May 07, 2008
New webcast: Ethical Considerations in Short Sales with VAR special counsel Lem Marshall
07 May 2008
Posted by VAR
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?