Wayne, with any real estate transaction, you are negotiating. Therefore you can ask for almost anything as long as it is legal. I believe the OWC is referring to "Owner Will Carry" or a Seller CarryBack.
Why not ask what you want as the home owner? I hope you are working with an experienced real estate professional.
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I am a Mortgage Banker in metro Phoenix, AZ. I lend in both Arizona and California where I will be pleased to help you. If you or someone you know is looking for financing options, please feel free to contact me or pass along my information. 623-340-0934 Korene Clopine-Seaman NMLS # 218520 KLCSLoanTeam.com We are Direct Lenders, WE CLOSE LOANS!