What does it mean" seller carry back 10%?"?

in reference to purchasing a home

Answer:
basically it is a form of owner financing. seller carry back refers to the owner carrying the note for 10% of the purchase price.
No offense to the previous answerer, but if you don't understand "seller carry back 10%" you may not understand " the owner carrying the note for 10%".
It means that the seller is willing to loan you 10% of the purchase price if you come up with a loan (or cash, or a combination of both) for the balance.
This article gives you tips on negotiation:
http://biz.yahoo.com/brn/060909/19463.ht.

Articles about current market:
http://money.cnn.com/2006/09/25/news/eco.

The answers post by the user, for information only, BAnswer.com does not guarantee the right.

Other Questions and Answers:
  • If I have a vendor's lien on a property, which i owner finance.Do I have to pay a second lien off.?
  • What are the concerns when buying a new primary home, and keeping other as 2nd residence?
  • Do mortgage companies approve more loans in a slower market?
  • 21 and want to move out!?
  • I live in Massachusetts.I am terminating my half of my lease, my roomie is staying.?
  • What is the best way to publicize a free homebuyers seminar to the Hispanic community in New Jersey?
  • What is an Apartment in USA?
  • Help! What can I do with my Real Estate license and Notary Public commission in the state of California?