Finance
In New York, 'seller financing' or a 'purchase money mortgage' most benefits a buyer when:
AConventional lending rates are at historic lows
BThe buyer cannot qualify for conventional financing or the seller offers better terms than the market✓ Correct
CThe property is in a rent-stabilized building
DThe property is being purchased as a primary residence
Explanation
Seller financing is most attractive when the buyer has difficulty qualifying for conventional loans or when the seller can offer terms (interest rate, down payment) more favorable than what the market is offering. It also allows the seller to receive regular income from the loan.
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