Types of Status Disclosures

Status Disclosure Definition

a. First Right of Refusal: Parties have completed the “Addendum to Purchase Agreement - First Right Contingency” form, which allows the property to remain on the market. The listing is set to include the Status Disclosure of “First Right of Refusal,” which will display within the listing service.

b. Awaiting Corporate Signatures: REO and Relocation contracts whereby the corporate seller has agreed to a purchase agreement or bid but has yet to deliver fully executed (signed) documentation to the listing broker. Broker may elect to change listing to Pending or may allow the listing to remain in Active status by adding the Status Disclosure of “Awaiting Corporate Signatures.”

c. Limited Purchase Contingency: Parties have completed the “Addendum to Purchase Agreement – Limited Purchase Contingency Right” form which allows the property to remain on the market. The listing is set to include the Status Disclosure of “Limited Purchase Contingency Right”, which will display within the listing service.

Status Disclosure Application

a. Edit existing listing the Listings menu by selecting View/Manage My Listings & Transactions.

b. Use the pencil icon associated with the listing to be edited.

c. Select the Edit Status Disclosure option in the menu.

d.  Select the appropriate disclosure, then Save.

 

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