What does carryback loan mean?

carryback loan meaning in Law Dictionary

loan by which a seller agrees to finance a buyer to be able to complete a property sale.

carryback loan meaning in Business Dictionary

financing made by a seller to a buyer to finance part of the cost. As an example, a buyer who was not able to get a sizable sufficient home loan to acquire a property may get a carryback loan through the seller in order to make within the huge difference.