"Listing Price may not be sufficient to cover all liens, debts, or encumberances, subject to 3rd party approval" These words seem to cause confusion and a little trepidation amoung consumers. The wording appears on all short sale properties, and is there to give consumers and REALTORS® notice that the seller of record owes more than the property is currently worth.
Buyers looking for bargains not jargon, have had to learn a whole new vocabulary lately. Real Estate is a lot more complicated than it used to be.
SHORT SALES REQUIRE 3rd PARTY APPROVAL
The 3rd party is the lender or lenders who may have mortgages on that particular property.
They must agree as well to accept the price offered.
In order to lawfully sell a property in Florida it must have a clear title. Which requires the lender to release their liens against it.
A MORTGAGE IS A LIEN
UNPAID PROPERTY TAXES CAN BECOME LIENS TOO
IF THERE IS AN HOA-(Home Owners Association) THEY TOO MAY PLACE A LIEN ON THE PROPERTY FOR UNPAID HOA FEES
When a Property becomes insufficient in value to clear all debts against, it must be negotiated with the parties holding it as collateral.
This verbage is nothing to fear- it is giving the public notice that the property is a short sale. Meaning more is owned against it than it is currently worth.
While these deals typically take more time to negotiate and longer periods of time are required to get answers on offers, they DO offer unique opportunities to buyers with good credit to obtain a home at current market value.
A saavy investment and hedge against inflation for the future. Look at it as a long term investment and over time this will yield a respectible dividend.
If you need a translator, consult a REALTOR®.
NO SIGN UP REQUIRED! 
A REALTOR is a professional. Helping buyers everyday and understand the current problems Buyers face when trying to purchase a home.
Serving Central Florida- Specializing in Osceola County
Allison Stewart, Licensed Florida Real Estate Broker/ Associate. Member of the National Association of REALTORS® Member of the Osceola County Realtors Assocition
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