MRIS is adding different types of property types to Keystone.

This will help you quickly identify the property that you are looking for.

• Standard sale refers to a property which is available for sale without third-party involvement or approval.
• Potential Short Sale refers to a property that is underwater and the sale is subject to bank approval.  If the seller had been notified of foreclosure proceeding, select the foreclosure transaction type.
• Foreclosure refers to a property that is currently in foreclosure proceedings. Until the foreclosure proceedings are finalized, the seller still owns the property.
• REO (Real Estate Owned) properties are bank, lender or HUD owned.
• Other/Undisclosed should be selected when you do not have your seller’s permission to disclose the property as a distressed sale.

Go to MRIS’s Blog for the full story…..http://mrisblog.com/blog/new-distressed-properties-transaction-type-coming-soon/