Final answer:
Confirming the existence and conditions of an existing mortgage is imperative for a seller providing self-financing for a property.
Step-by-step explanation:
When a seller is providing self-financing for a property, it is important for them to confirm whether there is an existing mortgage on the property and whether it contains any specific clauses or conditions.
This is because the seller needs to understand the financial obligations and potential limitations associated with the existing mortgage, as it can affect the terms and conditions of the self-financing arrangement. For example, if the existing mortgage has a due-on-sale clause, it might require the seller to repay the mortgage in full upon transfer of the property to a new owner.