QUESTIONS? CALL: +1 (727) 847-2288
  • Meet our Staff
  • Attorney Profiles
  • Schedule an Appointment
  • Download Forms
  • Client Pay

Law Office of Roland D. Waller - Probate and Real Estate Attorney - New Port Richey, Florida

Law Office of Roland D. Waller - Probate and Real Estate Attorney - New Port Richey, Florida

Our firm takes a genuine interest in our clients, understands their objectives and meets or exceeds their expectations in a timely manner. We strive to provide superior legal services and maintain the highest standards of professional integrity.

T (727) 847-2288
Email: contactus@rdwaller.com

Law Office of Roland D. Waller
5332 Main Street
New Port Richey, Florida 34652

Open in Google Maps
  • Real Estate
    • Title Insurance
    • Contract to Closing
    • Contract Preparation & Review
    • Deeds
    • Buyer Representation
    • Seller Representation
    • Loan Modification Agreements
    • Mobile Home Title Transfers
    • Vacation of Easements
    • Rezoning
    • Mortgage & Note Preparation
    • Leases with Option to Purchase
    • Leases – Residential & Commercial
  • Probate
    • Trust Administration
    • Estate Administration
  • Estate Planning
    • Avoiding Probate
    • Medicaid Planning
    • Designated Health Care Surrogate
    • Durable Power of Attorney
    • Trusts
    • Wills
    • Healthcare Surrogate
  • Litigation
    • Condemnation
    • Boundary Dispute
    • Partition Action
    • Suit to Quiet Title
    • Defendant
    • Plaintiff
    • Eminent Domain
    • Land Use & Zoning
    • Contract Disputes
    • Evictions / Collections
    • Loan Modification
    • Foreclosure / Foreclosure Defense
  • Corporations
    • Preparation of Corporate minutes
    • Formation of Corporation or LLC
    • Partnership Agreements
    • Corporate Contract Preparation & Review
    • Purchase of Business
    • Sale of Business
  • Videos
    • About Us
    • Estate Planning
    • Guardianship
    • LLC’s and Corporations
    • Medicaid Planning
    • Probate
    • Real Estate
    • Real Estate – Buying
    • Real Estate – Selling
    • Real Estate – Foreclosure
    • Trusts
    • Wills
  • Testimonials
Tuesday, 11 February 2014 / Published in Real Estate, Videos

What Should I Be Aware of When Financing the Sale of My Home?

 

Video Summary

 

I am considering financing the sale of my home. What should I be aware of? Under Florida, you’re required to – when you sell your home you can take back a note in mortgage. And you cannot take back a land contract as they have in other states, because Florida is a judicial foreclosure state that requires notes and mortgages, land contracts, agreements for deed, to be foreclosed upon. So, the first thing you need to understand is, what’s the remedy in the event the person fails to make the payment?

 

The foreclosure process and the cost of going through a foreclosure is in the neighborhood of $3500.00 to $5000.00 with the filing fees and the court costs, and that’s if the matter is uncontested. The time period to go through the foreclosure process is estimated to be about nine months, if it is not contested. So, that should be a major consideration. I do not suggest that you do owner financing unless you get at least 20 percent of the money down. So, if you’re selling the property for $100,000.00, you would need to have a minimum of $20,000.00.

 

If you’re selling property that is of lesser value, you need to be aware of the cost involved as far as foreclosure and the time period, because you won’t be getting any money. Also, you would have to pay back due taxes if you foreclosed and took the property back, and it’s very hard to protect your property from vandalism or malicious conduct by the borrower if you start foreclosure. So, all these should be considered as to how much of a down payment you should receive before you consider doing the owner financing. I’d be happy to talk to you about what kind of interest rate you should be able to receive, and as far as owner financing is concerned. You cannot circumvent the foreclosure process by escrow and deeds.  You cannot do land contracts and not record them and simply tear them up and have the people removed, since Florida is a judicial foreclosure state.

 

So, if you’d like to explore owner financing, give me a call at 727-847-2288.

FEATURED VIDEOS

  • How Do I Safeguard Protect The Assets Were Left Behind?

  • What Laws Or Other Factors Are Considered When Distributing Assets Within The Trust?

  • Why Would I Need a Disposition Without Administration?

  • Who Else Has Access to The Trust?

  • Is There A Time Limit For Probate?

  • What Are My Duties As An Executor?

  • Is The Previous Power Of Attorney Still Valid?

  • How Do I Get My Deceased Parents Annuity?

RELATED VIDEOS

About Us About Waller education real estate Waller
SUGGEST A VIDEO TOPIC

SIGNUP FOR NEW VIDEO NOTIFICATIONS

Keep up to date with our videos. We will notify you of any new video added via email.

Quick Links

  • Buyer Representation
  • Contract to Closing
  • Deeds
  • Leases w/ Option to Purchase
  • Leases – Residential & Commercial
  • Loan Modification Agreements
  • Mobile Home Title Transfers
  • Mortgage & Note Preparation
  • Contract Preparation & Review
  • Rezoning
  • Estate Administration
  • Trust Administration

Our Misson

“We Care”

Signup for our Newsletter

GET IN TOUCH

Tel: +1 (727) 847-2288
Fax: +1 (727) 848-4183
Toll Free: +1 800-304-2288
Email: contactus@rdwaller.com

Law Office of Roland D. Waller
5332 Main Street
New Port Richey, Florida 34652-2509

Open in Google Maps

  • Legal Terms
  • Website User Agreement
  • Privacy Policy
  • Legal Notice
  • GET SOCIAL
Law Office of Roland D. Waller - Probate and Real Estate Attorney - New Port Richey, Florida

© COPYRIGHT 2010-2022 RDWALLER.COM

TOP