Southern New Jersey Overlook

head_left_image

New Contingency Indicators for Listings Still Being Shown With An Agreement of Sale

For those of us who are Realtors in the Delaware Valley or anyone receiving listings sent from the MLS (TREND) serving most Delware Valley area Realtors, this is a reminder/notice that the recent status of "A/C", which was "Active with Contract", has been discontinued. 

Starting in June 24, 2007, that status will be replaced by what is being called "contingency indicators" to better reflect the situations when an agreement of sale is involved and the property is to continue to be allowed to have showings.

The new contingency indicators will show as:
  • ACT-A - Attorney Review (New Jersey only)
  • ACT-E - Escape Clause (also known as Kickout Clause)
  • ACT-F - First Right of Refusal
  • ACT-O - Other (other situations where the seller is demanding that showings continue on a listing)

    In addition, additional questions will be asked to further qualify status updates to help determine when a listed changes from active to pending.

    NOTE: Realtors should consult their TREND Info Center for more information.
     
     
     
    For real estate resources, help and support services in acquiring or selling properties in New Jersey, Visit my web site: LawrenceYerkes.com
       
    and visit Besthomes-NJ.com to shop for the latest New Jersey Real Estate property listings (Residential, Commercial, Multi-Family, Farm, Land).   
     
    Copyright 2007 by Lawrence Yerkes. All Rights Reserved.   
    • 0 comments • Lawrence Yerkes - Broker Associate, Southern New Jersey Real Estate Services • June 02 2007 08:51PM

    Comments

    This blog does not allow anonymous comments