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» Seller Carrybacks

Posted on 11/10/2004
A seller carryback loan is a loan made to you by the seller when you purchase his/her property. Generally, the seller will take a small carryback and be in the 2nd lien position, with a bank or hard money lender taking the lion's share of the risk and taking the 1st lien position.

If you are seeking hard money commercial loans, count on having to put down a minimum of 20% of your own cash. The hard money lender will be able to fund up to 65% of the cost of the property and the balance can come from a seller carryback or other source.
Posted in Miscellaneous