GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Vendor Take Back


Synonyms:loan, private funding, seller assistance
Filed Under: financial-banking, mortgages, real-estate
Tags: banking, mortgage, realty
 

Definition of vendor take back

vendor take back
1. In order to sell a property, the seller will provide all or some of the financing to ensure the transaction.

Related Terms and Acronyms:

  • creative financing   An innovative or unusual way of structuring a home loan that allows the buyer to buy the house.
  • owner financing (O/F, OF, OWN)   A transaction in which the seller lends all or part of the money to the buyer.
  • seller carryback   A form of financing in which the seller of a property accepts a down payment and agrees to accept payments until the property is paid for.
  • vendor   The seller of a property.

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