Commercial Multifamily Lenders with Partial Seller Financing

[Ryan Sajdera]

Hey All,

I have an apartment complex under contract that the seller is willing to carry back the down payment at exceptionally favorable terms. Does anyone have any commercial lender connections that will allow the seller to take a second-position lien against the property? I have one lender that is going to try. He says that its possible, but difficult to present to the board. I guess I fail to see where the banks assume any real risk in this. To me, the seller assumes all the risk since he's loaning in second position, so I don't understand why banks won't touch this. Can anyone help? This property is in Kansas. Thanks! 

Ryan