As Per Florida REALTORS:
Fannie Mae and Freddie Mac gave the go-ahead this week to restart sales of their foreclosed properties, which had been on hold since September when it was revealed that flawed or fraudulent court documents may have been used to repossess homes …… read entire story: Fannie Mae, Freddie Mac give the ‘go-ahead’ to resume sales of foreclosed homes
This article in Realty Times by Bob Hunt raises a very interesting question and the ruling from the California’s 4th Appellate Court, is certainly a concern for Brokers across the nation that are engaging in short sales. The disclosure process to a Buyer in a short sale may take on a different twist……please read this very interesting case law that might come to your State.
Suppose you had a listing and that, because of some fact about either the seller(s) or the property, you believed that any transaction would stand a greater than normal chance of failing to close. (Yes, I've had one of those too.) Would you have a duty to disclose those circumstances to a prospective buyer even before they entered into contract? Apparently, "yes”…..go here to read entire story: Realty Times - Short Sale Disclosure Ruling Raises Other Questions