Here's an Email You Hate to Receive

To all Broker and Agents;

Due to the foreclosure processing problems being addressed by XYZ, we have been advised not to list any assets or accept any offers until this is resolved.

In the interim, Agents are still responsible for managing and marketing the assets per the listing agreement.

MLS rules may require that you change the status in the MLS to “temporarily off market”. Please follow the MLS rules.

Even if an asset is under contract, we are in a holding pattern until XYZ gives further guidance.

Keep your asset manager advised if you encounter problems.

We will keep you updated on any status changes.

Thank you for your cooperation.

Anyone else get similar correspondance?

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  • I got it about a month ago, but it was on a sale that I have pendng. My asset manager is telling me that files under contract will be addressed first and foremost, but it's been over 30 days and nothing. Luckily, buyer is willing to stick it out.
  • I basically got the same email Friday!
  • I have been froze since earlier this month, and it appears that I will be froze for another 30 days, the lawyers for one of my clients made some mistakes with affidavits, Thanks God I have some new clients that are keeping me busy.
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