Under a triparty buy-sell agreement, the construction lender will accept funding from the first party willing to repay the construction loan.

Question

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A triparty buy-sell agreement typically involves three parties: the buyer, the seller, and a third party, often a lender or escrow agent. The construction lender does not accept funding from just any party willing to repay the loan; instead, the agreement outlines specific terms and conditions under which the loan will be repaid, usually involving the designated parties in the agreement.

Under a Triparty Buy-Sell Agreement, the Construction Lender Will Accept