Nov 15, 2011
MLSs can now require sale-price reporting and REO disclosure
15 Nov 2011
Posted by Andrew Kantor
At the NAR annual meeting, the directors have changed the model MLS rules — now an MLS can require participants to report sale prices. In “non-disclosure states,” if an MLS provides those sale prices to other organizations (including government agencies), sellers can ask that their sale price not be disclosed.
MLSs also can require participants to disclose whether a property is a foreclosure, bank-owned, or real estate-owned (REO).
As soon as we have links to more details, we’ll post them.