How is Seller Protected if they are in 2nd position?

[Jerry Zhang]

Hi,

If I buy a apartment doing a seller carry back, how do I explain to the seller how they are protected if they carry a 2nd position note subordinate to the bank?

The example scenario would be if I bought a $1M property, the bank is in first position and covers 800k of the property cost, the seller agrees to cover cost of down payment and covers 200k of the property cost.

Let's say we can no longer make payments on the property and it's foreclosed on. How do you guarantee the original seller that they will also get back most if not all their money. What guarantees they'll be made whole in simple terms?