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- Determine net proceeds from the sale. The participant must submit evidence of the gross amount for which the resource was sold, the amount of any mortgage balance, legal fees, realtor fees, etc. Question the participant to ensure all items are included in the report. The participant must keep records of expenses in disposing of the resource, they must submit the record or receipts showing the nature, amount, and time of such expenses. Subtract all of these amounts from the gross figure in determining the net from the sale.
- If net proceeds from the sale of the property, together with all other resources,are less than the maximum resource limit, the family is eligible on the basis of resources.If net proceeds from the sale of the property, together with all other resources, exceed the resource maximum, consider the family ineligible on resources. Ineligibility begins the month after the family receives the proceeds from the sale, if the proceeds are retained. If the money from the sale of the property is not kept by the family, and is not converted into another type of countable resource, do not consider it an available resource.