MFRMLS UNIVERSITY: Realtor Information Field Definitions

Realtor Information Field Definitions

These are definitions for the picklist items in the Realtor Info field of MLXchange. This list will grow as definitions are approved by the appropriate task force.

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A

Agent Related to Owner

Listing agent is related to an owner of the subject property.

Agent/Owner

Listing agent is an owner of the subject property.

Association Approval Required

Association (Homeowner or Condo) must approve the buyer for the property being sold.

Assumable Mortgage

A type of financing arrangement in which the outstanding mortgage and its terms can be transferred from the current owner to a buyer.

B

Brochure Available

Listing Office has a brochure for subject property available for prospective buyers.

C

CDD Addendum Required

Community Development District Addendum must accompany a contract for purchase and sale of subject property which states that buyer agrees to be responsible for all assessments or charges from the Community Development District.

Condominium Disclosure Available

Listing office has on file and available the condominium disclosure statement signed by the seller for subject property.

Condominium Documents Available

Listing office has on file and available the complete condominium documents for subject property.

Corporate Owned RELO

“Corporate Owned RELO” is a property which is being offered for sale by the employer of the immediate former owner, and the employer: (i) holds legal title to such property, (ii) does not reside in the property, and (iii) is not in the business of acquiring, selling, holding for investment, or otherwise managing or renting, such property. Note: This is not a short sale or REO/Bank-owned property.

D

Deed Restrictions

Subject property has recorded restrictions that limit its use or occupancy.