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
loan agreement, layaway

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,
  • One-time single-sum payment or payout.
  • An extra payment made to reduce a loan.
• Owner Financing (OF, O/F, OWN) — 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.