Vendor take-back mortgages (VTBs) are increasingly becoming the WD-40 of real estate deals—lubricating transactions that might otherwise seize up.
With home prices still elevated, rates hanging tough, tighter lending conditions, and fewer sales, free-and-clear sellers are more motivated to extend VTBs.
According to commercial real estate lawyer Patrick Gordon of Blakes, the VTB terms that sellers use most include:
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