Common use of CONTINGENCY APPLICABLE TO SHORT SALE Clause in Contracts

CONTINGENCY APPLICABLE TO SHORT SALE. Properties that are subject to a Short Sale shall comply with the disclosure provision set forth in Section 5.0.1 of these rules. Listings shall be marked “contingent short sale” if acceptance of offer is contingent upon third party approval. Listings shall be marked “pending” once all parties accept the offer and all contingencies are removed. Short Sale contingency or conditions of any term in the listing shall be specified and noticed to Participants within the next business day.