§453 · Printable Worksheet
Seller carryback worksheet: would I say yes?
One page. Fill it in with the buyer's term sheet and your CPA.
Seller Carryback Worksheet: would I say yes?
Goldstein & Co. · Educational worksheet, November 2026 · Seller: ______________________ Property: ______________________ Date: __________
| 1. The gap (numbers from the buyer's term sheet or escrow) | |
|---|---|
| Price I need (net, after costs) | $ |
| Buyer cash down + new first loan | $ |
| Gap = carryback I am being asked for | $ |
| Gap as % of priceSmaller is easier to say yes to. There is no universal rule; this is your line. | % |
| 2. What protects me if the buyer stops paying | |
| Lien position | ☐2nd deed of trust / mortgage ☐other: ________ |
| All debt ahead of me + my note, as % of appraised valueThe lower, the more room to recover after a default. | % |
| First lender allows a subordinate seller note? (get it in writing) | ☐Yes ☐No ☐Not asked yet |
| Personal guarantee / extra collateral | ☐Personal guarantee ☐Cross-collateral ☐None |
| Buyer credit, financials and reserves reviewed by me or my advisor | ☐Yes ☐No |
| Insurance, property tax and senior-lien default notices sent to me | ☐Yes ☐No |
| 3. Note terms | |
| Interest rate vs. the IRS applicable federal rate (AFR) for this termLook up the current month's AFR (IRS Revenue Ruling, published monthly) and write its date: ________ | Note rate ______% AFR ______% (note rate at or above AFR) |
| Term and payment type | ______ yrs ☐Interest-only ☐Amortizing ☐Balloon in year ____ |
| Late fee, default interest, cure period | |
| Who services the note (third-party servicer or escrow) | |
| 4. Tax check (with my CPA, not from this sheet) | |
| Depreciation recapture is taxed in the year of sale, even on installment payments | Estimated recapture: $__________ |
| Installment obligations over $5 million outstanding (§453A interest charge) | ☐Under ☐Over ☐Farm (exempt) ☐Ask CPA |
| Cash at closing covers the tax due in the year of sale | ☐Yes ☐No |
| 5. My answer | |
| ☐Yes, as written ☐Yes if the buyer adds: ______________________________ ☐No, price instead: $__________ Advisor (CPA / attorney) reviewed: ____________ Date: ________ | |
Educational only; not tax, legal or financial advice. Insurance and annuity products are offered through Goldstein & Co. LLC dba Goldstein Insurance Services; annuity guarantees are backed by the issuing insurer's claims-paying ability. Questions: Hans Goldstein, EA, NPN 20602398, 213-414-2808.