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
- 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 - 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 - 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
