Finance
What is 'subordinated seller financing' and when does it occur in Delaware?
ASeller financing that is superior to the first mortgage
BSeller financing (second mortgage) that is junior to the buyer's primary first mortgage from an institutional lender✓ Correct
CA seller's agreement to subordinate closing costs
DSeller financing that requires subordination to local property tax liens
Explanation
When a seller carries back a second mortgage to help a buyer close, it is typically subordinated (junior) to the buyer's primary first mortgage from a bank or institutional lender. The first lender has higher priority in foreclosure.
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