Today I am going to share some MLS and PDS LINGO that may cause issues / further conversation on a file. While we recognize some can NOT be avoided in the interest of proper disclosure, it’s good to be aware that if we see this wording, we may need some extra time on the file:

o Fixer Upper, deferred maintenance
o Mold, flood, outdated electrical and plumbing
o Low Strata Contingency
o Rural/Hobby Farm/Animals
o Hording / pride of ownership
o Numerous out-buildings included in value (one only)
o Using value of anything other than House plus 10 acres when listing large acreages
o Heritage
o Grow Op (Remediated is ok)
o Anything that indicates the property may not be a Principle Residence, e.g. Vacation Rental, Air BNB, REVENUE, Investors dream! Tenanted at $2200 a month, Rooming house
Non-Property related flags or what we might see on a Bank Statement that can cause further questions / paperwork:
o Working for family members
o Buying multiple luxury items / large car loan payments
o Having several store cards, furniture loans
o Vague Paypal transactions
o Gambling activity
o Buy Now, Pay Later or Payroll Loans
o Recent Credit cards, multiple pulls on bureau (credit seeking)
o Large unexplained cash deposits
o Lack of Regular Savings / cash flow (e.g. living in O/D)
o Frequent NSFs on account
o Moving money around