed directly by
the carrier for additional shipments and services, which you
arrange.  Unless you have been extended credit prior to delivery,
payment for services you arrange must be by cash or certified
check.

      



      
        
           


        

        
          8

          
            

          

        

        
           


        

      


      STORAGE

      


      If
possible, you should select new quarters before your household goods arrive so
they can be delivered directly.  If you have not arranged for new
quarters by the time the goods arrive, in-transit storage may be
authorized.  You may be eligible for in-transit storage at a
company-authorized facility provided the need does not arise because of your
personal delay (e.g., vacation, enroute) in selecting
quarters.  Delivery out of storage may be authorized.  If
you elect to store your goods for a period longer than covered by the relocation
policy, you will be billed for the additional storage and insurance costs (COD)
when the goods are delivered.

      


      Should a
portion of your goods be delivered to a temporary location and the rest put
in-transit storage, you will be responsible for the cost to move the goods from
the temporary location.

      


      Storage
for longer than one year requires company approval.

      


      ITEMS
NOT AUTHORIZED TO BE MOVED

      


      The
following items are not authorized either due to company policy or legal
restrictions placed on the movers.

      


      
        	
                ●

              	
                Building
      material: bricks, rocks, gravel, lumber, cement, etc.

              
	
                ●

              	
                Combustible
      items: paint, lighter fluid, aerosols

              
	
                ●

              	
                Plants,
      shrubs, trees, fertilizer, dirt

              
	
                ●

              	
                Perishable
      foodstuffs and/or frozen foods

              
	
                ●

              	
                Pets
      or animals of any kind

              
	
                ●

              	
                Boats,
      boat trailers, recreational vehicles, trailers

              
	
                ●

              	
                Valuable
      jewelry, precious stones, furs

              
	
                ●

              	
                Valuable
      papers, securities, money

              
	
                ●

              	
                Ammunition
      and/or explosives

              
	
                ●

              	
                Tractors
      or farm implements other than those required for normal garden
      use

              
	
                ●

              	
                Firewood,
      coal

              
	
                ●

              	
                Articles
      of inherent or extraordinary value

              
	
                ●

              	
                Farm
      animals, horses, cattle, fowl, etc.

              
	
                ●

              	
                Items
      from a temporary residence

              
	
                ●

              	
                Items
      that cannot be attached a value (personal paintings, pottery,
      etc.)

              
	
                ●

              	
                Auto
      parts

              
	
                ●

              	
                Autos
      that cannot be driven

              
	
                ●

              	
                Satellite
      dishes

              
	
                ●

              	
                Wine
      and wine cellar shipments

              


      

      


      
        	
                 
      

              	
                SERVICES
      NOT AUTHORIZED

              


      

      


      The
following services are not authorized.

      


      
        	
                ●

              	
                Storage
      of automobiles

              
	
                ●

              	
                Weekend
      or holiday moves, overtime

              
	
                ●

              	
                Extra
      pick-up and/or delivery

              


      


      
        
           


        

        
          9

          
            

          

        

        
           


        

      


      


      
        	
                ●

              	
                Disassembly
      and reassembly of playhouses, tool sheds, swimming pools/spas, TV
      antennas, satellite dishes, workbenches, play equipment

              
	
                ●

              	
                Installation
      of television antennas, tool sheds, play equipment,
etc.

              
	
                ●

              	
                Removal
      of wall-to-wall carpeting and/or draperies

              
	
                ●

              	
                Providing
      or moving electrical/gas outlets for appliances

              
	
                ●

              	
                Disconnecting/connecting
      ice makers or portable spas

              
	
                ●

              	
                Venting
      dryers

              
	
                ●

              	
                Reconnecting
      water softeners

              
	
                ●

              	
                Draining
      and refilling waterbeds

              
	
                ●

              	
                Moving
      items from a temporary living location

              
	
                ●

              	
                Storage
      of household goods, other than in-transit

              
	
                ●

              	
                Extra
      pick-up for removal of packing material

              
	
                ●

              	
                House
      cleaning

              
	
                ●

              	
                Exclusive
      use of a van to expedite service

              
	
                ●

              	
                Crane
      service for a spa

              


      

      


      


      INSURANCE

      


      The
company has arranged for insurance coverage of personal property shipped and/or
stored by the company-approved household goods carriers.

      


      PG&E
provide insurance (full replacement value) for household goods up to
$50,000.  Automobiles authorized for interstate moves are insured at
Blue Book value.  If the estimated value of goods exceeds $50,000, you
must declare full value of your household furnishings to the carrier and
Relocation Services so that additional coverage can be provided.

      


      
        	
                 
      

              	
                NOTE:Movers
      will accept items such as televisions, stereos, personal computers,
      recording equipment, and other similar items for
      shipment.  However, they will not accept liability for internal
      damage to the equipment or appliances caused by moving, vibrations or
      other normal handling.  They will only accept liability for
      damage when there is EXTERNAL VISUAL DAMAGE caused by maltreatment and the
      condition of the item is noted at the time of
  delivery.

              


      

      


      You must
carry with you such articles as money, valuable documents, credit cards,
jewelry, watches, firearms, live plants, etc.  Carriers cannot insure
these articles.  You
should transport irreplaceable articles.  Settlement of claims
requires that damaged goods be
surrendered to the insurance company when a replacement is
provided.

      


      
        	
                 
      

              	
                All
      claims for loss or damage to Household goods should be submitted directly
      to

              


      

      
        	
                 
      

              	
                the
      insurance company.  Claims for damage to your home should be
      submitted

              


      

      
        	
                 
      

              	
                directly
      to the carrier.

              


      

      


      ALL CLAIMS MUST BE SUBMITTED WITHIN 90
DAYS OF DELIVERY.

      



      
        
           


        

        
          10

          
            

          

        

        
           


        

      


      


      
        
          	
                  ARTICLES
      OF VALUE

                


        

      

      


      Articles
of sentimental value, documents, jewelry, family portraits, photo albums, stamp
and coin collections, birth certificates and diplomas are examples of articles
that fall into this category.  The company will NOT assume
responsibility for safe movement of such articles.

      


      


      
        
          	
                  HIGH
      VALUE ARTICLES

                


        

      

      


      Antiques,
heirlooms, rare book and art works or items with difficult to establish value
fall into this category.  In order for the company to assume
responsibility for high valued articles, you MUST list them and declare their
value.  You MUST be able to verify the value claimed with purchase
documents or current professional appraisals.  If you must have items
appraised to establish value, it will be at your expense.  If you are
unable to verify the declared value, claims will be settled on the basis of the
utilitarian value of the item.

      


      
        
          	
                  IMPORTANT
      HINTS

                


        

      

      


      
        	
                ●

              	
                Be
      certain your new residence can accommodate the furniture you are
      moving.  Measuring the rooms prior to moving can help you
      determine whether or not all furniture should be
      transported.  If not, you may want to dispose of it at your old
      location.

              
	
                ●

              	
                Be
      certain the movers can contact you on the day of the move by providing
      them with a cell phone number.

              
	
                ●

              	
                Keep
      the telephone number of the movers handy on moving day.  You may
      need to contact them during the move or during
delivery.

              
	
                ●

              	
                Leave
      a message telephone number with the movers.  It may be necessary
      to contact you during the move or prior to the delivery of
      goods.

              
	
                ●

              	
                Notify
      the driver or movers IMMEDIATELY of any damaged or missing items. to
      report damage or missing items immediately may result in claims being
      denied.

              


      

      


      


      Items not
usually considered to be normal household goods and those not suited to
furniture van transport are excluded; these include but are not limited to
large

      machinery,
boats, recreational vehicles, plants, building materials, frozen food, items
related to a home business, and items which cost more to ship than the
value.

      


      


      


      



      
        
           


        

        
          11

          
            

          

        

        
           


        

      


      


      


      
        SELECTING
A REAL ESTATE AGENT

      

      


      Program
guidelines require you to work with agents from an approved list to list your
home.

      


      As a new
hire your time is very valuable-you have a LIMITED amount of time in which to
complete house hunting and get settled in your new location.  For this
reason, if you are not satisfied with the service your real estate agent is
providing, do not hesitate to request another agent.  Although you may
feel obligated to the first agent because they have spent time showing you
homes, you do not owe them anything.

      


      


      
        PG&E
REALTOR NETWORK

      

      


      The home
purchase firm and PG&E have created a list of preferred real estate agents
to assist employees in obtaining quality service.

      


      The home
purchase firm or PG&E’s Relocation Department will automatically refer an
employee to a preferred agent in the new location.

      


      ADVANTAGES
TO YOU

      


      It is
common practice in the real estate industry for a real estate broker in one
community to refer a prospective homebuyer to a real estate agent in another
community.  Then if the homebuyer is successful in buying, the broker
who receives the homebuyer as a client pays a “referral fee” to the broker who
gave the referral.

      


      Unfortunately,
in most cases a real estate broker refers the homebuyer to a broker in another
area or state who is UNKNOWN to the broker.  Usually the only criteria
the selected broker had to meet was that he/she was listed in a national book of
brokers willing to pay a referral fee.

      


      On the
other hand, because the home purchase firm and PG&E list homes with real
estate firms all over the country every day they are in an ideal position to
evaluate the professionalism, track record and quality of services offered by
different firms.  As a result, the real estate brokers in the
“PG&E” network are screened professionals who are knowledgeable about
residential real estate transactions AND the special needs of corporate new
hires.  This is VERY IMPORTANT because a broker who is not
knowledgeable or professional can seriously hinder your purchasing
efforts.

      


      


      



      
        
           


        

        
          12

          
            

          

        

        
           


        

      


      


      In
addition, the home purchase firm and PG&E continually monitor the
performance of these brokers.  The brokers realize that in addition to
serving the new hire needs, they are working for PG&E as well.  As
a result, the brokers in the network will be attentive to your needs so they can
be assured of continued business.

      


      It is
critical that you have a knowledgeable real estate broker when looking for a
home in your new area.  You will need to rely on the broker to show
you where schools and amenities are located, explain what home values are doing
in different areas, and possibly give you guidance regarding what types of homes
traditionally have a shorter marketing time.

      


      The
brokers in the network will be thoroughly familiar with the area where you will
be house hunting.  Should you decide to house hunt in an area
unfamiliar to the broker, he or she will refer you back to the home purchase
firm so you can be referred to a broker that is familiar with that particular
area.

      


      They can
also offer some guidance regarding home values in an area by showing you sales
prices of comparable homes that have recently sold.  Unfortunately, IT
IS NOT unusual for an “out-of-town” buyer to overpay for a home if the buyer has
moved from an area of higher priced homes and the broker does not take time to
show the buyer what similar homes sold for.

      


      The firms
and brokers in the network have demonstrated that they can help you find a home
and neighborhood that is right for you.  They have done this by
joining professional organizations that educate brokers on the specific needs of
corporate new hires.

      


      Along
with the definite advantages to you, the network offers advantages to PG&E
as well.  If you buy a home through a network referred real estate
firm, that firm will pay PG&E a “referral fee”.  This revenue will
then be used to offset relocation expenses to PG&E.  And because
the costs to relocate employees is high, it makes good competitive business
sense to take advantage of the opportunity to reduce expenses whenever
possible.

      


      As a
final point, it is important for you to know that the payment of a referral fee
does not affect the price you pay for a home.

      


      FOR
THESE REASONS, ALL RELOCATING NEW HIRES ARE REQUIRED TO USE THE HOME
PURCHASE/PG&E BROKER REFERRAL NETWORK WHEN SELLING AND/OR BUYING A
HOME.

      


      Employees
who are not currently home owners or employees who do not participate in the
Home Sale Assistance Program should contact call Relocation Services to request
a referral.

      


      


      


      



      
        
           


        

        
          13

          
            

          

        

        
           


        

      


      


      HOUSE
HUNTING TIPS

      


      Some of
the following suggestions may aid you in your search for a home in your new
location.

      


      
        	
                ●

              	
                Be
      cautious if you are moving to a lower cost area.  What may
      appear to be a bargain based on prices in your present location may be
      overpriced in your new location.  New hires have a reputation
      for paying MORE for homes in their new location than someone who is
      already living in the area and is more familiar with the
      market.  Look around enough to be able to judge local
      values.

              
	 
      	 
      
	 
      	
                This
      is where a PG&E approved real estate agent can be of
      value.

              
	 
      	 
      
	
                ●

              	
                When
      looking at homes, keep your top two or three choices in
      mind.  In this way, when you begin negotiations on you first
      choice, you will have more leverage if they know you also have one or two
      more homes on which you are willing to make offers.

              
	 
      	 
      
	
                ●

              	
                If
      you are thinking about building a home in your new location, it may be
      advisable to reconsider.  You will be in a new job, which may
      initially involve more time on the job and this, coupled with the demands
      and stresses of new home construction, may be a large
    burden.

              
	 
      	 
      
	
                ●

              	
                You
      should keep in mind that under current relocation policy investments in
      most improvements, personal property, etc. will not be protected -
      you will only be protected on the LESSER of the TRUE purchase price of the
      home or the appraised value established by the lender at time of
      purchase.

              
	 
      	 
      
	
                ●

              	
                If
      you anticipate being relocated again, you should strongly consider buying
      the home you want rather than buying a lesser home and making major
      improvements.  ALWAYS THINK RESALE.

              
	 
      	 
      
	
                ●

              	
                You
      should ALWAYS make your offer to purchase contingent on

              
	 
      	
                --building inspections reports that are satisfactory, even
      if you are 

              
	 
      	
                     purchasing
      a newly constructed home

              
	 
      	
                --the
      property appraising at purchase price or higher

              
	 
      	
                --obtaining
      financing

              


      


      
        
           


        

        
          14

          
            

          

        

        
           


        

      


      


      
        HOME
SALE ASSISTANCE PROGRAM

      

      


      The Home
Sale Assistance Program is an option available to help you sell your home for
the best price given CURRENT MARKET condition.  To achieve this goal,
the home purchase firm will talk with you and the REALTOR to establish a list
price and marketing strategy.  If you are unable to secure a sale, you
may elect to accept the Appraised Value Offer

      


      The Home
Sale Assistance Program is available if your home qualifies and if you abide by
program guidelines.  Mobile homes and homes owned with a
non-Spouse/Domestic Partner are ineligible for this program.  Your
must sign and return the Home Sale Assistance Agreement to initiate
participation in the program.

      


      Briefly,
the program works as follows.  Your home must meet program
guidelines.  You must inform Relocation Services within 7 days of your
effective date of hire that you are requesting participation in the Home Sale
Assistance Program and return a signed copy of the Home Sale Assistance
Agreement. Relocation Services will then notify the home purchase firm of your
interest and a consultant will contact you with details of the program, which
includes:

      


      
        	
                ●

              	
                Prelisting
      Analysis and Strategy (Brokers Market Analysis) using an approved list of
      realtors

              
	
                ●

              	
                Listing
      Price Recommendation and Approval

              
	
                ●

              	
                The
      Appraised Process

              
	
                ●

              	
                The
      Amended Value Program

              
	
                ●

              	
                The
      Appraised Value Program

              
	
                ●

              	
                Equity
      Advances

              


      

      


      In order
to participate in the program you may not list your home for sale
until the prelisting analysis is completed and presented to
you.  After review of this data with you, a recommended list price
will be determined.  You may list your home prior to the appraisal
process being completed.  The initial list price is based on the
Brokers Market Analysis.  Once the appraisal process is completed, it
may be necessary to adjust the list price since it must be within program
guidelines.  The current list price guideline is:

      


      List
price cannot exceed current listing guidelines.

      


      


      The
agents will complete the prelisting analysis and marketing
strategy.  You must list your home within the listing guidelines and
actively market it for 45 days.

      


       

      


      



      
        
           


        

        
          15

          
            

          

        

        
           


        

      


      The
purpose of the prelisting analysis is to acquaint you with current market
conditions. It will enable you to make the best use of the time available to you
to market your home, usually about 60 days.  In today's market initial
pricing is critical to securing a sale.  While your home is on the
market the appraisal process will also begin.  Once the appraisal
process is completed and the Appraised Value Offer determined your initial list
price may require adjustment.

      


      Failure
to observe listing guidelines will disqualify you from the program.

      


      


      
        INTRODUCTION

      

      


      This Home
Sale Assistance Program is designed to help you sell your home for the current
market value.  By using this service, you can receive your equity and
move on to the new location.  You will then be free to concentrate on
your new job.  This section outlines the PG&E Home Sale Assistance
Program.

      


      The goal
of the Home Sale Assistance Program is to assist you in obtaining the highest
possible price for your home in the current market.  To achieve this
goal, the home purchase firm will work with you and your Realtor to
develop a marketing strategy and assist you to negotiate the highest
price.

      


      After
negotiating a sale, DO NOT sign any document or accept any
deposit.  Contact your Consultant IMMEDIATELY.  Signing any
documents could jeopardize your participation in the program and favorable tax
treatment.

      


      Several
documents must be completed and returned to the home purchase firm whether you
assign an offer or accept the Appraised Value Offer.  Your Consultant
is available to assist you and your Realtor completes the necessary
documents.  Your transactions cannot be completed until the home
purchase firm receives all required documentation.

      


      PG&E
reimburses the home purchase firm for the normal seller's closing costs
associated with acquiring and selling your home.  These include
initial assessments (inspections), appraisals, as well as broker
commissions.  The home purchase firm receives a flat service fee from
PG&E for providing these services.

      


      It is not
the home purchase firm's purpose to benefit from or make a profit on the sale of
your home.  Helping you get the best possible price for your home
within a reasonable time is everyone's objective: Yours, PG&E's and the home
purchase firm's.

      


      


      


      



      
        
           


        

        
          16

          
            

          

        

        
           


        

      


      
        AN
OVERVIEW

      

      


      You are
allowed up to seven days
from the date of hire to request this service from Relocation Services by
returning the Home Sale Assistance Agreement to Relocation
Services.

      


      
        	
                ●

              	
                Your
      Consultant will contact you to provide an overview of the
      program.  This contact will occur within 48 hours of Relocation
      Services notifying the home purchase firm of your
  interest.

              
	 
      	 
      
	
                ●

              	
                Your
      consultant will provide you with a list of approved agents to select
      from.

              
	 
      	 
      
	
                ●

              	
                The
      agents will complete the Prelisting Analysis and Marketing Strategy PRIOR
      to listing your home.  Spouse/Domestic Partners and family
      members are ineligible to list an employee’s home.  Two Broker’s
      Market Analysis will be obtained.

              
	 
      	 
      
	
                ●

              	
                Upon
      review of this material with you, the home purchase firm will recommend an
      initial list price.

              
	 
      	 
      
	
                ●

              	
                Local
      independent appraisers selected by you from an approved list will appraise
      your home.

              
	 
      	 
      
	
                ●

              	
                Upon
      receipt of the Appraisal Value Offer, your list price must be within
      current program guidelines.

              
	 
      	 
      
	
                ●

              	
                Property
      assessments (inspections) appropriate to the age and condition of your
      home are required and will be ordered by the home purchase
      firm.

              
	 
      	 
      
	
                ●

              	
                The
      home purchase firm will extend an Appraised Value Offer to purchase your
      home.  This offer is valid for 60 days.

              
	 
      	 
      
	
                ●

              	
                You
      may assign an offer or accept the Appraised Value Offer at any time during
      the 60-day marketing period provided your home has been listed for at
      least 45 days.

              
	 
      	 
      
	
                ●

              	
                You
      must present and review ALL offers with your Consultant even though they
      may be less or seem less than the Appraised Value Offer.  This
      will assist you in determining which offer will net you the greatest
      amount.  The review will also confirm which closing costs are
      reimbursable under the PG&E program.

              
	 
      	 
      
	
                ●

              	
                Once
      you assign an offer or accept the Appraised Value offer, you may receive
      an advance on your equity before the close of escrow for use as an earnest
      deposit/down payment on your new home.  This advance is based on
      the Appraised Value Offer, not the sales
price.

              


      


      
        
           


        

        
          17

          
            

          

        

        
           


        

      


      
        ELIGIBILITY

      

      


      To be
eligible for this program, your home must meet the following
requirements:

      


      
        	
                ●

              	
                A
      completed typical single -family dwelling or condominiums on a standard
      size lot (less than one
      acre).  Unusual homes such as geodesic domes, earth
      homes, log cabins, houseboats, A-frames, Victorians and other specialty
      homes are excluded.

              
	 
      	 
      
	
                ●

              	
                Homes
      older than 40 years may be ineligible.  Exceptions may be made
      if the homeowner can provide a letter of code compliance (dated within the
      last 5 years) from the appropriate governmental inspection
      office.

              
	 
      	 
      
	
                ●

              	
                Your
      principal
      residence and where you currently
      reside

              
	 
      	 
      
	
                ●

              	
                Owned
      only by you and/or your Spouse/Domestic Partner (an ex-Spouse/ Domestic
      Partner or parent cannot be on the title)

              
	 
      	 
      
	
                ●

              	
                Determined
      to be marketable by PG&E

              
	 
      	 
      
	
                ●

              	
                Mortgage
      payments, Real Estate taxes, and Association dues must be
      current.

              
	 
      	 
      
	
                ●

              	
                Zoned
      residential.  Rural residential zoning or lots larger than one acre do not
      qualify.

              
	 
      	 
      
	
                ●

              	
                All
      required building permits and private road maintenance agreements must be
      recorded

              
	 
      	 
      
	 
      	
                It
      is also important to note the following:

              
	 
      	 
      
	 
      	
                Your
      Listing Agreement must include the "Exclusion Clause."

              
	 
      	 
      
	
                ●

              	
                You
      must list your home and actively market it for at least 45
      days.

              
	 
      	 
      
	
                ●

              	
                When
      you request the home purchase firm's assistance, your home must be
      available for sale.  It cannot have been rented or leased within
      the prior 12 months.  It cannot be rented or
      leased after you elect to participate.  All construction and/or repairs
      must be completed prior to requesting the Home sale Assistance
      Program.

              
	 
      	 
      
	 
      	
                If
      upon appraisal and subsequent inspection, it is determined that repairs
      are required, you may either undertake and pay for those repairs OR allow
      the home purchase firm to order repair work and deduct twice the cost
      (except for termite work) from your final equity.  Excess funds
      withheld will be returned upon completion of the work.

              
	 
      	
                Major
      structural defects may affect the marketability of a home and may
      disqualify a home from the Home Sale Assistance
  Program.

              


      


      
        
           


        

        
          18

          
            

          

        

        
           


        

      


      


      
        	
                ●

              	
                Homes
      containing UFFI, asbestos (interior or exterior), an unacceptable level of
      radon gas, or any other toxic substance are ineligible.

              
	
                ●

              	
                Homes
      with LP siding or synthetic stucco are ineligible.

              
	
                ●

              	
                Homes
      with toxic mold.

              
	
                ●

              	
                Homes
      containing a well must have water rights.  In addition, the
      water supply must be BOTH potable and ample under local
      standards.

              
	
                ●

              	
                Farms,
      places of business, cooperative apartments, mobile homes, duplexes,
      vacation and income (rental) property are ineligible.

              
	
                ●

              	
                The
      land on which the residence is located must constitute a lot of standard
      size for the area and be zoned residential.  Land not reasonably
      necessary for the use and enjoyment of the property as a single-family
      dwelling, such as additional lots or farm acreage, is
      excluded.

              
	
                ●

              	
                Condominiums
      must meet the following guidelines:

              


      

      


      --Only twenty percent (20%) of the total number of finished units
can be 

            vacant
and/or unsold.

      


      --Only twenty percent (20%) of the units may be owned by
absentee  

            investors
for rental purposes.

      


      --Association dues/Assessments per year (net of utilities) should
not exceed

      two
percent (2%) of the estimated fair market value of the condominium
unit.

      
       -- Condominium
units in the complex must be mortgageable by FNMA

            standards.

      


      -- Condominium Associations must be in sound financial
condition as

            evidenced
by (I) current financial statements, (II) sufficient replacement

            reserves,
(III) no rapid increase association dues, and (IV) no unusual or

            excessive
liens.

      


      
        
          	
                  Your
      are responsible for providing verification of the
  above.

                


        

      

      


      
        	
                ●

              	
                Other
      factors which may affect the eligibility of a property for this program
      include, but are not limited to, the
following:

              


      

      


      --Legal/title problems (liens, judgments)

      


      --Property line issues (properties with private roads must have a
recorded 

      road
maintenance agreement)

      


      
        	
                 
      

              	
                --Structural
problems/damage

              


      


      
        
           


        

        
          19

          
            

          

        

        
           


        

      


      
        	
                 
      

              	
                -- Expansive
soil

              


      

      


      
        	
                 
      

              	
                -- Safety or code
violations

              


      

      


      
        	
                 
      

              	
                -- Unmarketable
title

              


      

       

      
        	
                 
      

              	
                --Inability to meet conventional lender or insurance
      requirements

              


      

      


      
        	
                 
      

              	
                --Properties in
foreclosure

              


      

      


      
        	
                 
      

              	
                --Bankruptcy

              


      

      


      
        	
                 
      

              	
                 --Special
      financing (e.g., first-time buyers)

              


      

      


      
        	
                 
      

              	
                If
      your home is subject to any of the items listed above, inform Relocation
      Services.

              


      

      


      
        	
                ●

              	
                PG&E
      RETAIN THE RIGHT TO MAKE THE FINAL DECISION ON THE ELIGIBILITY OF A HOME
      FOR THE HOME SALE ASSISTANCE
PROGRAM.

              


      

      



      
        
           


        

        
          20

          
            

          

        

        
           


        

      


      
        REQUIRED
INSPECTIONS/DISCLOSURE

      

      


      Pest and
General Home Inspections are required for all homes.  If you have a
pool and/or spa that is being sold with the home, a pool/spa and equipment
inspection is required.  If the appraisers or pest inspector
recommends a roof inspection, one will be ordered.  If applicable, a
septic system/well inspection, radon gas or any other inspections required to
satisfy local codes will be ordered.  In some cases, a structural or
soil inspection may be ordered.  All inspections will be ordered and
paid by the home purchase firm.  Copies of the reports will be
provided to you.

      


      Payment
for any termite work (Section I and II), pool, spa, septic system, roof work
and/or repair, as well as any repairs required by a general home inspection will
be your responsibility.  Re-inspection charges may be your
responsibility.  In the event a report calls for the further
inspection of inaccessible
areas, funds will be withheld in the event that repairs are
required.

      


      You may
order the work done at your expense and submit the re inspection reports
directly to the home purchase firm.  Re inspection reports are
required before final equity can be released.

      


      Twice the
amount of the estimate, except for termite repairs, will be withheld for he cost
of repairs not completed prior to you vacating your home.  Any refund
will be forwarded to you with a revised closing statement after the work has
been completed.

      


      All
repairs to correct any local code violations as well as damage, dry rot, etc.,
must be completed prior to you vacating your home.  Permits required
by the local government agencies must be on file.

      


      Disclosure
laws mandate PG&E and the home purchase firm to provide copies of all
reports to potential buyers.  The cost of repairs is not
disclosed.

      


      Employees
are responsible for making full
disclosure on their property.  Any litigation resulting from
improper disclosure will be solely the employee's
responsibility.


      
        
           


        

        
          21

          
            

          

        

        
           


        

      


      
        YOUR
OPTIONS

      

      


      
        
          	
                  PG&E
      provides you with the following Home Sale Assistance
    options:

                


        

      

      


      
        	
                ●

              	
                Amended
      Value--Sell your home to a buyer of your choice for a
      price that is equal to or more than the Appraised Value Offer and assign
      the offer to the home purchase firm who will coordinate the
      closing.  Program guidelines must be
followed.

              
	 
      	 
      
	
                ●

              	
                Appraised
      Value Offer--Amend the offer and sell your home to
      the home purchase firm for the Appraised Value Offer. 

              
	 
      	 
      
	
                ●

              	
                Sell
      your home without the assistance of the home purchase firm.  You
      will be reimbursed typical seller's Closing Costs.  When
      selecting this option, employees are encouraged to consider the tax
      consequences associated with this
reimbursement.

              


      

      


      


      
        LISTING
YOUR HOME FOR SALE

      

      


      To be
sure you receive the best possible price for your home and to test the market
value, it is recommended that you list your property with an approved
REALTOR.  For maximum exposure, insist upon a multiple-listing
agreement of no more than 60 days.

      


      To
provide for cancellation of the listing agreement should you accept the home
purchase firm's offer, the listing agreement must include the Exclusion
Clause.

      


      WITHOUT
THE EXCLUSION CLAUSE IN YOUR LISTING AGREEMENT YOUR HOME CANNOT QUALIFY FOR THE
HOME SALE ASSISTANCE PROGRAM.  A COPY WILL BE PROVIDED BY THE HOME
PURCHASE FIRM.

      


      Your
listing agreement must be in writing.  For your own protection, leave
no blanks and be sure to insert the exclusion clause before signing any listing
agreement.

      


      Should
you encounter any difficulty in having your listing accepted with this
provision, call your Consultant immediately.  Your Consultant can
usually address the Realtor’s concerns with a phone call.

      


      If
an employee, Spouse/Domestic Partner, or family member is a REALTOR, it is a
conflict of interest for the company to reimburse members of a relocating family
for services (commission) connected with the sale of the old home or purchase of
a new home.

      



      
        
           


        

        
          22

          
            

          

        

        
           


        

      


      
        MARKETING
TIPS

      

      


      The home
purchase firm has a great deal of knowledge and experience in the real estate
market.  They understand that a home is often a family's greatest
single asset.

      


      To obtain
the best price within the time limits of your relocation, the following steps
are recommended:

      


      Before
you list your home at a specific asking price, spend a few hours with a REALTOR,
touring your community and examining recent comparable sales as well as current
listings.  By doing this, you will be viewing your home in the same
competitive arena as a potential buyer.

      


      The
prelisting Broker’s Market Analysis required by PG&E will provide you recent
price and other information about comparable homes in your area that have sold
and closed.  This information will assist you in knowing the
competition and in arriving at a REALISTIC and COMPETITIVE list
price.

      


      Pricing
realistically in relation to your specific market is critical.  Local
REALTORS will be able to market your home more effectively if it is priced
correctly.  Homes sell best when they are properly priced for the
specific marketplace.

      


      In
estimating value, potential buyers and appraisers consider the condition of your
home.  Not surprisingly, a well maintained home has greater buyer
appeal.  If you have any deferred maintenance, you will want to
complete it to make your home as marketable and competitive as
possible.

      


      Start the
appraisal process as quickly as possible.  You'll be able to price
your home realistically in relation to the market.

      



      
        
           


        

        
          23

          
            

          

        

        
           


        

      


      
        THE
APPRAISAL PROCESS

      

      


      The
appraisal process establishes the Probable Sale Price of your property based on
two appraisals.  This procedure requires approximately 15 working
days.  Should a third appraisal be required, the process will take
longer.  Once the home purchase firm has been notified by PG&E of
your request to participate, your Consultant will call you within two business
days to arrange for your home to be appraised.  At that time, you will
be provided with names of appraisers.  You will be asked to select
two, plus an alternate.  The alternate will be used if one of the
original two is unavailable or if a third appraisal is required.  You
must notify the home purchase firm of your selections as soon as possible, but
no later than two weeks
after receiving the names.

      


      After you
have selected appraisers, the home purchase firm will contact them with
instructions to call you as soon as possible to arrange an appointment to
appraise your home at a mutually convenient time.  You should schedule
the visits of the appraisers for different times.  Allow at least two
hours between appointments.  If you have any special timing problems
in connection with the appraisal of your home, your Consultant can make this
fact known to the appraisers at the outset.  The home purchase firm is
required to notify PG&E of any delays.

      


      The
appraisers are independent professionals, experienced in the valuation of
properties in your neighborhood.  Appraisers are selected by virtue of
their demonstrated qualifications and past performance.  The home
purchase firm must receive the written report establishing an anticipated sale
price within ten business days of inspecting your home.  It will take
the home purchase firm 3-4 days to review the appraisals.

      


      
        
          	
                  Who
      Are the Appraisers?

                


        

      

      


      First,
the appraisers are designated professionals who specialize in appraising
residential properties.  Second, they are independent fee
appraisers.

      


      The home
purchase firm selects and lists appraisers after careful screening for
experience, professionalism, and accuracy.  Appraisers are evaluated
through continuous monitoring of their performance.

      


      



      
        
           


        

        
          24

          
            

          

        

        
           


        

      


      
        HOW
THE APPRAISAL PROCESS WORKS

      

      


      Homes are
purchased on a comparative basis.  Buyers shop the market, comparing
available homes and seeking the best values.  A home must be
REALISTICALLY priced in order to sell.  Overpriced homes normally do
not sell and soon become overexposed, making a sale difficult.  In
order to establish a realistic price range, it is essential that the market
value of your property be accurately determined.  The first step
involves engaging qualified, independent, professional appraisers to inspect and
evaluate your property.

      


      
        
          	
                  What
      Is an Appraisal?

                


        

      

      


      An
appraisal is a carefully derived estimate of market value, as of a specific
date, based on a logical study of the local real estate market, the condition of
the property, financing conditions, and other general and specific data that are
currently in effect or will most likely occur within a marketing period of
90-120 days (list to close).

      


      
        
          	
                  What
      Is a Market Value?

                


        

      

      


      Market
value is defined as "an estimate of the price to be paid for a property by a
well-informed buyer based on current and forecast market trends."  It
represents the most accurate means available for projecting what a home will
sell for on the open market.

      


      
        
          	
                  How
      Appraisers Estimate Value

                


        

      

      


      To arrive
at a market value estimate, an appraiser must consider both general and specific
data as well as the comparison of similar homes.  General data
includes regional, city, and neighborhood information and incorporates physical,
economic, social, and political factors that may influence property
value.  Specific data pertains to the property itself.

      


      
        
          	
                  GENERAL
      DATA

                


        

      

      


      
        	
                ●

              	
                Supply
      and Demand

              


      

      


      
        	
                 
      

              	
                The
      number of people buying homes and the number of homes on the market
      affects property values. However, if a sellers' market or buyers' market
      exists in a particular neighborhood, it does not necessarily follow that
      the same condition is true elsewhere.  In appraising your
      property, the appraiser will consider local supply and
      demand.  How many homes are for sale in your immediate
      neighborhood?  How quickly are they being sold?  What
      are the conditions surrounding the
sale?

              


      

      


      
        	
                ●

              	
                Location

              


      

      


      
        	
                 
      

              	
                The
      general condition of homes in your immediate neighborhood and
      accessibility to shopping, schools, and transportation are key
      factors.  Proximity to heavy traffic, commercial establishments
      or industrial zones can adversely affect property
  values.

              


      


      
        
           


        

        
          25

          
            

          

        

        
           


        

      


      


      
        	
                ●

              	
                Economic
      Conditions

              


      

      


      
        	
                 
      

              	
                Economic
      conditions vary from region to region.  Strikes, plant closings,
      foreclosures, and outgoing group moves can have a depressing impact on
      property values.  However, new plant openings, incoming group
      moves, or locally awarded contracts can have an uplifting
      effect.

              


      

      


      
        	
                ●

              	
                Financing
      Conditions

              


      

      


      
        	
                 
      

              	
                The
      cost (interest rates, discount points, etc.) and availability of mortgage
      financing both have substantial impact on housing prices.  If
      financing is costly or scarce, the market value of your home may be
      favorably affected if it has a high balance assumable mortgage with a low
      interest rate.

              


      

      


      
        	
                ●

              	
                Political
      Factors

              


      

      


      
        	
                 
      

              	
                State
      and local governments can affect property values.  school bonds,
      zoning changes, property reassessment, new school appropriations, as well
      as taxes and education, all impact housing
  prices.

              


      

      


      
        
          	
                  SPECIFIC
      DATA

                


        

      

      


      After
collecting general data, the appraiser next analyzes a number of relevant
specifics.  If the inspection appears to move along at a relatively
rapid pace, remember an appraiser is an informed professional whose trained eye
misses little.

      


      
        	
                ●

              	
                Condition
      Viewed From Outside Your Home

              


      

      


      


      
        
          	 	
                  Does
      your property have "curb appeal"?  On first seeing your home
      from the street, what will a prospective buyer think?  Does the
      general condition of the home and lot contribute to the home's
      attractiveness?  Is there demand for your architectural
      style?  Is your home on a public or private
      street?  Is the street paved?  Does it have a
      sidewalk?  Does your community have a public water supply, a
      sewage system, or does it depend on a well or septic
    system?

                


        

      

      


      
        	
                ●

              	
                Condition
      Viewed From Inside Your Home

              


      

      


      
        	
                 
      

              	
                On
      entering your home, what will a prospective buyer think?  This
      is especially true in a Buyer’s market.  Does the overall
      condition reflect pride of ownership?  Does the floor plan
      afford a satisfactory flow of traffic?  Is the closet space
      adequate?  Is the kitchen spacious and up-to-date?  Is
      the decor neutral or is it too personalized?  The appraiser will
      record number of rooms, bedrooms, baths, kitchen, dining room, family, or
      similar rooms, and the dimensions of each.  The appraiser will
      closely observe quality of construction, floor coverings, paint,
      wallpaper, age, type, and condition of kitchen appliances and anything
      else that reflects the overall condition of your
  home.

              


      


      
        
           


        

        
          26

          
            

          

        

        
           


        

      


      


      Appraisals
are affected by many factors: a fireplace, lot size, topography, a garage
"under" versus one that is attached or detached, a screened porch as opposed to
an open deck, a swimming pool, tennis court, and even the electrical system
(ample circuits for anticipated demand).  Method of heating as well as
energy savers such as insulation are significant factors in today's
environment.

      


      
        
          	
                  COMPARISON
      WITH SIMILAR HOMES

                


        

      

      


      
        
          	
                  Comparable
      Sales

                


        

      

      


      An
appraisal is not complete unless your property is compared with similar homes
that have recently sold and closed.  Comparable sales analysis is one
of the most important elements in a professional
appraisal.  Appraisers use a comprehensive data bank of homes to find
satisfactory comparables.  Individual properties that are
substantially different are difficult to compare.

      


      The
appraisers are instructed to select at least three comparable properties for
comparison.  Each would ideally be in the general neighborhood of the
appraised home, similar in size, style, and construction, and sold within the
last three or four months.  Such criteria cannot always be
met.  If the criteria cannot be met, the appraiser will make every
effort to find the best comparables.

      


      Appraisers
make adjustments to compensate for any differences which significantly impact
market value such as date and terms of sale, location, or architectural style of
the home.  Adjustments for improvements reflect the appraiser's
estimate of the market value rather than the original or replacement
cost.  Certain improvements may not be valued as highly by prospective
purchasers as their cost would indicate.

      


      A
property may be over improved.  Your landscaping may be superior to
that of your neighbors.  You may have a cabana and swimming
pool.  However it is often difficult to sell a house for $150,000 in
an area of $100,000 homes.  Along the same lines, your decor may be
unique and could have limited appeal.  The appraiser is asked for an
opinion, "Will this property sell without any qualifications in its current
condition?"

      


      The offer
the home purchase firm extends is the result of a thorough review of the
appraisals to ensure completeness, accuracy, and consistency.  Only
then will the appraisers' market value estimates be averaged to determine your
Appraised Value Offer.

      


      Because
home selection is a highly personal and subjective process, an appraiser's
estimate may be higher or lower than the eventual sales
price.  Nevertheless, the market value represents the most accurate
means available for projecting what your home will bring on the open
market.


      
        
           


        

        
          27

          
            

          

        

        
           


        

      


      


      
        
          	
                  Comparable
      Listings

                


        

      

      


      The
appraiser also reports on current listings in a comparable price range being
offered in the marketplace.  These homes are indications of what the
market will bear in your neighborhood.  Competitive listings have a
bearing on the marketability of your home as well as what competition exists and
must be considered when computing an opinion of value.

      


      Competitive
listings should be a significant factor when you are establishing a realistic
list price for your home.  This is especially true in an “over
supplied” market.

      


      In short,
the appraisal will reflect the "as is,” "as vacant" condition of your home on
the day of the appraisal.  Therefore, any deferred maintenance should
be completed prior to
appraiser's visit.  Have your home in prime "show
condition."

      


      Points
to remember about an appraisal and the marketplace:

      


      
        	
                ●

              	
                Money
      spent on repairs and maintenance is not normally recovered when a home is
      sold.  Deferred maintenance, however, can actually reduce
      property value by the cost of needed repairs.

              
	 
      	 
      
	
                ●

              	
                If
      construction costs have risen, such an increase in value may be offset by
      other factors such as aging, wear or deferred
  maintenance.

              
	 
      	 
      
	
                ●

              	
                There
      is NO guarantee that a homeowner will make a profit when they sell their
      home; the MARKETPLACE is what determines whether a profit will be
      realized.

              
	 
      	 
      
	
                ●

              	
                With
      UNLIMITED TIME, a seller may be able to find a buyer willing to pay more
      than the appraised value.  A relocation appraisal ESTIMATES the
      price which is most likely to be agreed upon by a typical buyer and seller
      within a reasonable period of time (90 to 120 days).

              
	 
      	 
      
	
                ●

              	
                The
      improvements you make to your home may NOT be considered as desirable by
      subsequent owners as they were by you.  Improvements may not
      increase the value of your property by as much as they
    cost.

              
	 
      	 
      
	
                ●

              	
                Improvements
      or additions to a home do not necessarily increase value as much as their
      costs because an improvement that appeals to one owner may not appeal to
      all.

              
	 
      	 
      
	
                ●

              	
                When
      people have styled a home in a very personal way, they tend to place a
      high value on it.  It can be difficult to understand that this
      personal touch does not necessarily translate into dollar value in the
      marketplace.

              


      

      



      
        
           


        

        
          28

          
            

          

        

        
           


        

      


      
        APPRAISAL
INPUT

      

      


      You may
participate in the appraisal process.  Please complete the Appraisal
Worksheet form using homes similar to your own that have
recently sold and closed.  You may
find the assistance of your REALTOR helpful in obtaining such
information.  Please give this information directly to each appraiser
(with a copy to your Consultant) when he/she visits your home. 

      


      How
the Offer is Calculated

      


      Upon
receipt of the written appraisals, they will be reviewed for any
discrepancies.  Following this review, the Appraised Value Offer will
be established by averaging the two appraisals.  If the difference
between the two appraisals exceeds 5 percent, a third appraisal will be
requested.  The Appraised Value Offer will equal the average of the
two closest appraisals.

      


      


      
        BROKERS'
PRICE OPINION

      

      


      Although
not part of the formal appraisal process, two Brokers' Market
Analysis  will be ordered.  The information in these
opinions will provide additional information to you and to the home purchase
firm.  Included will be marketing strategies and recommendations on
how to make your property more competitive.

      


      The
Brokers asked to provide this information may also be responsible for ordering
any professional inspections regarding the physical condition of your home
(pool, roof, septic, etc.).

      


      The
Brokers' Price Analysis are not used to compute the Appraised Value
Offer.

      


      



      
        
           


        

        
          29

          
            

          

        

        
           


        

      


      
        AMENDED
VALUE PROGRAM

      

      


      Any offer you receive must be
reviewed with your Consultant.  Should you wish to assign it, DO NOT sign any
documents.  Call your Consultant with details of the
offer.  This review will ensure that the terms you agreed to are
indeed covered by the PG&E policy.  Your Consultant will sign the offer
as your nominee in order to protect favorable tax treatment of the program.
CONTINGENT OFFERS DO NOT
QUALIFY FOR THE PROGRAM.

      


      As part
of the assistance, PG&E pays your brokers' commission and customary seller's
closing costs (Customary for the county will be as defined by local Title
Company.  Concessions are not considered customary.)  The
customary costs of sale will not appear on the closing statement.  If
you assign the closing of the sale of your home to the home purchase firm, you
should not submit a closing statement to PG&E for
reimbursement.

      


      When you
assign an offer, you are financially responsible for your home until you
vacate.

      


      Should
you assign an offer and permit the buyer to assume your loan, you must indemnify
(in writing) both PG&E and the home purchase firm against any future
default.

      


      Amended
Value Offer

      


      
        	
                ●

              	
                Your
      presence at the closing is not required since the home purchase firm will
      close the sale on your behalf.  You and your family are free to
      move to your new location.  You need only to sign the sellers'
      closing instructions, the deed and other related
  documents.

              
	 
      	 
      
	
                ●

              	
                When
      you assign an offer, you will not incur normal selling expenses and will
      not, therefore, require reimbursement from
  PG&E.

              


      

      


      You may
assign more than one offer, that is, a backup offer to the home purchase
firm.  Make certain that you contact your Consultant for details
beforehand.

      


      


      


      


      


      


      


      


      


      


      


      



      
        
           


        

        
          30

          
            

          

        

        
           


        

      


      


      
        APPRAISED
VALUE OFFER

      

      


      Accepting
the Appraised Value Offer

      


      Approximately
15 business days after the appraisals have been completed and thoroughly
reviewed, your Consultant will call you with the Offer to purchase your
home.  An Offer to Purchase Package containing all the forms required
for you to sell your home to the home purchase firm will follow.

      


      Building
permits must be on file to meet all current local building code
requirements.

      


      60 Day Marketing
Period

      


      Beginning
with the day you are called with your Offer, you have 60 days to:

      


      
        	
                1.

              	
                Find
      a buyer willing to purchase your home at a comparable or higher price than
      Appraised Value Offer, and turn the sale over to the home purchase firm
      for closing (Assigned Sale); or

              
	 
      	 
      
	
                2.

              	
                Accept
      the Appraised Value Offer.

              


      

      


      
        
          	
                  The
      60-Day Market Period will not be extended for any
  reason.

                


        

      

      


      You may
accept the Appraised Value Offer anytime during the 60-day period by completing
the appropriate documents.  Your home must have been on the market for
AT LEAST 45 days prior to accepting the Appraised Value Offer.

      


      
        
          	
                  60 Day Vacate
      Period

                


        

      

      


      Upon your
acceptance of the Appraised Value Offer, you will have up to 60 days to vacate
your home.  You will be asked to indicate on the Seller's Data Sheet
the date you plan to vacate.

      


      Once you
accept the Appraised Value Offer, your home will be listed for sale by the home
purchase firm.  You are expected to cooperate with the home purchase
firm by allowing prospective buyers to view your home by appointment at
reasonable hours.

      


      Your are
responsible for all expenses of your home until the vacate date.

      


      All
appliances, heating, plumbing, and other fixtures to be sold with the home
should be clean, in working order, and remain on the premises.  If
removed, the full replacement value for each will be withheld from your final
equity.

      


      



      
        
           


        

        
          31

          
            

          

        

        
           


        

      


      
        PAYMENT
OF EQUITY

        


      

      


      In order
to meet your new home purchase obligations, you may find that you need funds
(equity) prior to the normal equity payment date (close of
escrow).  If so, payments of two types are available.

      


      One:  From the time
your are informed of the Offer to the time you accept the offer or assign an
offer, you may request an equity payment.  This payment is available
to you without any obligation to accept the home purchase firm's offer or assign
an offer but must be repaid to the home purchase firm prior to the expiration of
the offer period if you elect not to
participate.  To obtain this payment, contact your consultant and
complete the Equity Advance agreement/Promissory Note.

      


      Two:  After
assigning an offer or accepting the Appraised Value Offer, you may request an
equity payment to be sent directly to your escrow account.  This
payment is limited to the lesser of (1) the amount
required to purchase the new residence or (2) 98 percent of your equity based on
the Appraised Value Offer computed to the Date of Possession.  If you
have an assigned offer, the equity is based on the Appraised Value Offer and not
the assigned offer.  This procedure is used to protect you against an
over advancement of funds.

      


      Your
final equity is computed by deducting the following items from the sale
price:

      


      
        	
                ●

              	
                Unpaid
      balance of principal and prorated interest on any mortgage(s) or equity
      line(s) of credit

              
	 
      	 
      
	
                ●

              	
                Proration
      of real estate taxes

              
	 
      	 
      
	
                ●

              	
                Unpaid
      special assessments, homeowner association dues

              
	 
      	 
      
	
                ●

              	
                Monetary
      liens, judgments

              
	 
      	 
      
	
                ●

              	
                Twice
      the estimated cost of work/repairs (except for termite repairs) if the
      work is not completed prior to your being cashed
  out.

              


      

      


      Excess
funds are withheld to eliminate any underpayment on your
behalf.  Excess deductions are returned to you at the time of final
closing, after the work/repairs have been completed and satisfactory inspection
reports have been obtained.

      


      
        
          	
                  Please
      note: Equity advances are
      made only to escrow
accounts.

                


        

      

      


      


      


      


      



      
        
           


        

        
          32

          
            

          

        

        
           


        

      


      All
required repairs must be completed.  Any costs PG&E incurs to
return your home to clean, marketable condition will be subtracted from your
final equity payment.  To prevent this, please discuss with the
Realtor during the walk through those items that require repair and complete
those repairs yourself.  Final equity may be withheld pending firm
bids for any needed repairs.

      


      If you
accept the Offer, the home purchase firm will take over responsibility for the
home on the Date of Possession.  Gas, electric, and water service
should be left on.  You should request a final reading and ask that a
final billing be sent to you.  The home purchase firm will arrange for
a local REALTOR to have these utilities billed to them when you
vacate.

      


      The home
purchase firm will provide insurance coverage for the home effective on the
contract or vacate date, whichever is later.  You are responsible for
maintaining coverage until then and for obtaining any refund due you from the
insurance company.  If you have flood insurance, discuss the transfer
process with your Consultant.

      


      


      
        FINAL
EQUITY PAYMENT

      

      


      Your
final equity will be sent to you as soon as the home purchase firm receives all
of the required documents including your executed deed
package.  Equity is calculated by prorating the carrying expenses
listed below and subtracting them from the Appraised Value Offer.

      


      
        
          	
                  Carrying
      Expenses:

                


        

      

      


      
        	
                1.  

              	
                Outstanding
      encumbrances and/or indebtedness against the property and prorated
      interest;

              


      

       

      
        	
                2.  

              	
                Prorated
      property taxes;

              


      

       

      
        	
                3.  

              	
                If
      the required work is not completed and re-inspected prior to your vacate
      date, twice the amount of the estimate (except for termite repairs) with
      be  withheld to prevent any underpayment.  Any excess
      funds will be refunded upon completion of the work;
  and

              


      

       

      
        	
                4.  

              	
                Bonds
      and assessments where included in the appraised value but
      unpaid.

              


      

      



      
        
           


        

        
          33

          
            

          

        

        
           


        

      


      


      
        THINGS
YOU NEED TO DO

      

      


      
        
          	
                  Call
      your consultant whenever you have a
question.

                


        

      

      


      Do not
list your home with a local REALTOR until the Prelisting Analysis has been
completed and approved.  Be sure to include the "Exclusion
Clause."

      


      
        
          	
                  Return
      the following to the home purchase firm from the introductory
      package.

                


        

      

      


      
        	
                --

              	
                Power
      of Attorney

              
	
                --

              	
                California
      Real Estate Disclosure Statement

              
	 
      	
                All
      parties whose names appear on the Deed must sign this
      form.  The

                Appraised
      Value Offer cannot be released until these documents are received by the
      home purchase firm.

              


      

      


      Return
the Statement of Loan Account to your lender(s) as soon as
possible.  Receipt of this information will expedite the calculation
of your equity for any equity advance you may request.

      


      It is
helpful to telephone the lender and verify the address to which the request
should be sent.  Sending this request to the attention of the person
you speak with may help speed processing.  Having a contact name will
assist you should you need to follow up.

      


      
        
          	
                  Scheduling
      Appraisers/Inspectors Visits

                


        

      

      


      The
appraisers you select will contact you to schedule an appointment to visit your
home.  This contact should be made within 48 hours of your making your
selection known to the home purchase firm.  Contact your Consultant
immediately if this does not occur.  If both visits are scheduled for
the same day, allow at least 2 hours between appointments.  Have your
Appraisal Input form completed and provide a copy to each
appraiser.

      


      
        
          	
                  Payment
      of Equity

                


        

      

      


      Five
working days must be allowed to process your request.  Advances can
only be made to escrow accounts.  A maximum of 98 percent of your
equity (based on the Appraised Value Offer) can be advanced.

      


      
        
          	
                  Final
      Walk through

                


        

      

      


      Contact
the local REALTOR assigned by the home purchase firm to arrange for the final
walk through (on the day you vacate).  Keys may be given to the
REALTOR at this time.  This process is required for Appraised Value
Sales only.

      


      
        
          	
                  Final
      Utility Bills

                


        

      

      


      Discuss
the transfer of utilities with your consultant.  DO NOT DISCONNECT
SERVICE.

      



      
        
           


        

        
          34

          
            

          

        

        
           


        

      


      


      
        
          	
                  Insurance

                


        

      

      


      Cancel
your homeowner's policy and ask your insurance agent to forward any refund
directly to you.  If you have flood insurance, discuss the transfer
process with your Consultant.

      


      
        
          	
                  New
      Mailing Address

                


        

      

      


      
        
          	
                  Provide
      your new mailing address AND telephone numbers to your
      Consultant.

                


        

      

      


      


      
        VACATING
YOUR HOME

      

      


      Before
vacating your home, contact your Consultant.  A local REALTOR assigned
by the home purchase firm will conduct a final walk through prior to the release
of final equity.  The walk through should be done on the date you
vacate your home.

      


      When you
vacate, your home should be left in broom-clean condition and in
the same condition, ordinary wear and tear excepted, as on the day your home was
appraised.  Under PG&E's policy, the costs to put your home in
broom-clean condition (clean oven, clean basins, floors, etc.) will be withheld
from your final equity.

      


      


      *****Next
two pages contain Realtors walkthrough checklist

      


      


      


      


      



      
        
           


        

        
          35

          
            

          

        

        
           


        

      


      


      


      PG&E

      Realtor’s
Final Walk Through Checklist

      Instructions
to Realtor

      


      This form
is to be completed by the Realtor on the final walk through.  Both the
Realtor and PG&E employee must sign off on page 2 of this
report.  Please make a ( Ö )
next to the items that are inspected and in good condition.  Use the
comments section to note any items which need repair, replacement or are not in
“broom-clean” condition.  Also note in the comments section any
furniture/appliances which obstruct your inspection of an area.

      


      PROPERTY ADDRESSPG&E
EMPLOYEE

      


      
        	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      


      

      


      
        	 
      	
                (
      Ö
      )

              	 
      	
                LIVING
      ROOM

              	
                COMMENTS

              	 
      
	 
      	 
      	 
      	
                WALLS

              	 
      	 
      
	 
      	 
      	 
      	
                DOORS

              	 
      	 
      
	 
      	 
      	 
      	
                FLOOR/CARPET

              	 
      	 
      
	 
      	 
      	 
      	
                WINDOWS/SCREENS

              	 
      	 
      
	 
      	 
      	 
      	
                COVERINGS

              	 
      	 
      
	 
      	 
      	 
      	
                LIGHT
      FIXTURES

              	 
      	 
      
	 
      	 
      	 
      	
                FIREPLACE/WOOD
      STOVE

              	 
      	 
      
	 
      	 
      	 
      	
                OTHER

              	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      


      

      


      
        	 
      	
                (
      Ö
      )

              	 
      	
                DINING
      ROOM

              	
                COMMENTS

              	 
      
	 
      	 
      	 
      	
                WALLS

              	 
      	 
      
	 
      	 
      	 
      	
                DOORS

              	 
      	 
      
	 
      	 
      	 
      	
                FLOOR/CARPET

              	 
      	 
      
	 
      	 
      	 
      	
                WINDOWS/SCREENS

              	 
      	 
      
	 
      	 
      	 
      	
                COVERINGS

              	 
      	 
      
	 
      	 
      	 
      	
                LIGHT
      FIXTURES

              	 
      	 
      
	 
      	 
      	 
      	
                OTHER

              	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      


      

      


      
        	 
      	
                (
      Ö
      )

              	 
      	
                KITCHEN

              	
                COMMENTS

              	 
      
	 
      	 
      	 
      	
                WALLS

              	 
      	 
      
	 
      	 
      	 
      	
                DOORS

              	 
      	 
      
	 
      	 
      	 
      	
                FLOOR

              	 
      	 
      
	 
      	 
      	 
      	
                WINDOWS/SCREENS

              	 
      	 
      
	 
      	 
      	 
      	
                COVERINGS

              	 
      	 
      
	 
      	 
      	 
      	
                LIGHT
      FIXTURES

              	 
      	 
      
	 
      	 
      	 
      	
                STOVE
      TOP

              	 
      	 
      
	 
      	 
      	 
      	
                OVEN(S)

              	 
      	 
      
	 
      	 
      	 
      	
                HOOD/FAN

              	 
      	 
      
	 
      	 
      	 
      	
                DISHWASHER

              	 
      	 
      
	 
      	 
      	 
      	
                TRASH
      COMPACTOR

              	 
      	 
      
	 
      	 
      	 
      	
                COUNTERS

              	 
      	 
      
	 
      	 
      	 
      	
                GARBAGE
      DISPOSAL

              	 
      	 
      
	 
      	 
      	 
      	
                REFRIGERATOR

              	 
      	 
      
	 
      	 
      	 
      	
                OTHER

              	 
      	 
      


      


      
        
           


        

        
          36

          
            

          

        

        
           


        

      


      


      
        	 
      	
                (
      Ö
      )

              	 
      	
                BEDROOM
      1

              	
                COMMENTS

              	 
      
	 
      	 
      	 
      	
                WALLS

              	 
      	 
      
	 
      	 
      	 
      	
                DOORS

              	 
      	 
      
	 
      	 
      	 
      	
                FLOOR/CARPET

              	 
      	 
      
	 
      	 
      	 
      	
                WINDOWS/SCREENS

              	 
      	 
      
	 
      	 
      	 
      	
                COVERINGS

              	 
      	 
      
	 
      	 
      	 
      	
                LIGHT
      FIXTURES

              	 
      	 
      
	 
      	 
      	 
      	
                OTHER

              	 
      	 
      


      

      


      
        	 
      	
                (
      Ö
      )

              	 
      	
                BEDROOM
      2

              	
                COMMENTS

              	 
      
	 
      	 
      	 
      	
                WALLS

              	 
      	 
      
	 
      	 
      	 
      	
                DOORS

              	 
      	 
      
	 
      	 
      	 
      	
                FLOOR/CARPET

              	 
      	 
      
	 
      	 
      	 
      	
                WINDOWS/SCREENS

              	 
      	 
      
	 
      	 
      	 
      	
                COVERINGS

              	 
      	 
      
	 
      	 
      	 
      	
                LIGHT
      FIXTURES

              	 
      	 
      
	 
      	 
      	 
      	
                OTHER

              	 
      	 
      


      

      


      
        	 
      	
                (
      Ö
      )

              	 
      	
                BEDROOM
      3

              	
                COMMENTS

              	 
      
	 
      	 
      	 
      	
                WALLS

              	 
      	 
      
	 
      	 
      	 
      	
                DOORS

              	 
      	 
      
	 
      	 
      	 
      	
                FLOOR/CARPET

              	 
      	 
      
	 
      	 
      	 
      	
                WINDOWS/SCREENS

              	 
      	 
      
	 
      	 
      	 
      	
                COVERINGS

              	 
      	 
      
	 
      	 
      	 
      	
                LIGHT
      FIXTURES

              	 
      	 
      
	 
      	 
      	 
      	
                OTHER

              	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      


      

      


      
        	 
      	
                (
      Ö
      )

              	 
      	
                BATHROOM1

              	
                COMMENTS

              	
                  BATHROOM
      2

              	
                COMMENTS

              	 
      
	 
      	 
      	 
      	
                WALLS

              	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                DOORS

              	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                FLOOR/CARPET

              	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                WINDOWS/SCREENS

              	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                COVERINGS

              	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                LIGHT
      FIXTURES

              	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                VENTILATING
      FAN

              	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                BASIN

              	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                TOILET

              	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                BATHTUB

              	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                SHOWER
      STALL

              	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                SHOWER
      DOOR

              	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                OTHER

              	 
      	 
      	 
      	 
      


      

      


      
        	 
      	
                (
      Ö
      )

              	 
      	
                OTHER

              	
                COMMENTS

              	 
      
	 
      	 
      	 
      	
                WALLS

              	 
      	 
      
	 
      	 
      	 
      	
                DOORS

              	 
      	 
      
	 
      	 
      	 
      	
                FLOOR/CARPET

              	 
      	 
      
	 
      	 
      	 
      	
                WINDOWS/SCREENS

              	 
      	 
      
	 
      	 
      	 
      	
                COVERINGS

              	 
      	 
      
	 
      	 
      	 
      	
                LIGHT
      FIXTURES

              	 
      	 
      
	 
      	 
      	 
      	
                OTHER

              	 
      	 
      


      

      
        


        


        
          
            
AGENT                                                                                                     
DATE                                                                                    
EMPLOYEE                                                                  
DATE

        

      


      
        
           


        

        
          37

          
            

          

        

        
           


        

      


      


      
        HOME
SALE DIRECT REIMBURSEMENT

      

      


      While
PG&E has retained the home purchase firm for your benefit and convenience,
you do not have to accept the Appraised Value Offer nor are you obligated to
assign an offer to the home purchase firm for closing.  If you decide
to close a sale on your own, you may be reimbursed by PG&E under the Home
Sale-Direct Reimbursement policy.  Some tax assistance is
provided.  See Tax Summary.  A list of the most typical
seller closing costs can be found on page
41.

      


      Employees
who select this option are encouraged to review the potential tax consequences
with Relocation Services.

      


      


      
        REIMBURSEMENT
FOR CLOSING COSTS (NEW HOME)

      

      


      PG&E
will reimburse you for the customary (as defined by local
title company) closing costs paid by the buyer in your new area with the
following limitations:  the LESSER of actual costs covered by policy
or two and one-half (2.5) percent of the purchase price of your new home. Tax
Assistance is provided. Points are excluded from tax protection. See Tax
Summary.  Some items have a dollar limit.  See the worksheet
in your packet for this information.  Concessions in a buyer's market
are not considered customary.  One hundred percent equity reinvestment
is assumed.  Ownership with other than a Spouse/Domestic Partner may
not qualify for this assistance.  Consult with Relocation
Services.

      


      Note:  Credits
from the seller will be deducted from the reimbursement.

      


      In
addition to this limit a home inspection is required and is not subject to 2.5%
limit.

      


      You must
be a homeowner at the time of hire to be eligible for this
assistance.  A list of customary reimbursable items appears on page
43.  You have one year from the effective date of hire to request
reimbursement.

      


      Remember
to plan to have the necessary cash available to cover closing costs as they are
reimbursed after the close of escrow.

      


      Interim
financing for the construction of a new home is excluded from the
program.  Only the final loan is eligible for
consideration.  If you plan to construct a new home, you are
encouraged to review the reimbursement procedure with Relocation
Services.  Employees who have a home constructed are limited to the
same overall 2.5 percent maximum reimbursement.  If you choose
non-conventional financing consult with Relocation Services to determine your
eligibility.

      


      


      


      
        
          
          

        

        
          38

          
            

          

        

        
          
          

        

      

      


      It is
important to note that points are subject to withholding taxes and are not tax
protected.  However, they may be deductible for tax purposes as an
itemized deduction.  See Tax Summary.

      


      


      
        TAXES

      

      


      The sale
of your former home and the purchase of your new home may have varying income
tax consequences.

      


      Most of
the assistance outlined in this handbook may be considered taxable and must be
reported to the Internal Revenue Service.  Therefore, you will be
taxed on it in the year in which it is paid by the
company.

      


      The
Internal Revenue Service requires that taxes be withheld at the time of
reimbursement.  You are encouraged to review the TAX SUMMARY sheet to
understand how the process is implemented.

      


      We
recommend that you keep receipts for ALL of your relocation expenses, even when
not required by the company for reimbursement.  These may be required
as documentation by local, state, or federal tax authorities.  We also
recommend that you seek the advice of a competent tax professional to assist you
in filing your taxes in the year that you incur relocation
expenses.  Your moving allowance may be used to offset the cost of
this service.  A chart summarizing how the company tax treats
relocation expenses is provided in your packet.

      


      In
January of each year, Relocation Services will provide you with a Relocation
Expense Summary.  This information will assist you in the preparation
of your annual tax return.

      


      


      
        TIME
OFF

      

      


      The
decision to grant time off from work for relocation related activities is a line
decision and employees are encouraged to discuss this with their
supervisor.  The decision to grant time off with pay and the charge of
time off with pay is up to the individual department.

      


      


      
        USE
OF COMPANY CAR

      

      


      The IRS
requires that use of a Company car for relocation related expenses be reported
as imputed income.  Consult with Relocation Services for
details.


      
        
           


        

        
          39

          
            

          

        

        
           


        

      


      
        APPENDIX

      

      


      
        HELPFUL
HINTS WHEN BUYING OR SELLING A HOME

      

      


      BUYING
A HOME

      


      Make
several thorough tours of the home. Try to visualize traffic
flow.  Check to make sure there is adequate storage and closet
space.  Check the position of the house on the lot to see how much
sunlight you can expect to receive.  Look at the size of the rooms in
relation to your furniture.

      


      Investigate
the neighborhood.  If it is a new area, check to see if you will be
assessed for new road, sidewalks, or schools.  If it is an old area,
check to see how well maintained the surrounding homes appear.

      


      Beware of
poor construction.  Some indications of this are cheap fixtures,
uneven floors, and doors that don't fit properly.

      


      Carefully
check the heating and cooling system.  Make sure it can meet the
demands of the climate.

      


      Consider
the distance from your job, from schools, and from shopping areas.

      


      Do not be
sold by "gimmick" items such as skylights or beamed ceilings, especially if the
overall construction is not good.

      


      Do not
buy a home you are not sure you can afford.  Remember that you must
take into account property taxes, utilities, maintenance, and many miscellaneous
expenses which may exceed your budget.

      


      SELLING
A HOME

      


      Clean
your house as thoroughly as possible.  Make sure that all appliances,
rugs, tile, and bathroom fixtures are clean.  Get rid of
clutter.

      


      See that
the price is right.  An asking price higher than the market value can
substantially reduce the number of potential buyers who will come to look at
your home.

      


      Trim the
lawn and see that the grounds are neat.

      


      Turn off
the radio, stereo, or television when your house is being shown.  They
are distracting.  Keep pets out of the way.


      
        
           


        

        
          40

          
            

          

        

        
           


        

      


      


      If you
home is shown at night, turn on several lights throughout to create a feeling of
warmth.  If shown during the day, open curtains to make the house
light and cheerful.

      


      Do not
apologize for the appearance of your home.  After all, you're living
in it!

      


      Do not
discuss furniture or interior decoration.  This may confuse the buyer
whose tastes are probably different from yours anyway.

      


      Do not
get involved in the conversation during the showing.  Leave it to your
Realtor to answer questions whenever possible.


      
        
           


        

        
          41

          
            

          

        

        
           


        

      


      


      
        CLOSING
COSTS ASSOCIATED WITH THE SALE OF A HOME

      

      


      
        	
                 
      

              	
                1.REIMBURSABLE
      ITEMS*

              


      

      


      
        	
                 
      

              	
                Attorney
      fees (in lieu of a title company)

              


      

      
        	
                 
      

              	
                Brokerage
      fee/commission (normal for the area if a broker is
  used)**

              


      

      
        	
                 
      

              	
                City
      report

              


      

      
        	
                 
      

              	
                Escrow
      fees

              


      

      
        	
                 
      

              	
                Home
      warranty

              


      

      
        	
                 
      

              	
                Notary
      fees

              


      

      
        	
                 
      

              	
                Prepayment
      penalty on first mortgage***

              


      

      
        	
                 
      

              	
                Reconveyance
      fees

              


      

      
        	
                 
      

              	
                Recording
      fees

              


      

      
        	
                 
      

              	
                Statement
      fees

              


      

      
        	
                 
      

              	
                Tax
      stamps

              


      

      
        	
                 
      

              	
                Title
      insurance

              


      

      
        	
                 
      

              	
                Transfer
      tax (city and/or county)

              


      

      


      
        	
                 
      

              	
                2.NON-REIMBURSABLE
      ITEMS

              


      

      


      
        	
                 
      

              	
                Any
      items not specifically covered by policy or negotiated between buyer and
      seller

              


      

      
        	
                 
      

              	
                Appraisal
      fee

              


      

      
        	
                 
      

              	
                Assumption
      fee

              


      

      
        	
                 
      

              	
                Bonds

              


      

      
        	
                 
      

              	
                Buy
      downs

              


      

      
        	
                 
      

              	
                Credit
      reports

              


      

      
        	
                 
      

              	
                Delinquent
      taxes

              


      

      
        	
                 
      

              	
                Document
      preparation fee

              


      

      
        	
                 
      

              	
                Endorsements

              


      

      
        	
                 
      

              	
                Fix-up
      expenses and maintenance costs

              


      

      
        	
                 
      

              	
                Homeowner
      Association dues or transfer fees

              


      

      
        	
                 
      

              	
                Impound
      accounts

              


      

      
        	
                 
      

              	
                Insurance

              


      

      
        	
                 
      

              	
                Interest

              


      

      
        	
                 
      

              	
                Late
      charges

              


      

      
        	
                 
      

              	
                Mortgage
      insurance

              


      

      
        	
                 
      

              	
                Photos

              


      

      
        	
                 
      

              	
                Points
      of all kinds

              


      

      
        	
                 
      

              	
                Prepayment
      penalty on second mortgage

              


      

      
        	
                 
      

              	
                Principal

              


      

      
        	
                 
      

              	
                Reinspections

              


      

      
        	
                 
      

              	
                Repairs

              


      


      
        
           


        

        
          42

          
            

          

        

        
           


        

      


      
        	
                 
      

              	
                2.NON-REIMBURSABLE
      ITEMS - continued

              


      

      


      
        	
                 
      

              	
                Taxes

              


      

      
        	
                 
      

              	
                Termite
      inspection

              


      

      
        	
                 
      

              	
                Termite/pest
      control work

              


      

      
        	
                 
      

              	
                VA/FHA
      points

              


      

      


      
        	
                 
      

              	
                *Consult
      with Relocation Services for customary items in the county of the
      sale.

              


      

      


      
        	
                 
      

              	
                **If
      an employee, Spouse/Domestic Partner or family member is a REALTOR, it is
      a conflict of interest for the company to reimburse members of a
      relocating family for services (commission) connected with the sale of the
      old home or purchase of a new home.

              


      

      


      
        	
                 
      

              	
                ***Limited
      to the lesser of six months interest or
$3,000.

              


      

      


      


      


      


      


      



      
        
           


        

        
          43

          
            

          

        

        
           


        

      


      
        CLOSING
COSTS ASSOCIATED WITH THE

        PURCHASE
OF A HOME

      

      


      
        	
                 
      

              	
                1.REIMBURSABLE
      ITEMS*

              


      

      


      
        	
                 
      

              	
                Appraisal
      fees

              


      

      
        	
                 
      

              	
                Assumption
      fee

              


      

      
        	
                 
      

              	
                Attorney
      fees (in lieu of escrow fees, if typical for the
  area)

              


      

      
        	
                 
      

              	
                City
      report

              


      

      
        	
                 
      

              	
                Credit
      report (Limited)

              


      

      
        	
                 
      

              	
                Documentation
      preparation fees (Limited)

              


      

      
        	
                 
      

              	
                Endorsements

              


      

      
        	
                 
      

              	
                Escrow
      fees

              


      

      
        	
                 
      

              	
                Flood
      Certificate (Limited)

              


      

      
        	
                 
      

              	
                Forwarding
      fees

              


      

      
        	
                 
      

              	
                General
      Home Inspection

              


      

      
        	
                 
      

              	
                Home
      warranty

              


      

      
        	
                 
      

              	
                Loan
      tie-in fees**

              


      

      
        	
                 
      

              	
                Notary
      fees

              


      

      
        	
                 
      

              	
                Points:  Limited
      to two.  Based on (95% equity
  reinvestment)

              


      

      
        	
                 
      

              	
                Pool/Spa
      inspection

              


      

      
        	
                 
      

              	
                Recording
      fees

              


      

      
        	
                 
      

              	
                Roof
      inspection

              


      

      
        	
                 
      

              	
                Septic
      report (only if required by lender)

              


      

      
        	
                 
      

              	
                Statement
      fees

              


      

      
        	
                 
      

              	
                Tax
      service (Limited)

              


      

      
        	
                 
      

              	
                Tax
      stamps

              


      

      
        	
                 
      

              	
                Termite
      inspection

              


      

      
        	
                 
      

              	
                Title
      insurance

              


      

      
        	
                 
      

              	
                Transfer
      tax (city and/or county)

              


      

      


      
        	
                 
      

              	
                2.NON-REIMBURSABLE
      ITEMS

              


      

      


      
        	
                 
      

              	
                Any
      items not specifically covered by policy or negotiated between buyer and
      seller

              


      

      
        	
                 
      

              	
                Application
      fee

              


      

      Bonds

      
        	
                 
      

              	
                Buy
      downs

              


      

      
        	
                 
      

              	
                Construction
      Loans*

              


      

      
        	
                 
      

              	
                Fix-up
      expenses, repairs, maintenance
costs

              


      

      
        	
                 
      

              	
                Homeowner
      Association dues/Association Transfer
fees

              


      

      
        	
                 
      

              	
                Impound
      accounts

              


      

      
        	
                 
      

              	
                Insurance

              


      

      
        	
                 
      

              	
                Interest

              


      

      
        	
                 
      

              	
                Late
      charges

              


      

      


      


      



      
        
           


        

        
          44

          
            

          

        

        
           


        

      


      


      
        	
                 
      

              	
                2.NON-REIMBURSABLE
      ITEMS - continued

              


      

      


      
        	
                 
      

              	
                Mortgage
      insurance

              


      

      
        	
                 
      

              	
                Photos

              


      

      
        	
                 
      

              	
                Principal

              


      

      
        	
                 
      

              	
                Processing
      Fee

              


      

      
        	
                 
      

              	
                Repairs

              


      

      
        	
                 
      

              	
                Soil
      report

              


      

      
        	
                 
      

              	
                Taxes

              


      

      
        	
                 
      

              	
                Underwriting
      fees

              


      

      


      
        	
                 
      

              	
                *Consult
      with Relocation Services for customary items in the county of the
      purchase.

              


      

      


      
        	
                 
      

              	
                **Consult
      Relocation Services for current
guidelines.

              


      

      


      Please
NOTE all information is subject to change.  If there are
any

      questions,
please call Relocation Services at (415) 817-8294.


      
        
           


        

        
          45

          
            

          

        

        
           


        

      


      
        APPOINTMENT
LOG

      

      


      The log
is designed to assist you schedule and monitor the individuals required to visit
your home.

      


      Please
notify your Consultant IMMEDIATELY if an individual fails to keep an
appointment.

      


      
        	 
      	
                NAME

              	
                DATE

              	
                TIME

                 

              
	
                 

                Appraiser

              	
                 

                1.____________________

                 

                2.____________________

                 

                3.____________________

              	
                 

                __________

                 

                __________

                 

                __________

              	
                 

                _______

                 

                _______

                 

                _______

                 

                 

              
	
                 

                Broker

              	
                 

                1.____________________

                 

                2.____________________

                 

                 

              	
                 

                __________

                 

                __________

                 

                 

              	
                 

                _______

                 

                _______

                 

                 

              
	
                 

                Termite
      Inspector

                 

              	 
      	 
      	 
      
	
                 

                Pool/Spa
      Inspector

                 

              	 
      	 
      	 
      
	
                 

                Septic
      Inspector

                 

              	 
      	 
      	 
      
	
                 

                *Roof
      Inspector

                 

              	 
      	 
      	 
      
	
                 

                **Assigned
      REALTOR

                 

              	 
      	 
      	 
      


      

      
        	
                 
      

              	
                  *May
      be required due to age or condition

              


      

      
        	
                 
      

              	
                **Final
      walk through required for Appraised Value Sale
  only

              


      

      



      
        
           


        

        
          46

          
            

          

        

        
           


        

      


      
        QUESTIONS/ANSWERS

      

      
        	
                 

                Appraised Value Offer

                 

                Q:  What type of input do I have
      in determining the Appraised Value Offer of my home?

                 

                A:
      You may participate in the appraisal process.  To do this,
      complete the Appraisal Worksheet form and provide a copy to each appraiser
      at the time of the appraisal and a copy to the home purchase
      firm.

                 

                Q:
      If I accept the
      Appraised Value Offer, when am I no longer responsible for the mortgage
      payments, etc., on my home?

                 

                A: The Date of
      Possession of your home will be either (1) the date you vacate your home,
      or (2) the date your Contract is received by the home purchase firm, whichever is
      later.  As of the Date of Possession, you are no longer
      financially responsible for your home, provided no repairs/inspections,
      etc., remain uncompleted.

              	
                 

                Inspections

                 

                Q:  What inspections are
      necessary?

                 

                A:  A
      termite/wood-destroying pest and organism inspection is
      required.  Where applicable, a well and/or septic inspection;
      swimming pool and/or spa/hot tub, radon gas inspection.  If any
      report is unclear or incomplete, the home purchase firm will order a
      second inspection.  Other inspections may be required depending
      on property conditions.  All inspections will be paid for by
      PG&E.

                 

                Q:  What is a "home
      inspection"?

                 

                A:  Home
      inspections are required.  This is a general inspection of the
      structure of the house, plumbing, heating, electrical, air conditioning,
      solar, all appliances, and roof to determine if everything is in good
      working order and meets code requirements.  The inspection is
      done by a home inspector, if available, otherwise a general contractor is
      used.  These are ordered by the home purchase firm and paid for
      by PG&E.

              
	 
      	 
      


      


      
        
           


        

        
          47

          
            

          

        

        
           


        

      


      


      
        	
                Q:  What happens if an inspection,
      etc., indicates that repairs are required?

                 

                A:  You
      must have the work completed, have a reinspection done, and submit the
      clear report to the home purchase firm prior to receiving your final
      equity.

                 

                Q:  If an inspection, etc.,
      indicates repairs are required and (1) I want to move to my new home prior
      to the completion of the necessary repairs on my existing home, or (2) I
      just don't want the bother of obtaining bids and ensuring the work is
      complete, etc., what are my options?

                 

                A:  The
      home purchase firm will obtain an estimate for the required work and
      withhold two times this amount (termite work excepted) from your
      equity.  By withholding additional dollars, it will not be
      necessary to request additional funds from you should the estimate be
      low.  Once the work is completed, the home purchase firm will
      refund any excess dollars to you immediately.

                 

                Q:  At the same time I selected
      appraisers, the home purchase firm informed me that one or two Brokers'
      Market Analysis  would also be ordered. What does this mean?
      Will the Brokers' Market Analysis affect the appraiser's
      value?

              	
                A:  The
      opinion(s) provide the home purchase firm with marketing strategies should
      you turn the home over to them.  At the same time, the Brokers
      may make recommendations on how to make the property more
      marketable.  This information will also be given to you to help
      you sell the home during your 60-day marketing period.  The
      appraisers' final value is independent of the Brokers'
      Opinions.

                 

                Q:  What should I do when I
      receive an offer to purchase my home?

                 

                A:  Call
      your Consultant immediately.  If your Consultant is not
      available, include the clause "Subject to review by the home purchase
      firm" in your acceptance.

                 

                Amended Value Offer

                 

                 Q:
      If I am able to find a
      buyer willing to purchase my home for more than the Appraised Value offer
      or even at the Appraised Value offer, is it beneficial to me to assign the
      offer to the home purchase firm for closing?

                 

                A:  Yes.  The
      home purchase firm will: (1) handle all the details; (2) advance either 98
      percent of your equity based on the Appraised Value offer or
      the amount required to purchase the new home, whichever is less.
  

              


      

      



      
        
           


        

        
          48

          
            

          

        

        
           


        

      


      


      
        	
                 

                     Should
      the assigned offer fail to close, the Appraised Value offer will be
      amended to reflect the sales price.

                 

                Q:  If I assign an offer, will my
      Realtor receive a commission?

                 

                A:  Yes.  This
      cost is paid by the home purchase firm at the close of escrow and assumed
      by PG&E.

                 

                Q:  Why must a purchase contract
      be signed only by the Home Purchase Firm?

                 

                A:  In
      order to meet Internal Revenue Service guidelines, the purchase and sale
      agreement can be signed only by your buyer(s)
      and the Home Purchase Firm.  The Power of Attorney you sign
      allows the Home Purchase Firm to sign in your behalf as your
      nominee.  Failure to follow these guidelines will negate the
      benefit of using the Home Purchase Firm AND will result in a substantial
      tax liability for you.

              	
                Equity Advances

                 

                Q:  What if I want two advances
      of  my equity:  one to be forwarded to the title
      company handling the closing of my new home and one to be given directly
      to me so that I may begin redecorating the new home,
      etc.?

                 

                A:  Advances
      are made only to escrow accounts.  The equity advance to escrow
      is a benefit provided so that you will not be subject to the customary
      closing procedures (no funds received from the existing home until close
      of escrow).  With the advance, you are able to purchase your new
      home in an expeditious manner.

                 

                 

                 

                 

                 

                 

                 

                 

                 

                 

                 

                 

                 

                 

                 

                 

                 

                 

                 

                 

                 

                 

              


      


      
        
           


        

        
          49

          
            

          

        

        
           


        

      


      


      
        	
                CAL VET/VA Loan Transfer

                 

                Q:  What if I have a CAL VET or VA
      loan on my present home that I want to transfer to my new home, but I am
      unable to make the transfer for six to eight months due to the
      state/federal procedures?

                 

                A:  The
      home purchase firm will take your home into inventory while you continue
      to make mortgage payments; however, if the home purchase firm is able to
      find a buyer prior to the transfer of your CAL VET/VA loan, you would be
      required to pay off the loan so that there is clear
      title.  (Notify the home purchase firm immediately if you plan
      to transfer your loan.)

              	 
      


      


      
        
           


        

        
          50

          
            

          

        

        
           


        

      


      
        GLOSSARY
OF TERMS

      

      


      
        
          	
                  Amended
      Value

                


        

      

      


      A
negotiated offer, presented by a Broker, which the homeowner and home purchase
firm determine exceeds or equals the Appraised Value offer and which the
homeowner, upon acceptance, instructs the home purchase firm to close and
administer.  Should this sale fail to close, the Appraised Value Offer
will be amended to reflect the sales price of the offer, which was
assigned.

      


      Appraisal
Worksheet

      


      A form to
be completed by each new hire, with the assistance of a Broker, supplying
pertinent comparable sales and listing data to the appraisers and home purchase
firm.

      


      Appraised Value
Offer

      


      The value
derived from an average of two independently obtained appraisals and extended by
the home purchase firm to a homeowner.  The offer is valid for 60
days.

      


      Contract for
Sale

      


      The
document by which a new hire sells his/her home, or assigns his/her home for
sale to the home purchase firm.

      


      Date of Possession
(Appraised Value Sale)

      


      The date
the homeowner vacates the home provided the home purchase firm has received
signed contracts.

      


      Equity
Advances

      


      Depending
on individual need, two types are available:

      


      1) A
reasonable sum for an earnest money deposit on a residence in the new
location.

      


      2) The
lesser of the amount required to purchase the new residence or 98 percent of
equity based on the Appraised Value offer.

      


      Exclusion
Clause

      


      Language
commonly included in relocation-related listings, which allows a homeowner to
sell his/her home to the home purchase firm for the Appraised Value offer
without incurring the cost of a Broker's commission.

      



      
        
           


        

        
          51

          
            

          

        

        
           


        

      


      


      Independent
Appraisers

      


      Specially
trained and certified professionals hired by the home purchase firm on a fee
basis, who establishes the Appraised Value for residential real
estate.  Each appraiser used is experienced in establishing values in
the area where a new hire’s home is located.

      


      Marketing
Period

      


      The
period of 60 days, beginning with the postmark date of the written Appraised
Value offer, during which a homeowner may choose to assign an independent sale
or accept the Appraised Value Offer.

      


      Proration
Date

      


      The date
the home purchase firm assumes responsibility for the ongoing expenses
(mortgage, insurance, utilities, etc.) of a property.

      


      Vacate Period
(Appraised Value Sale)

      


      The
period of time from the date of acceptance of the Appraised Value offer to the
date the property is formally vacated (up to 60 days).

      


      


      


      


      


      



      
        
           


        

        
          52

          
            

          

        

        
           


        

      


      
        	
                 
      

              	
                TAX
      SUMMARY FOR NEW HIRE HOMEOWNER –
OFFICER

              


      

      (moves
more than 50
miles)

      


      
        	
                ASSISTANCE

              	
                TAXES
      WITHHELD

              	
                TAXES
      PAID BY

              
	
                Household
      Move

                 

                Household
      Storage

                First
      30 days

                 

                Over
      30 days

              	
                None

                 

                 

                None

                 

                Federal,
      State, FICA & SDI

              	
                Fully
      Excludable

                 

                 

                Fully
      Excludable

                 

                Company:   Flat
      Rate

                Employee:  FICA
      (OASDI) & SDI

                 

              
	
                Moving
      Allowance

              	
                Federal,
      State, FICA & SDI

              	
                Employee*

                 

              
	
                Home
      Sale-Direct Reimbursement

                (In lieu of Home
      Purchase Firm)

                 

                Tax Offset (up to one
      month’s salary)**

              	
                Federal,
      State, FICA & SDI

              	
                Employee*

                 

              
	
                Home
      Purchase-Direct Reimbursement*

                AND
      Company Mortgage Program

              	
                Federal,
      State, FICA & SDI

              	
                Company:  Flat
      rate up to maximum,

                                   excluding
      points.

                Employee:  Points.
      Federal, State, FICA & SDI

                 

              
	
                Mortgage
      Interest Differential Allowance

              	
                Federal,
      State, FICA & SDI

              	
                Employee

              


      

      


      


      


      *Taxes
owed by the employee are deducted DIRECTLY from the
reimbursement.  This is an IRS requirement.

      **Capped
at $10,000.  Pro-rated based on reimbursement.

      


      


      



      
        
           


        

        
          53

          
            

          

        

        
           


        

      


      


      


      


      


      All
reimbursements for moving expenses will be included on the employee's W-2 as
other income except household move, storage (first 30 days).

      


      Federal,
State and FICA taxes withheld will also be included on the employee's W-2
whether paid by the employee or the company.

      


      The
company will furnish a Relocation Expense Summary, which is to be filed with the
employee's tax return.  The information will be provided by January
31, for the prior year's expenses.

      


      The
company uses a standard withholding rate 25% Federal, State*, 1.45%
Medicare.

      


      2009 FICA
Limits:  6.20%
(OASDI)    to             
$106,800

                                    1.45%
(Medicare)
to                 
unlimited

      


      2009
SDI               1.10%                  to                    
$90,669

      


      *
State Tax, where appropriate, will be part of the Company tax
gross-up.

      


      


      
        	
                 
      NOTE:

              	
                If
      an item is considered taxable, but paid directly to a vendor, any tax due
      will be deducted from the next payroll
check.

              


      

      


      



      
        
           


        

        
          54

          
            

          

        

        
           


        

      


      


      HOME
PURCHASE-DIRECT REIMBURSEMENT

      


      This
example is intended only to illustrate process.  The pay rates may not
reflect actual rates in effect at the time of payment.

      


      Reimbursable
Items:

      


      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        	
                                                Reimbursable
      Items:

                                                 

                                              	 
      	 
      	
                                                Purchase
      Price:

                                              	
                                                $225,000.00

                                              
	
                                                Points

                                              	
                                                $3,600.00

                                              	 
      	 
      	 
      
	
                                                Credit
      Report

                                              	
                                                50.00

                                              	 
      	 
      	 
      
	
                                                Document
      Preparation

                                              	
                                                150.00

                                              	 
      	
                                                2.5% of Purchase Price
      =

                                              	
                                                $5,625.00

                                              
	
                                                Appraisal

                                              	
                                                300.00

                                              	 
      	
                                                Home
      Inspection

                                              	
                                                +   425.00

                                              
	
                                                General
      Home Inspection

                                              	
                                                325.00

                                              	 
      	
                                                Total
      Reimbursed

                                              	
                                                $6,050.00

                                              
	
                                                Escrow
      Fees

                                              	
                                                450.00

                                              	 
      	
                                                Points-Employee Tax
      Liability

                                              	
                                                -3600.00

                                              
	
                                                Title
      Insurance

                                              	
                                                985.00

                                              	 
      	 
      	 
      
	
                                                Termite
      Inspection

                                              	
                                                95.00

                                              	 
      	 
      	 
      
	
                                                Notary
      Fees

                                              	
                                                25.00

                                              	 
      	
                                                Relocation
      Tax Liability

                                              	
                                                $2,450.00

                                              
	
                                                Recording
      Fees

                                              	
                                                35.00

                                              	 
      	 
      	 
      
	
                                                Tax
      Service

                                              	
                                                76.00

                                              	 
      	 
      	 
      
	
                                                Flood
      Check Fee

                                              	
                                                20.00

                                              	 
      	 
      	 
      
	
                                                Home
      Inspection

                                              	
                                                425.00

                                              	 
      	
                                                (Not
      Subject to the 2.5%cap)

                                              	 
      
	
                                                TOTAL

                                              	
                                                $6,536.00

                                              	 
      	 
      	 
      


                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

      


      Mechanics of Tax Gross/Up
& Withholding

      The
amount of $5,625 + $425 = $6,050 is reimbursed because it is the Lesser of
actual or 2.5% of the purchase price.  Points may be deductible as an
itemized deduction so they are not grossed
up.

      


      
        	
                Total
      Amount Reimbursed:

              	
                $6,050.00

              	 
      	
                Amount
      Company Paid Tax On:

              	
                $2,45000

              
	 
      	
                Gross
      Up:(FIT, SIT & Medicare)

              	
                1,363.23

              	 
      	
                Co.
      Paid Gross Up: (FIT, SIT & Medicare)

              	
                1,363.23

              
	 
      	 
      	 
      	 
      	 
      	 
      	
                Amount
      Employee Pays Tax On:

              	
                3,600.00

              
	 
      	 
      	
                Amount
      Reported:

              	
                $7,413.23

              	 
      	 
      	
                Amount
      Reported:

              	
                $7,413.23

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
                Employee

              
	 
      	 
      	 
      	 
      	
                Total
      Taxes

              	 
      	 
      	
                Tax
      Paid by PG&E

              	 
      	
                Tax
      Liability

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	
                “Points”

              
	 
      	
                Amount
      Taxes were based on:

              	 
      	 
      	
                $2,450.00

              	 
      	
                $3,600.00

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                FIT*

              	
                25.00%

              	
                $1,853.31

              	 
      	 
      	
                $953.31

              	 
      	
                $900.00

              
	 
      	 
      	
                SIT*

              	
                9.3%

              	
                570.63

              	 
      	 
      	
                354.63

              	 
      	
                216.00

              
	 
      	 
      	
                Medicare*

              	
                1.45%

              	
                107.49

              	 
      	 
      	
                55.29

              	 
      	
                52.20

              
	 
      	 
      	
                OASDI

              	
                6.20%

              	
                459.62

              	 
      	 
      	 
      	 
      	
                459.62

              
	 
      	 
      	
                SDI

              	
                1.10%

              	
                81.55

              	 
      	 
      	 
      	 
      	
                59.31

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                *TOTAL

              	
                64.25%

              	
                $3,072.60

              	 
      	 
      	
                $1,363.23

              	 
      	
                $1,709.37

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                AMOUNT
      TO BE WITHHELD:

              	 
      	 
      	
                1,709.37

              	 
      	 
      


      

      Net
to Employee:           
$4,340.63                                   
($7,413.23 – 1,363.23 - 1,709.37)`


      
        
           


        

        
          55