Finance
A short sale in Vermont involves:
AA property sold within 30 days of listing
BA sale where the net proceeds are less than the amount owed on the mortgage, requiring lender approval✓ Correct
CA below-market transaction between family members
DA distressed auction sale
Explanation
A short sale occurs when a lender agrees to accept less than the full mortgage balance as payment in full, allowing a homeowner facing foreclosure to sell the property. Lender approval is required.
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