Agency (alternative)
In Maryland, when a property is listed as a short sale requiring lender approval, the agent must:
AGuarantee the lender will approve any offer
BDisclose to buyers that the sale is subject to lender approval, which may take significant time and may not be approved✓ Correct
CRefuse to show the property until lender approval is obtained
DPrice the property at the outstanding mortgage balance
Explanation
Short sale listings must disclose that any accepted offer is contingent on lender approval. Buyers should understand the process can be lengthy and the lender may reject or counter any offer.
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