Seller Carryback

A seller carryback is a financing arrangement in real estate where the seller of a property allows the buyer to finance part of the purchase price through a loan provided by the seller. Instead of requiring the buyer to secure a traditional mortgage from a bank, the seller agrees to "carry back" a note for a portion of the sale price, allowing the buyer to make payments directly to the seller over time. This can benefit buyers who may have trouble obtaining standard financing and can also provide sellers with a steady income stream.