Notes – Seller Carry – Tom Henderson Real Estate Note FAQs What is a seller carry back note? A seller carry back note is created when a seller finances part of a property’s sale price for a buyer. The buyer makes regular payments to the seller, similar to a traditional mortgage. This arrangement can benefit both parties: buyers may obtain financing when traditional options aren’t available, and sellers can potentially gain an additional income stream. How does a seller carry back note differ from a traditional mortgage? While similar in structure, seller carry back notes originate from the property seller, not a lending institution. This provides flexibility in terms and conditions, allowing for tailored agreements to fit both the buyer and seller’s needs. What is a security instrument in a seller carry back note? A security instrument safeguards the seller’s interests in a carry back note. It’s a legal document, recorded in the county recorder’s office, establishing the property as collateral for the debt. This instrument, often a Deed of Trust, allows the seller to reclaim the property if the buyer defaults on payments. What are the different ways to structure a seller carry back note? Seller carry back notes offer a wide array of structuring options. These include: Fully […]
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FAQ Notes – Seller Carry