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Bank of America's New Short Sale Policy - Trying to Control MLS?

**** I just received a call from the Florida Association of Realtors legal department. They said Bank of America relayed they will be issuing a clarification email. ****  
 
The recent Bank of America Short Sale agent update that was emailed out today states:
Your Bank of America short sale listing must be "marketed in the MLS" as ACTIVE until an approval letter is issued. How you are to fill out your MLS fields in a general manner and specific manner.  
Many MLS rules and even some State laws may disallow keeping short sales "active" on the market after the seller has accepted an offer. The Florida Association of Realtor says a short sale contract is still a contract. In fact, my local MLS. the Emerald Coast Association of Realtors in Florida, has a rule that even short sale properties that have "offers" (unsigned by the seller), that are sent to the short sale lender (don't do that), must be removed from "active" MLS status, and placed into "pending" or "contingent" status. 
When I initially read the email I thought it was intended for REO agents (where Bank of America is the seller), not short sale agents. I was mistaken. I think this latest ... more

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