Real Property - For Sale
Real property that the participant is making a good faith effort to sell is not countable.
Establish that the participant is making a good faith effort to sell the property by verifying both of the following:
●The property is for sale
●The participant has not declined a reasonable offer
The good faith effort to sell the property can be verified through any of the following:
●A classified ad in the newspaper or Internet
●A real estate broker
●Other reasonable proof
Key the following information on OTAS:
●The RS Other Assets Code in the TY field.
●The equity value of the real property for sale in the EQUITY field.