A seller take-back is a type of financing in which the seller of a property agrees to provide financing to 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.
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What does seller take-back mean?
Related terms
Unrecorded Deed
Contingent Fee
Counteroffer
Contiguous Lots
Comparative market analysis
Queen Anne Style
Comparables
Accelerated Cost Recovery System
Subordinate Loan
Capital Gains
Low Density
Delinquent Mortgage
Administrator's Deed
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Use (In a Lease)
Buyer's Market
Escrow Agent
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