The Bank Won’t Let Me

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]

Jonathan Dalton

Jonathan Dalton is a 40-plus-year resident of the Valley and has been helping folks buy and sell homes since 2004. He can be reached at 602-502-9693 or info at allphoenixrealestate.com.

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