I’m getting an increasing number of calls to the VAR Legal Hotline about the legal and ethical issues REALTORS® face in increasingly-common short sales. In this brand new 29 minute webcast, I address some of the most frequently asked questions such as:
- Is it legal or ethical to require the seller to state that the home is a short sale listing in the MLS?
- What happens when a ratified contract with a third party approval clause fails because the third party rejects the offer?
- What are my obligations when the bank asks me to reduce my commission on a short sale?
- Why aren’t lenders required to pre-approve the selling price before short sale listings are entered into the MLS?
- Are “conditional commissions” permitted in the MLS?