Finance
In Florida, what is 'seller financing' or 'owner financing'?
AThe seller pays the buyer's closing costs
BThe seller acts as the lender, accepting a mortgage note from the buyer instead of full cash payment✓ Correct
CThe seller finances repairs before the closing
DThe seller contributes to the buyer's down payment
Explanation
Seller financing (owner financing) occurs when the seller accepts a promissory note secured by a mortgage from the buyer instead of receiving the full purchase price in cash. The buyer makes payments directly to the seller over time.
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