Real Estate Glossary

What is Seller Carry-Back?

A seller carry-back is a type of financing in which the seller of a property agrees to carry the financing for the buyer, rather than the buyer obtaining a loan from a traditional lender. This means that the seller acts as the lender and the buyer makes payments to the seller rather than a bank or other financial institution. This type of financing is often used when a buyer is unable to qualify for a traditional loan or when the property is considered to be non-conventional.