Having trouble searching for bank-owned or REO listings? 

The Special Conditions field option called “Transfer Due to Loan Default/Exempt from Property Disclosure” means the lender has completed the foreclosure and owns the property. Bank-owned listings should be noted in CarolinaMLS by selecting either “Transfer Due to Loan Default/Exempt from Property Disclosure” or “Undisclosed.” Selecting “None” would be a misrepresentation of the property. “Transfer Due to Loan Default/Exempt from Property Disclosure” is only applicable to bank-owned listings. Short sale listings are not exempt from the Residential Property Disclosure Act. Read more about how we define the options in the Special Conditions field.