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If the seller is selling the property to us on contract, is that the same as "the seller is financing this loan?

I'm trying to correctly answer the question: " Do any uncommon situations apply?" If the seller is selling the property to us on contract, is that the same as "the seller is financing this loan?
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1 Reply
MarilynG1
Expert Alumni

If the seller is selling the property to us on contract, is that the same as "the seller is financing this loan?

Yes, if you are buying the property under contract with the seller, the seller is financing your loan.

 

Here's more details on reporting Mortgage Interest on Seller-Financed Loan. 

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