The loan committee will consider the following factors in making its decision on an offer regarding repossessed property:
- (1) the outstanding loan balance on the repossessed property;
- (2) the current assessed, appraised, surveyed, replacement, forced sale, or market value;
- (3) the present supply and demand for similar property;
- (4) the length of time the state has owned the property;
- (5) the length of time the property has been on the market;
- (6) the ongoing management costs of the property to the state;
- (7) any minimum acceptable offer set by the department;
- (8) whether the offer is for cash or requires departmental financing;
- (9) the credit history and financial condition of the person making the offer, if known;
- (10) other factors that the loan committee determines to be significant.
(Eff. 3/29/86, Register 97)
Authority: AS 16.10.310