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One commonly underutilized tool in Monsoon is the Transaction Type field. This search option defines what type of transaction took place the last time a property was purchased. The Transaction Type field is one of few that is manually tracked and entered into the system, and because of that, only goes back to 2012. It can help provide more insight on the most recent sale of the property and could be valuable in choosing comparable property options within Monsoon.

Types of Transactions

  1. Non-MLS Sales
    3rd Party– Purchased by a 3rd party at a trustee sale
    NON MLS– Private sale outside the MLS
    Reverted-Property was foreclosed on and taken back by the beneficiary
    Bulk– Homes purchased in bulk
  2. MLS Sales
    Normal Sale-property was purchased with no peculiarity; financed, paid cash
    Short Sale– bank agreed to take less than what the property was worth
  3. Mixed (could be listed in the MLS or not)
    Bank Sale– Properties owned and sold by the bank aka REOs; a vast majority are listed on the MLS
    Flip– Properties bought and sold in a six month period
    New Construction– New builds
    Short Sale / Distressed– Property was in the process of being foreclosed when it was sold
    GSE– Government sponsored enterprise; sales through GSE mortgages i.e. Fannie or Freddie
Written by Chelsea O from ARMLS
Chelsea Oakland joined the ARMLS team in 2014. With her learning and development experience she knew she would have an impact on the company’s end goal to service its more than 37,000 subscribers.