I'm sure you have already, but just as a public comment, you probably should check with your broker or state regulatory agency if you are trying to stay in compliance.

But as far as the Portland metro area, it is not a required disclosure in the "public" area of a listing (but certainly is in the "only the agent can see " area.)

However, if you are trying to attract buyers by declaring a "Short Sale...look at this opportunity!..."..., at least in my area, you would be free to do it, with the Seller's permission.

Good luck to you Gary!!!

For the Phoenix area, it's required by our MLS to indicate a short sale as "lender/corp approval required" in the public area.  However, I've seen many listings that ignore that requirement.  It's really a pain when your buyer doesn't want to see short sales, and then they get short sale listings because they aren't marked correctly (which is what the listing agents want).  I spend a lot of time having to tell these clients excited over a listing that it's a short sale.

In my experience I have found it best to put the fact that the sale is a short every where that I can. I usually start all my advertising with something like "Investor special short sale all offers considered" as a tag line. The reason for this is that there are many buyers out there that think their is an opportunity to get a deal. This also draws out investor types that I am able to call on when I need that last minute offer on a place before the bank takes a property. On the reverse side, these days there are many brokers that are refusing to show shorts because they look at the commission that is quite ofter reduced, or they have had negative experiences in working a short. Because of these brokers that are not presenting the properties, my advertising method has the buyer bringing the home to those agents where by they then show the property.

In Palm Beach County Fl, yes, it is required to disclose that the sale is short, disclose that the final price AND commissions are subject to lender(s) approval.

In advertising: yes I do disclose that the sale is short and also disclose that the sale requires lender's or lenders'  approval. With such discrepancies in listing prices within a specific community, I believe that it is best to disclose the short sale and that it requires the approval of the lenders.

Good luck

Sagine

Gary,

Under our MLS Rules and Policies it states that "All listings input into the MLS shall be complete in every detail."  To omit pertinent information is a violation that could very well lead to a fine.

It is required with our MLS to disclose a short sale as well with the information including "offer subject to lender approval".  The commissions are also subject to lender approval and this should be disclosed in the agent comments area of the MLS not viewable by the public.

In Flagler County it is a requirement to put it as a short sale in the mls with disclaimers about the commission and the pricing in the mls. It's something that shows in the body of the listing so consumers see it also if the listing is sent to them.   We also use the state approved short sale addendums when writing an offer.  

As for advertising, well, there is nothing regulating that. Some agents put that it's a short sale but most don't.  

Regardless of rules or regs, what would be the benefit of not disclosing a short sale listing as such?  If a buyer does not have the time to wait out the process, they will not want to look at short sales.  Why fall in love with a property that you can not wait months for?  There are also  buyer's who are looking for short sales and REOs, they have the time to wait for the deal.

Jana