Nov 30
Hi, let's assume there is a deal to buy a 6-plex. the seller agrees to a 10% Vendor Take Back (VTB).
does this in MOST CASES mean 1, 2 or 3 years loan from the seller or is it closer to 10, 20 or 30 years loan? I’m tying to understand how attractive those VTB deals really are - if it's just a 2 years loan then I can not pay it back anyway but if it’s closer to 10-20 years then it can really help close a deal. I'm referring to the 10% you get from the seller of course. THANKS
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