Finance
In South Dakota, a 'short sale' in real estate occurs when:
AA property sells within 30 days of listing
BThe lender agrees to accept less than the full loan balance as payment in full when the property sells below what is owed✓ Correct
CThe seller keeps part of the sale proceeds in escrow
DA buyer pays cash without financing
Explanation
A short sale occurs when a lender agrees to accept less than the full mortgage payoff amount when the property sells for less than the outstanding loan balance. Short sales require lender approval and are used as an alternative to foreclosure.
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