New Federal MARS Rules Effect Short Sale Disclosures

30. Mar, 2011 3 Comments

I have poured through the 53 page M.A.R.S documents and just posted a very important video below that covers the new M.A.R.S. rules implemented by the FTC that will effect every real estate agent that works with short sales. We have also posted a full length video and 4 example disclosures that you can use on your advertising in our Certified HAFA Professional members area. Click here to learn more.


Click Here to learn more about the CHP Program and get in-depth coverage of the new MARS rules

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Agent Marketing, Short Sales
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3 Responses to “New Federal MARS Rules Effect Short Sale Disclosures”

  1. Sandra Menyo Reply 31. Mar, 2011 at 11:07 pm

    Thanks for sending me this info. I have a lot of clients who have helped out thier children either by giving them money towards a down payment or paying off a second morgage (or equity line). Some of the parents have sunk a substancial amount of cash into the property and the only way out for thier child is to short sale the property. The parents are not allowed to make an offer on a short sale because they are related. Is there any change in this area. I find the short sales would move much faster if a parent or family member could purchase the property. Most of them have kept records of costly repairs as well. 1-774-306-6160

  2. Dan Scribner Reply 01. Apr, 2011 at 12:03 am

    I have a question. We have assisted REAL ESTATE Agents in negotiating their real estate transaction / short-sale. We do not have any contact with their client/consumer, just the agent and broker.

    I am licensed as a real estate agent, but again, have never advertised to the consumer, strictly word of mouth from real estate agent to r.e. agent.

    The agent pay’s me a fee to negotiate on their behalf.

    What are my requirements through MARS? Would I also have to inform the agents clients/consumers of these disclosures. We charge only the agent, never the consumer.

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    [...] about what real estate agents need to know to comply with the MARS rule, take a look at the free MARS video found here. In that video you will find out not only what you need to know about MARS but you will also find [...]