REALTORS®
Helping REALTORS®
Iowa and Minnesota Flooding Victims
Imagine, if you can, what your life would be like tomorrow if your home, your car and all of your personal possessions were swept away in a flood.
Add to that trauma, the fact that you have no insurance coverage because your home was located in an area where flooding was not an issue. This is the nightmare some REALTORS® face in many parts of NE Iowa and some areas of SE Minnesota.
YOU CAN HELP!
The Minnesota Association of REALTORS® (MNAR) working in
coordination with the Iowa REALTORS® Foundation and the
SE Minnesota Association of REALTORS® is asking you for
a contribution to assist your fellow REALTOR® members through
this terrible situation. You can rest assured that 100% of the money collected
will be directed to Minnesota or Iowa REALTORS®.All administrative
costs will be paid for by the Minnesota or Iowa Associations of REALTORS®.
Your contribution will be used by a REALTOR® during this
terrible time.
COMMON QUESTIONS:
How do you decide who gets my contribution?
All contributions will be dispersed to REALTOR®
members based upon their estimated financial losses. If one member loses
their house and another has substantial flooding, the money will be divided
into a percentage of all losses. A member must have actual property losses
of at least $5,000 to receive a percentage of the funds. The Iowa Association
is working with NAR to appropriate dispersion of funds.
Who determines which members receive funds?
Policy will determine who receives the funding. It is based upon
actual physical losses, not including loss of income. Numerous members
have real estate transactions that have been affected by the floods. We
cannot help all of the members who have had closings canceled or transactions
delayed. Instead, the funds will be used to help REALTORS®
who have sustained physical property losses and do not have insurance
coverage to replace the items.
How do REALTROS® apply for the funds?
REALTORS® in Minnesota can fill out out
this application form. In Iowa, the Iowa Association of REALTORS®
is handling the application for funds. Members should direct other members
to the application form in the appropriate state if they have sustained
physical losses as a result of the flooding.
Is my contribution Tax Deductible?
YES. If you make your check out to the "Iowa REALTOR®
Foundation."
Where do I make a contribution?
Please mail your check to:
REALTORS®-Helping-REALTORS® Fund
5750 Lincoln Drive
Edina, MN 55436
Make checks payable to: Iowa REALTOR® Foundation
If you have further questions, please contact Chris Galler: cgaller@mnrealtor.com.
OTHER ASSISTANCE OPTIONS
You can help the members in Iowa in other ways. Financial contributions
are easiest, but numerous cleaning opportunities will be available for
those who would like to take more action. Beyond just damaged homes and
real estate offices, everything that makes up a community has been damaged
by the severe flooding. MNAR and your local association can help you or
your office coordinate a trip to Iowa to help cleanup REALTOR®
properties. Both the Cedar Rapids and Iowa
City Associations of REALTORS® will help us direct you
to locations, times and places where REALTORS® will be
helping REALTORS® get back to normal. Additional information
is available if you are interested in helping with the physical cleanup.