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Old 10-04-2008, 05:42 AM
 
Location: Stewartsville, NJ
7,577 posts, read 21,373,120 times
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I have a question - at what point is a realtor obligated to remove a listing from MLS once an offer is accepted? After attorney review? Reason I ask is, we have an agreement to purchase a home... it's in attorney review...the listing expired the day after we made our offer and now the listing is up again on the MLS? Should I be concern or is this normal????
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Old 10-04-2008, 06:01 AM
 
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I don't know the laws in NJ, but here a listing can stay on the MLS until it closes...the status would change to pending, or contingent.

If you are still in attorney review, doesn't that mean that officially the house is not under contract yet in NJ?
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Old 10-04-2008, 06:02 AM
 
Location: Palm Coast, Fl
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I believe in Jersey that is normal. Down here in Florida it would be different...it would already be pending because there is no attorney review. Our mls, even if it expired during the pending status would leave it as pending. Because of attorney review things are handled differently. Since it's not actually under contract yet it would be 'normal' to have the seller to resign a listing agreeement and have it active.
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Old 10-04-2008, 06:07 AM
 
Location: Stewartsville, NJ
7,577 posts, read 21,373,120 times
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Our realtor took ours off the MLS as soon as attorney review was completed... I guess this is just a "good faith" jesture on the part of my realtor??? Maybe I'm just reading too much into it : ))
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Old 10-04-2008, 06:07 AM
 
Location: Back in the Mitten. Formerly NC
3,832 posts, read 6,007,902 times
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NC does pending as well until the closing.
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Old 10-04-2008, 06:17 AM
 
1,949 posts, read 5,637,899 times
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Quote:
Originally Posted by wileynj View Post
Our realtor took ours off the MLS as soon as attorney review was completed... I guess this is just a "good faith" jesture on the part of my realtor??? Maybe I'm just reading too much into it : ))
But you're still in attorney review, so maybe the listing will come off after.

I don't think this is an indication of anything.
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Old 10-04-2008, 06:26 AM
 
Location: Cary, NC
39,013 posts, read 67,577,975 times
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MLS's are operated by the MLS rules, more than by State laws.

The rules of the local MLS, and local custom will likely be the determining factors on what is appropriate.
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Old 10-04-2008, 06:33 AM
 
Location: Venice Florida
1,380 posts, read 5,564,415 times
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I don't think you have a contract until after attorney review. Normally the status is changed when a property goes under contract.
I've always wondered what would happen if a new/better offer came in during attorney review. It seems that the review opens a window of ambiguity.
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Old 10-04-2008, 07:28 AM
 
610 posts, read 2,573,432 times
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If the listing expired prior to closing, in my state, the agent is required to relist the property. Usually it shows up as A/I (attorney inspection) or PEND (pending) or CTG (contingent offer) until the closing. Once the house closes we mark it CLSD (closed).
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Old 10-04-2008, 02:16 PM
 
342 posts, read 675,947 times
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Wiley, I believe in NJ that it is listed as in contract after attorney review. It should be listed in the MLS as under attorney review now.
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