Documents needed for owner financing in Florida
I am relatively new land investor who has only done cash deals so far. I am now interested in selling some of my properties through owner financing, but I'm not totally sure about the how the process works and what documents are needed. Can anyone who sells their land through owner financing in Florida share what documents are needed for a financing deal?
Sean Webster I've always used an attorney to close the first seller-financed deal in a new state. Once you've got a solid attorney-reviewed template in that state, you can use it again and again for future deals... but you still want to get a credible set of eyes on that first one.
Every state has different legal nuances that need to be accounted for, and you don't want to wait until your 10th, 50th, or 100th seller-financed deal to figure it out. You want to get it right the first time and build off of that. Even if takes a huge bite out of your profit on that first deal, it's still a good investment to make sure you're getting it right.
Seth Williams Thanks, Seth. What you're saying makes a lot of sense. One of the reasons I've been putting off seller financed deals is because I didn't want to make a mistake that I would end up paying for down the road.