The WA Association of Realtors Legal Assistance Hotline has issued their opinion that mutual acceptance is when buyer and seller have reached agreement. The approval from the lien holder is simply one contingency in the agreement.
Form 22SS discusses mutual acceptance, but it is only in regards to the "computation of time" and does not apply to this situation.
In conclusion, you do not need the lien holder's approval by April 30, 2010 in order to get the tax credit.
Let's get those offers in!
Please let me know if you have any questions.
To your success,
Ross Kilburn
Seattle Short Sales, Inc.
800-603-3525 (office)
888-860-1314 (fax)
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