When A home changes MLS status from short sale to agent owner?

Question by shannon s: When A home changes MLS status from short sale to agent owner?
What does this usually mean? A home we have been interested in recently changed status in the MLS. We have been put off by the fact that the home was a short sale as sitting with our hands tied for months waiting for a bank response doesn’t appeal to us. I have not yet moved to the area I am debating using an agent as I have already looked thoroughly into the area the schools are great no sex offenders or meth houses in the area crime maps are clean city has a good water supply and the schools are great etc. My offer can only be what I can afford minus any estimates to make the home habitable. I also have access to a real estate lawyer to review everything.

This is the e-mail I would like to send to the listing agent:

I noticed this home on the MLS awhile back. Its listing status just changed from Short Sale to Agent/Owner. Is this property still a short sale or has the ownership changed hands? The listing states the home is in need of repairs The photos attached to the listing are only of the exterior I would love an honest assessment of the shape that this home is in. Have any appliances or systems been replaced or updated? How old is the roof? Is the Water Heater more than 6 years old? Are there any known foundation problems? Is the home habitable in its current state? I am aware that “subd y” was built on top of a mine and therefore has a disclosure regarding sinkholes is this also the case in “subd x”? Has the property ever had a soils test performed on it? Thank you in advance for any information you can provide regarding this property.

Would asking these questions endanger me if I later choose to work with a buyers agent? Is there anything in my wording that could be improved upon?

Thanks in advance!

Best answer:

Answer by juliatn1
One possibility is that an agent bought this property as a short sale and opted to immediately put it back on the market.

Laws will vary in different states but generally if an owner has not lived in the home, they are not required to file any disclosures about the condition of the property.

You can certainly ask these questions and the owner/agent may provide answers if s/he has them. It generally wouldn’t preclude you from using a buyer’s agent if you choose to go through with the sale.

My advice would be to contact a buyer’s agent and request that they preview the home for you (if you are not geographically able to do so).

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