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If a property is purchased subject to an existing mortgage loan, the escrow agent will ask the lender for a(n)________

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Final answer:

When a property is purchased subject to an existing mortgage loan, the escrow agent will typically ask the lender for a subordination agreement, which gives the new lender priority in case of default.

Step-by-step explanation:

When a property is purchased subject to an existing mortgage loan, the escrow agent will ask the lender for a subordination agreement. A subordination agreement allows the new lender to have a higher priority claim on the property should the borrower default on the loan.

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