Seller carryback financing is when a seller acts as the bank or lender and carries a second mortgage on the subject property, which the buyer pays down each month along with their first mortgage. It may also be referred to as owner financing or seller financing.
A For Sale by Owner sale is a purchase of real estate without the use of a realtor. Opening up an escrow in a For Sale By Owner transaction protects both the buyer and seller. It is the escrow company’s role to accept and follow the written purchase agreement.
A commercial escrow is one that involves the transfer or encumbrance of property other than residential. These escrow services involve transferring any type of property other than residential real estate.