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Can anyone explain exactly what this means.  There are several explanations on Google, however; I prefer to go to the experts in this forum.

 

Tags: 206.125, 24, CFR

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Fallow this link, http://www.city-data.com/forum/real-estate/1239650-property-being-s... there is a lot of good information there.

In a nutshell it is a reverse mortgage and insured by HUD, when listed it has to be an arms length transaction. Seller wont make any repairs, but those required by local municipalities, HUD or VA.

Thank you Jose, I will check out the link. Received a listing, that requires me to put that verbiage in the MLS information.

I guess it is from RMS

 

Yes, it is.
I have two with them, in my case the appraisal was high, they are hard to negotiate, the listing price is the only acceptable price. Other than that they are a very good company to work for.
Funny you should say that, my BPO came out $20,000 below the appraisal.

This is a Code of Federal Regulations citation which can be searched for at http://www.gpoaccess.gov/cfr/retrieve.html.

Thank you Crystal.

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