Escrow & Title
In Maine, a 'subordination agreement' in a real estate transaction means:
AA seller agrees to reduce the sale price
BA lienholder agrees to let their lien take a lower priority position relative to another lien✓ Correct
CA buyer waives their right to an inspection
DAn agent agrees to reduce their commission
Explanation
A subordination agreement is a contract in which a lienholder (such as a second mortgage holder) agrees to allow their lien to be subordinate (lower in priority) to another lien (such as a new first mortgage).
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