When a seller offers a buyer "carryback financing," the seller acts like a "lender" and receives the "note" and "trust deed" documents. Both are signed by the buyer. The "trustee" does not play a role in this arrangement.
These are questions that the above text answers:
1. What is carryback financing in real estate?
2. In carryback financing, who acts as the lender?
3. What documents does the seller receive in carryback financing?
4. Who signs the note and trust deed documents in carryback financing?
5. What role does the trustee play in carryback financing?
6. What is the seller's role in carryback financing?
7. What is the buyer's role in carryback financing?
8. How does carryback financing differ from traditional financing?
9. What is the purpose of the note and trust deed documents in carryback financing?