Announcements  11/05/2014
 

RSC Rule Clarification regarding “To Be Built” Listings
(All excerpts are from the PPMLS Rules and Regulations – Appendix E)

Detail on listings:
Lots:
Each separate vacant lot in a subdivision or listed subdivisions must have a unique lot or parcel designation and must be separately listed on the listing and listing input worksheet. Sales information on each separate lot must be submitted to the PPMLS. No listing for a home or building plan or builder model shall be accepted unless associated with a specific lot or property. The PPMLS has the option of creating a separate builder inventory section in the PPMLS database.

To Be Built:
The PPMLS will not accept plans for residences or buildings without a designated lot or site, nor listings of builder models unless each model listed is to be erected on a designated lot or parcel in the form shown and the listing specifies what utility, tap, development and infra-structure fees must be paid to any utility or government entity which are not reflected in the listed price and/or what utilities systems are not included in the price. A specific builder must be identified in any To Be Built listing entered into the PPMLS. In addition, the specific builder identified in the listing agreement and/or the PPMLS must either own or have an exclusive written option or other agreement to purchase the designated lot or site from the owner. Participants are free to accept those non-PPMLS types of listings to be handled outside the PPMLS as exempt listings under Section 1.3

Construction Status Definitions, Photo/Images and Banners

Detail on listings:
Construction Status Definitions:
To Be Built
The lot and home purchased together but ground has not been broken on construction. A specific builder must be identified in any To Be Built listing entered into the PPMLS. In addition, the specific builder identified in the listing agreement and/or the PPMLS must either own or have an exclusive written option or other agreement to purchase the designated lot or site from the owner. The primary image may be a rendering or a photo of a completed model. The primary image must include a “To Be Built” banner prominently displayed on the image. The “To Be Built” banner may not contain any identifying colors or logo shapes. The only authorized colors that may be used for the banner are white, black and gray. Or, the primary image may be a photo of the lot in which case a To Be Built banner is not required.
Under Construction -
The lot and home were purchased together and construction is underway. The primary image may be a rendering or a photo of a completed model. Or, the primary image may be a photo of the lot showing any stage of the build of the primary structure. The rendering or photo must include an “Under Construction” banner prominently displayed on the image. The “Under Construction” banner may not contain any identifying colors or logo shapes. The only authorized colors that may be used for the banner are white, black and gray.
New Construction -
home has already been built but never sold. Primary must be exterior photo of the primary structure. Banners and/or renderings are not permitted.
Pre-Sold -
The lot and home were purchased together and the home has been built. The home was sold or under contract at the time the listing was submitted to PPMLS. The primary image must be an exterior photo of the primary structure. Banners or renderings are not allowed.
Existing Home (Re-Sale) -
The home has already been built and previously sold. The primary image must be exterior photo of the primary structure. Banners or renderings are not allowed.

Photo/Image Fines and Sanctions

Detail on Listings:
Photo/Image/Rendering:

  1. Primary and additional images will be displayed without:
    1) Any overlay, graphic or text, except the RSC watermark, or if applicable the “To Be Built” or “Under Construction” banner.

  2. Summary of Violations - SANCTION FOR PRIMARY IMAGE VIOLATIONS
    1) Two warnings will be sent.
    2) If the correction is not made within the allotted time, the listing broker will be assessed an automatic fine of $100. 3) A "Photo Not Available" image will be uploaded to replace the non-compliant image. If a compliant image is not submitted within 7 days, of the fine, and the listing is currently in the ACT, RGT, UND, UCSS or PEND status the listing will be WITH-temporarily withdrawn from the PPMLS until a compliant image has been uploaded.

Updated Photo Rules grid
Construction status:
To Be Built:
“To Be Built” banner must be prominently displayed over the primary image.
Under Construction:
Primary image may be a rendering or photo of a completed model and must include an” Under Construction” banner prominently displayed on image. Or the primary image may be a photo of the lot, or the frame, or any subsequent states of the build.
New Construction:
No banners, no renderings. Primary must be exterior photo of the primary structure.
Pre-Sold:
No banners, no renderings. Primary must be an exterior photo of the primary structure.
Existing (Re-Sale):
No banners, no renderings. Primary must be exterior photo of the primary structure.

REPORTING SALES:
6. Reporting “To Be Built” Sales:

  1.  A vacant residential lot marketed as a future to-be-built home site may be listed in the PPMLS under “Residential” and/or “Residential lots and land”. A specific builder must be identified in any “To Be Built” listing entered into the PPMLS. In addition, the specific builder identified in the listing agreement and/or the PPMLS must either own or have an exclusive written option or other agreement to purchase the designated lot or site from the owner. However, the sale of the property must be reported in the PPMLS according to the actual property (that is, land or land and improvements) purchased at closing. For example, if a lot is sold and closed prior to the construction of a home (regardless of future plans) then the sale will be reported as a land sale and only the sales price of the land can be reported. If a “To Be Built” listing was submitted to PPMLS as a Sold/Closed listing but there is no recorded sale of both the improvement and land together as Real Property, the listing will be deleted from PPMLS.

  2. If a home is built on the lot prior to closing and the sales prices include both the land and the improvements then the sale will be reported as a residential sale including both the land and improvements. In addition, if the property is listed in more than one category it must be reported as sold in the appropriate category and the other listing category status must be cancelled.

 

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