Seller Carry-back (How to)

[Igor Messano]

Hi everyone,

Has anyone had experience with portfolio lenders and seller carry-backs where the seller finances the down payment? How common is it for portfolio lenders to allow this and do you have any tips on how to prepare for this type of lending? I am about to negotiate the purchase of a property where the seller owns free and clear and currently has the property rehabbed and just sitting without tenants. He is motivated to get some money in his pocket but I think he might be open to holding some of the debt.

If relevant, this will be in Philadelphia PA.

Thanks in advanced.