New Maui MLS rules are not designed to help sellers in short sale…

Our board recently decided to have all offers submitted on short sales trigger the active status to pending on the listing in the Maui MLS system even though escrow isn’t opened and the seller may still be allowed to accept other offers till their lender approves one per the listing and sales contracts.

This doesn’t protect the seller as many times multiple offers are needed to get the lender to approve the short sale, buyers of short sales are often fickle and drop out prior to lender approval and a host of other reasons.

So if you are a buyer looking for Maui short sales, you had better hope your agent knows of this and diligently checks and calls on the pending sale short sales too.