If your transaction falls through and you need to get back on the market, we need a copy of the "cancellation of the contract" signed by all parties and we can put the listing back to active. There is a $25 fee to change the status back to active.
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Back on Market Fee Explanation
When a property goes under contract, we are required to update the MLS and initiate our state compliance tracking to ensure all processes meet MLS rules and state regulations. If the transaction cancels, we must revert the MLS status back to “active” and update our records accordingly. Each time this happens, the compliance process must be restarted when the property goes under contract again. The back on market fee helps cover the administrative work and compliance efforts involved in making these updates.
To learn more about how to avoid MLS violations, click the button below!