URGENT: SLS forcing use of Auction.com now?
Does anyone have a way to get out of SLS forcing us to use Auction.com when we already have a buyer and a contract in place? The Seller can't legally get out of the contract so I don't see how the lender can force the seller to sign an auction.com agreement.
Auction agreement is here: https://www.sls.net/forms
Replies to This Discussion
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Permalink Reply by Brett Goldsmith on
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Typically you can't. They can deny the seller for a short sale for not cooperating. Mr Cooper does this often.
If they did a value and if the offer is in line with the value, then you might be able to bypass it.
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Permalink Reply by Smitty on
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I haven't seen the SLS contract, but as far as Mr. Cooper, my state does not allow us to have a 3rd party advertise our listings. Our MLS prohibits it. If we have a listing agreement, we are bound by the terms of that agreement and MLS started flagging those Mr. Cooper short sales where agents were advertising them on MLS and then pointing people to the 3rd party site from Mr. Cooper. we can get fined. Once I show Mr. Cooper the evidence and response from MLS they usually don't require it. They've been very good.
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