If you are in the market to buy a home but looking to leverage your cash you may want to consider seller's who are open to doing a seller carry back. What exactly is a seller carry back? Instead of going through a traditional mortgage to buy a home the seller of the bank becomes the bank, in essence, and provides the buyer with an interest rate and terms for the amount that is to be borrowed. Typically, a certain amount of down payment will be required in order for the seller carry back to work, in most cases this can be anywhere from 10 to 20% of the purchase price.
Most of it depends on the sellers motivation and the amount of equity the seller has in the property. If the property is owned free and clear then you will have more negotiating room
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