- In order to show a good faith effort to sell, a family must:
- list the real property with a reputable real estate agent and cooperate with the real estate agent in marketing the property (i.e., showing the property, setting a realistic sales price, etc.) OR publicly advertise the property for sale no less than weekly in a general newspaper;
- accept reasonable purchase offers (i.e., meeting realistic sales price); and
- initiate any legal action necessary to force a sale when other owners outside the assistance group do not wish to sell.
- Monitor good faith efforts.The participant must report the following:
- which realtor the property is listed with OR proof of weekly advertising in a general newspaper;
- all purchase offers and their disposition; and
- if necessary to force a sale, what legal actions have been initiated.
Use the realtor as the primary source of information to verify the participant’s cooperation.
- If claimant is not making a good faith effort to sell, send advance notice of proposed closing due to excess resources.