When people use the term "property manager" they are typically referring to a third party who manages rental property for another.

This is what makes a loan officers job difficult -- estimating the third party fees from the beginning (they will get actual costs once in process).Hope this helps!

So let's say that you've got a house for sale and you accept a buyer's offer contingent upon the sale of a property they own.Then you get a cash offer from another party wherein their Realtor tells you that in your state, if you, the seller, gets a cash offer, then Buyer 1 has 72 hours to come up with their money or lose their contingent offer.Not getting anywhere looking this up, so BP is the go-to info machine.Something sounds off about this.....?

I feel this reasonable to balance the interests of both parties. 

You mention "other means to clear clouds" and that is a VERY good point that you can find prior owners or interested parties and have them sign off on their rights by giving you quit claim deeds etc.

Also, even though a party can be thrown anywhere, party groups are more likely to book 3-4-5 bedroom places vs.a 2 bedroom. 

It is much cheaper than hiring a third party.  

From what I've read, the quicker these parties get a call the more likely you are to get the deal. 

That said, specifically what makes you want to pay a 3rd party for plan "compliance"? 

You would go back on forth via counter until an agreement is reached between both parties and then formal documentation.