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does this sound like foreclosure or just trying to sell a house asap?
"Seller may cancel this Agreement prior to the ending date of the listing period without advance notice to the broker, and without payment of a commission or any other consideration, if the property is conveyed to the mortgage ensurer or the mortgage holder. NOTICE TO COOPERATING BROKERS HIS TRANSACTION IS SUBJECT TO THIRD PARTY/LENDER APPROVAL; THE COMPENSATION OFFERED THROUGH MLS MAY BE REDUCED IF THE LENDER(S) REDUCE THE GROSS COMMISSION AS A CONDITION OF APPROVING THE SALE. ----->"
This was on a description for a house. What do you think?
4 Answers
- Anonymous9 years agoFavorite Answer
Hello, yes he is correct, this is a short sale. This is not generally placed in an mls listing perhaps the Agent is disclosing to buyers that the mortgage company has set guideline for the listing brokerage to follow pertaining to cancelling the listing and the commissions they will pay based on the offer and negotiations of that offer.
The only thing that concerns you here is that if you choose to make the offer the bank and or seller may cancel the listing with out notice, which cancels the sales offer without notice or payment of any type and you as the waiting buyer will be forced to start the wait over on another home. This can happen to any short sale.
Good luck,
Marzia Rivera
239-540-4884
World Class Realty Partners
www.LuxuryLivingSWFL.com
Source(s): www.LuxuryLivingSWFL.com - Jin HayashiLv 79 years ago
Short Sale ; Anytime you see 3rd party approval and compensation reduced commission
- 4 years ago
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