Comments on: Let the Bidding Wars Begin Again in Prince William County http://varealestatetalk.com/2009/04/12/let-the-bidding-wars-begin-again-in-prince-william-county/ A Peek at Life & Real Estate in Northern Virginia Mon, 30 Jan 2012 13:39:29 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: cindyjones http://varealestatetalk.com/2009/04/12/let-the-bidding-wars-begin-again-in-prince-william-county/comment-page-1/#comment-268 cindyjones Thu, 23 Apr 2009 11:55:38 +0000 http://varealestatetalk.com/2009/04/12/let-the-bidding-wars-begin-again-in-prince-william-county/#comment-268 Jay-it is a frustrating process to weed through all of the listings that are obviously unavailable. Unless MRIS steps up the fine process when these are reported or changes the status themselves then it will continue. I Jay-it is a frustrating process to weed through all of the listings that are obviously unavailable. Unless MRIS steps up the fine process when these are reported or changes the status themselves then it will continue. I

]]> By: jay seville http://varealestatetalk.com/2009/04/12/let-the-bidding-wars-begin-again-in-prince-william-county/comment-page-1/#comment-267 jay seville Thu, 23 Apr 2009 10:46:17 +0000 http://varealestatetalk.com/2009/04/12/let-the-bidding-wars-begin-again-in-prince-william-county/#comment-267 Cindy, it's not fair that many of those listings are still being held as active. Part of the MRIS new guidelines state: "Appropriate status. The status for any listing where a ratified contract is subject to a lender approval must be changed to CNTG/KO or CNTG/NO KO, indicating a third-party approval contingency. MRIS's perspective is that a listing broker, in such an instance, may continue to market the property and continue to accept back-up offers. The MRIS Rules and Regulations require that the listing's status be changed within 48 hours excluding weekends and holidays. " A huge majority of "ratified" short sales are supposed to be listed as CONT and we shouldn't have to waste our time sifting due to the unprofessional listing agents. Cindy, it’s not fair that many of those listings are still being held as active. Part of the MRIS new guidelines state:

“Appropriate status. The status for any listing where a ratified contract is subject to a lender approval must be changed to CNTG/KO or CNTG/NO KO, indicating a third-party approval contingency. MRIS’s perspective is that a listing broker, in such an instance, may continue to market the property and continue to accept back-up offers. The MRIS Rules and Regulations require that the listing’s status be changed within 48 hours excluding weekends and holidays. ”

A huge majority of “ratified” short sales are supposed to be listed as CONT and we shouldn’t have to waste our time sifting due to the unprofessional listing agents.

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