QUESTION
On the sale of a SFR - Primary Residence: Dose a Seller Carry back 2nd TD have a minimum term of 5 years in the state of CA?
Asked on Apr 22nd, 2016 on Residential Real Estate - California
More details to this question:
I need to present terms to my tenant that wants to buy my rental home and we thought I would carry bark a 2nd for 10% to help get them Approved for a Mortgage.
1 ANSWER
Estate Litigation Attorney serving Redlands, CA
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Price Law Firm, APC
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The terms of a seller carry back are negotiable and there is no requirement for a five year minimum carryback. The maximum interest rate is 10%.
Answered on Apr 25th, 2016 at 7:59 AM