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Updated almost 4 years ago,

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Bob E.
  • Queen Creek, AZ
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Selling with a 1031, Can I seller carry back a 2nd Mortgage

Bob E.
  • Queen Creek, AZ
Posted

We have on an offer for 20k over ask on our Phoenix listing (on the market one day) and the buyer is worried about the appraisal.  

We are selling through a 1031.  Can I offer to carry back part of the sale price if the appraisal comes in low?  I could find a friend to write the second and then buy it back from them after closing but it seems simpler if I can write it myself.  I do have cash if I have "fund" the sale" and take the note back.  TIA

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