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MLS rule changes address short sales, active with contract status

Wednesday, March 13, 2013  
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The MFRMLS Board of Directors has approved the following changes to the MFRMLS Rules & Regulations:

Remarks and the words "Short Sale” (Article 4, Section 6 and Article 4, Section 14)

  • The words "Short Sale” are no longer required in the REALTOR® Only Remarks field.
  • Disclosure of any adjustments to commissions must still be disclosed in the REALTOR® Only Remarks.
  • The words "Short Sale” are still required as the first two words in the Public Remarks field.
  • "Short Sale” still must be disclosed in the Special Sale Provision field.

Expected Closing Date  (Article 4, Section 28)

  • Expected Closing Date is not required on listings indicated as "Short Sale” in the Special Sale Provision field.
  • The deadline to update a listing, where the Expected Closing Date has passed, has been increased to five (5) business days (after receiving a courtesy warning notice from our automated listing data-checker program).

Active with Contract (Article 5, Section 14)

  • Added REO Waiting Signatures as a contingency option.
  • An Active with Contract listing will be treated as an "Active” listing for export purposes only (example: Realtor.com and IDX websites) except if REO Waiting Signatures is selected as a contingency.
  • The words "Under contract taking backups” must be added as the first words in the Public Remarks.

Questions? Contact the MFRMLS Call Center at 1.800-686.7451 (option #1) or support@mfrmls.com.


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