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What does subject to "third party approval" mean?

  • Question refers to 6 Ward St, Salem, MA 01970
  • August 07 2009
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Answers (1)

Hi,

Third party approval is a term to describe the process of approving a short sale from the bank. In this case the approval must be obtained from first mortgage holder and possibly a second mortgage holder or a home equity line.  These are the third parties they are referring to, and they are the ones that must approve the short sale.  Hope this helps.

Mark
  • August 07 2009
  • 1Yes

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