What is a permitted sale?

A permitted sale is any sale or transfer of your property that meets the criteria outlined in your Option Purchase Agreement (your contract with Point).

Typically, when we receive your payoff request, we'll ask if proceeds are from a refinance or sale. If it's a sale, there are a few conditions that must be met, or Point may order an appraisal to determine the ending value of your home:

• It is listed publicly in the MLS and represented by a licensed real estate agent.
• It is considered an 'arm's length' transaction, meaning that the property is not being sold to a related party, that each party is operating in their own self interest, and with equal bargaining power.
• Additionally, you must not be in default under any provisions of the Option Purchase Agreement.

This criteria ensures that the listed property value is fair for all parties. Please see your Option Purchase Agreement for more details.