PURCHASE AND INSTALLMENT SALEBACK Definition

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PURCHASE AND INSTALLMENT SALEBACK, in real estate, is a contract purchase of real property upon the completion of construction. The subject property is then immediately sold back on a long-term installment contract.

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FREDDIE MAC see FEDERAL HOME LOAN MORTGAGE ASSOCIATION.

BOA is Board of Auditors, Bank of America, Board of Adjustment, or Basic Ordering Agreement.

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