Seller Carryback

Definition

  • A form of financing where the property seller accepts a down payment and agrees to accept payments until the property is paid for in full.

Synonyms
layaway, loan agreement

Alternate Spellings
Transfer Back

Related Terms and Acronyms

  • Contract For Deed (CFD) Acronym,
    • An agreement for sale of property in which the buyer takes possession while making payments, but the seller holds title until full payment is made. Also called a land contract.
  • Down Payment Definition,
    • The portion of the purchase price a buyer pays, in cash, at the time the loan originates.
  • Land Contract (LC) Acronym,
    • An agreement for sale of property in which the buyer takes possession while making payments, but the seller holds title until full payment is made.
  • Lump Sum Payment Definition,
    • An extra payment made to reduce a loan.
    • One-time single-sum payment or payout.
  • Owner Financing (OF, OWN, O/F) Acronym,
    • A transaction in which the seller lends all or part of the money to the buyer.
  • Rent-to-Own (RTO) Acronym,
    • An agreement to purchase an asset after a series of rental payments.
  • Vendor Take Back Definition,
    • Where the seller of the property provides all or some of the financing in order to sell the property.
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