I am negotiating an LOI and the broker is insisting it is market practice to secure seller notes. I do not believe this true but would love any resources to support my perspective:

Does anyone know what percent of loans have an unsecured vs secured seller note? Or any other resources that might answer this question?

***Update to original post: My specific question is: what have people seen when it comes to a Personal Guarantee from the buyer on the seller note? For context, sub 3M deal with a 10% seller note.

Definitely looking for outside resources if possible too!