Is this legal?

**lookin** · 12-14-2009, 06:31 AM

I put an offer in on this shorts sale back in July. This is the listing history.

Date Event Price Appreciation Source Dec 14, 2009 Relisted -- -- SoCalMLS Nov 30, 2009 Delisted -- -- SoCalMLS Nov 30, 2009 Relisted -- -- SoCalMLS Nov 06, 2009 Delisted -- -- SoCalMLS Sep 21, 2009 Price Changed $289,000 -- SoCalMLS Jun 09, 2009 Relisted -- -- SoCalMLS May 26, 2009 Delisted -- -- SoCalMLS Jan 12, 2009 Listed $485,000 -- SoCalMLS

Is this type of activity legal? I thought that there are time periods that must be followed on a short sale. Or is this how to get around those times?

Dave

**markbrian** · 12-14-2009, 07:42 AM

It will depend on the specific rules of that MLS. I see similar activity in my MLS all the time, but by performing simple due diligence I can see when this has happened.

**jamesww** · 12-14-2009, 02:59 PM

There is nothing illegal or considered an infringement on MLS rules according to what you have posted. Short Sales are a messy business for you your clients and the other side.

**caseyzeman** · 12-14-2009, 03:25 PM

I have done a few short sales in Southern California and what you are seeing here is the price change in the offers coming over to the bank. The bank dismissing those offers and then the new listing from that. The initial offer was so high that no one was biting. So from that change. Every time someone wrote an offer they took it off the MLS only to put it back on when the bank offer wasn't accepted.

**Greg** · 12-15-2009, 06:03 AM

There are no short sale rules or laws. Anything goes and you should expect the worst.

The best thing for any buyer working on a short sale is to keep looking at other houses. Short sales are not always the best deals and most of them do not close.

**PreviewOrangeCounty** · 12-15-2009, 08:22 PM

Looks legal to me, I have seen more crazy listing related things this year than all years combined. Even worse is when the listing agents price them 30% below market and there is a frenzy to get an offer accepted in 1st position than hoping the bank will approve