Q: I have accepted an offer on my home subject to the bank approving a short sale. Does my agent have to list my home as pending?
Yes. Once there is a signed, sealed and delivered contract executed between buyer and seller, MFRMLS rules clearly indicate the status of the home's listing must be changed to "pending".
The MLS rules and regulations addresses this issue by stating:
"Contracts which are subject to approval by a court, lender or other third party must be reported as "pending" consistent with Article 4 Section 15 of these Rules."
If you are interested in buying a home subject to short sale or have a home you are wishing to sell subject to a short sale, contact me to discuss the short sale process.
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