Section 21: Pre-Construction Homes
Pre-construction homes may be listed under the Residential property type under the following conditions:
A. The list price must include the price of the residential structure and the lot.
B. Pre-construction must be selected from the Construction Status field.
C. The first words in the Public Remarks field must say “Pre-Construction. To be built.”
D. The first photo must be an image of the model offered or an artist rendering. If the image is different from the actual model, disclosure must be made in the Public and Realtor Only Remarks.
E. The Realtor Remarks must include a breakdown of when the commissions are to be paid.
F. If there is no contractual agreement in place between the seller listing vacant land and a builder that grants the builder an interest in the property, the listing may not be entered.
Pre-construction Definition: The listing is for a specific lot with a specific structure that could be built for a specific list price however construction has not begun. (Updated 11/2015)