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The MLS has clearly stated that when a buyer and seller sign a contract to sell a home that has a short sale contingency, the home must be entered as pending in the MLS. Any additional offers on the home must be accepted as back up offers.
The change in the MLS from active to pending must happen in 2 business days.
This rule alerts buyers and agents prior to viewing and writing a contract that the home is already under contract.
Related Florida real estate views:
Real estate closings are in the hands of the banks
Short sale needs bank approval
Appraisals + short sales = no sale
- Greg Staker - 407-304-0255
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