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Send to friend| FYI | December 2009 |  |
WIREX Welcomes Central Wisconsin
WIREX was launched on January 20, 2009 with data from the South Central and Northeast MLSs integrated into flexMLS. Coming in December the MLS would like to welcome the Central WI MLS to WIREX. Central WI includes Marathon, Portage and Wood counties (Wisconsin Rapids, Wausau and Stevens Point). Please let us know how you think WIREX has been a benefit to your business. Please send your comments to InMyOpinion@metromls.com. Check out www.wirex.com for more information.
In Foreclosure/REO PROPERTIES
Disclosing “In foreclosure/REO” properties is not required. However, before disclosing these types of properties be sure the property meets one of the following criteria:
1) A mortgage holder (usually a bank, but could be a private party) has commenced a foreclosure action relative to a property and a “summons and complaint” has been filed in court – typically in the same county as the property. This commencement of the foreclosure action can be confirmed on http://wcca.wicourts.gov/index.xsl by searching one of the names of the seller.
2) A property has been through a court hearing of a confirmation of Sheriff’s Sale and the property was purchased and is now owned by the Mortgage Holder. This is commonly called Real Estate Owned (by a bank), hence the REO portion of the new detail code.
To search for “In foreclosure/REO” properties, click on the “Other” Tab within a Full Search for any property type and then click on “Financing Available”.
Rule Reminder
SECTION 5.0.1 – DISCLOSING POTENTIAL SHORT SALES: Participants must disclose potential short sales when reasonably known to the listing participant. When disclosed, participants may, at their discretion, advise other participants whether and how any reduction in the gross commission established in the listing contract, required by the lender as a condition of approving the sale, will be apportioned between listing and cooperating participants. Comments in the Private Remarks fields do not change or modify the unilateral offers of compensation in the MLS.
Holiday Hours
The MLS and WIREdata Corporation will be closed Thursday and Friday, December 24 & 25th and Thursday and Friday, December 31st and January 1st. Have a safe and happy holiday!!
We appreciate your business and support and look forward to your comments, questions and suggestions regarding any subject. Contact (InMyOpinion@metromls.com) or call (414) 778-5400.
