While most home sellers are paid in cash, this is not always the case. The word terms is generally used to describe any type of deal where the seller is accepting consideration other than cash.

In most cases this means that the seller is providing financing by taking a mortgage for a portion of the sale price (example - the buyer pays $100,000 in cash and the seller takes back a mortgage for $100,000 for a total sale price of $200,000).

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