Finance
In South Carolina, which of the following best describes 'seller financing'?
AA government grant to help sellers pay off their mortgage
BAn arrangement where the seller acts as the lender and accepts payments over time instead of a lump sum at closing✓ Correct
CA loan from the seller's bank guaranteed by the property
DA bridge loan from a private lender
Explanation
Seller financing (owner financing) occurs when the seller extends credit to the buyer, taking back a note and mortgage/deed of trust instead of receiving all cash at closing. This can facilitate sales when conventional financing is unavailable or expensive.
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