house on markert prior to posting message

[PiperDown]

The search function is disabled, so I will start a fresh topic.

I am currently in the process of being posted.  My file is with Brookfield, and my house is on the market.  However, my friend was just convinced from his Realtor to list his house prior to receiving his posting message.  ( they told him houses are taking up to 3 months to sell in this market, and he should get a jump on it )  Now, the Realtor has told him that in order to " protect him " they will insert a condition that he needs to receive his posting message before an offer to buy is finalized.

I told him I would be concerned that if he receives an offer ( even with his conditions ) before his posting message comes in that Brookfield could use that as grounds to limit his funding.  Is this a possibility ?

In more ways than one, I was always under the impression it is always best to wait for the message. 

Anyone with experience in this scenario ?

 

[CombatDoc]

My experiences with Brookfield are no posting message, no entitlements. None. Zero. Zilch. Nada.  Not a question of limiting entitlements, since a fraction of zero is zero. The posting message is the authority to start the Brookfield (painful) process.

I'm sure DAA or others with more knowledge will chime in shortly. I'm prepared to be shown wrong, but
IMO your friend should proceed cautiously.

 

[Jungle]

The search function is disabled, so I will start a fresh topic.

I am currently in the process of being posted.  My file is with Brookfield, and my house is on the market.  However, my friend was just convinced from his Realtor to list his house prior to receiving his posting message.  ( they told him houses are taking up to 3 months to sell in this market, and he should get a jump on it )  Now, the Realtor has told him that in order to " protect him " they will insert a condition that he needs to receive his posting message before an offer to buy is finalized.

I told him I would be concerned that if he receives an offer ( even with his conditions ) before his posting message comes in that Brookfield could use that as grounds to limit his funding.  Is this a possibility ?

In more ways than one, I was always under the impression it is always best to wait for the message. 

Anyone with experience in this scenario ?

Your friend was well-advised. It is common for people to list their house on the market with condition(s), and that has no effect on allowances or funding.
When you receive the posting message, simply have your realtor remove the condition. If the posting message does not come, remove the house from the market. This protection is your best protection in a case like this.

I've done this a few times, without any issues. Good luck.

 

[Tibbson]

I've taken the same action myself and as Jungle stated above it had no impact re Brookfield.  Just have the condition on the sale and remove it when the message comes in.  Mine's been on the market now for three weeks and no message but I know its coming.  Did the same last posting and no problems.

 

[PiperDown]

Good to know there would be no issues on his end.