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Home Buying
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Real Estate Buying and Selling
Real Estate Investing

What does owner will carry real estate?

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Wiki User
June 19, 2008 10:08PM

owner will provide 'seller financing" a purchase money mortgage. it could be either a 1st or 2nd mortgage. Seller is willing to provide some of the financing or all of it so conventional financing(banks) are not needed. You sign a promissory note with the seller an IOU a promise to pay.