Am I required to disclose that a property is Real Estate Owned (REO)/Bank-owned/Pre-foreclosure when listing it? : MRED Support Center

Am I required to disclose that a property is Real Estate Owned (REO)/Bank-owned/Pre-foreclosure when listing it? Print

Modified on: Mon, 3 Jun, 2019 at 4:45 PM

No; MRED does not require this disclosure when marketing the listing. This is a marketing decision between the listing broker and the bank.

However, the listing must be marked as a foreclosure in connectMLS upon closing. This is accomplished by going to edit listing status, selecting closed, and marking foreclosure under short sale, foreclosure, or court-approved.

Note: You can look up a property’s owner of record by clicking on the Parcel Identification Number (PIN) on the listing sheet.

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Am I required to disclose that a property is Real Estate Owned (REO)/Bank-owned/Pre-foreclosure when listing it? Print

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