Zillow Advice: FSBO - Short Sale and/or Foreclosure is a Material Fact and Must be Disclosed

Sellers can refuse but buyers ...

Thu, 11 Jun 2009 21:30:00 GMT

Sellers can refuse but buyers can refuse to buy it. The seller can also answer no representation and hopefully they have a good agent that will look at the deed before they let their client make an offer. It will also come out in the title search( the contract should state seller is to deliver clear title or the contract is void) and the buyer would get to walk away and receive their earnest money back

I purposefully listed this ...

Wed, 18 Mar 2009 01:59:00 GMT

I purposefully listed this under the North Carolina listings. This is required to be disclosed in North Carolina.

I've seen many homes listed ...

Thu, 12 Mar 2009 05:19:00 GMT

I've seen many homes listed locally (in Minneapolis) where agents (at the request of their clients) have checked 'not disclosed' or 'no' on MLS regarding bank owned or short sale disclosure. What's more disturbing is knowing that a home has been foreclosed but the owner is attempting to sell during the 6 month redemption period and the agent has not disclosed this very material fact. And under Minnesota law, this is all perfectly legal.

All of the above. Online. ...

Thu, 12 Mar 2009 03:39:00 GMT

All of the above. Online. In person. And in Multiple Listing Services.

Just because a homeowner decides to Sell by Owner, does not mean they are exempt from following the law. And most states require a Property Disclosure form. And those forms clearly state that any pending judgements, foreclosure, and lawsuits against the property must be disclosed on the form. And a copy of the form must be made available to potential buyers.

hi Natewolf, when you ...

Thu, 12 Mar 2009 01:19:00 GMT

hi Natewolf,

when you say you "see" many FSBOs missing the seller disclosure, do you mean in person at the property, online or?

thanks