The Bank Won’t Let Me
Posted on February 11th, 2010 by Jonathan Dalton
Sometimes it’s easy to forget that banks aren’t running the show here.
Such as with the “active” listing one of my clients wanted to see, which is listed as “active” even though the REALTOR remarks show a contract has been accepted.
“The bank won’t let us mark the home as pending until we close, probably.”
It’s not the bank’s choice; Arizona Regional MLS rules say once a contract has been accepted and executed (read: signed) the listing has to be either listed as Active with Contingencies or Pending. There’s no choice in the matter.
But, by all means, let the bank tell you what they want done. I hope they pay the fine for you when ARMLS’ compliance folks verify the improper status. Consider the violation reported.
[tags]Phoenix real estate[/tags]
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