What does "owner will carry" mean?

Answer by  Dontbugme (697)

"Owner will carry" usually has to do with the financing of a house. If an owner is anxious to sell or if they want to sweeten the deal, they may offer to carry some of the financing. For example if you have money to put down, they may finance the rest of the loan, thus avoiding another lender.

Answer by  sonorasun (174)

When buying something at a substantial price, the term "owner will carry" means that the owner will sell you the item via a loan that he makes. That is, instead of buying a house with a mortgage given by the bank, payments are made to the owner. Like bank loans, these loans charge interest.

Answer by  Majyk (115)

Owner will carry is a term usually used in real estate but could be used for any larger purchase. What it means is that the interest will be set by the owner and the payments will be made to the owner of what ever you are trying to buy. No bank or credit union will be involved.

Answer by  Carol37 (569)

When you read an advertisement from an owner selling an item it means he will finance the purchase. For example, if you answer an ad for a car that is $2000 and owner will carry, you will ask his terms. How much down, time period and interest rate. The owner is acting as the bank in the transaction.