Seller Financing in Brevard County
A Powerful Tool for Sellers and Buyers — Handled by a Law Firm
In the right situation, seller financing can benefit both the seller and the buyer. Our office assists clients who have already agreed to terms and need professional help preparing and closing a legally compliant seller-financed transaction.
We work with sellers who are ready to transition out of ownership — often landlords, investors, or people who own their home outright and are looking to downsize — and want to generate steady income instead of a lump sum. We also assist buyers who are may not be able to use traditional mortgage financing or are able to make a sizeable down payment to the seller in exchange for an interest rate that beats the rate of a traditional lender.
More About Seller Financing
Why Seller Financing Works
Seller financing offers a unique financial win-win:
Buyers may be able to secure better interest rates than with traditional lenders, resulting in lower monthly payments.
Buyers also save by not having to pay underwriting and origination fees.
Sellers can earn more over time by collecting interest, often resulting in a higher net return than a lump-sum sale.
This makes seller financing attractive for long-term investors, business owners selling their business, sales between family members, and non-traditional real estate deals.
Compliance Matters
If the buyer plans to use the property as a primary residence, certain federal regulations like the Dodd-Frank Act may apply. We ensure that the transaction and documents are compliant.
If the property is not a primary residence (such as for investment or commercial use), we include the required terms and disclosures.
Finally, we need to ensure that the seller is protected in case of a default. We want to ensure that the buyer is paying property taxes, is not allowing for code violations to occur, and is keeping the property insured against loss.
What We Do
At Mangrove Title and Legal, PLLC, we are a real estate law firm offering full-service document preparation and closing support for seller-financed transactions.
Not only can we act as your closing agent and title insurance agent, but we can prepare a promissory note with terms you specify as well as create a mortgage that protects the seller in case of a default by the buyer.
If you are closing with another agent title agent, that’s not a problem as our attorneys routinely work in coordination with these agents, even if we are not handling the entire transaction.
Common Loan Types We Prepare
Every deal is different. We structure:
Fully amortized loans, typically 15–30 years
Balloon mortgages with final lump-sum payments
Interest-only or adjustable-rate loans
First or second mortgages, depending on existing liens
Flat Fees — Paid at Closing
We typically charge a flat fee for seller financing services. This is paid at the closing of the transaction, so there are no upfront costs to the seller or buyer. We provide clear estimates and guidance before work begins.
Tailored for Brevard County Sellers
While we assist clients across Florida, we are especially experienced with transactions in Brevard County. We are familiar with local recording requirements and customary practices. We commonly work with:
Landlords tired of managing property
Sellers seeking income over a lump-sum payment
Working with investors who are buying distressed properties and later retailing the property
Business owners or family members involved in sales to their partners or family members
What Happens After Closing?
After closing, the buyer begins making payments directly to the seller based on the agreed terms. We recommend that sellers work with a loan servicing company or designate someone responsible to manage collections and tax or insurance obligations.
If the buyer defaults, we can assist with legal solutions such as modification, collection, or foreclosure as a last resort.
FAQ
-
No. If the seller and buyer have agreed on price and terms, our law firm can handle the contract, documents, and closing without either party needing to hire a real estate broker or mortgage broker. If you do have a real estate broker, we will work with them to ensure we are keeping the transaction on track and preparing our work product for closing day.
-
In Florida, mortgage defaults usually require judicial foreclosure, which can take six to nine months - or longer. In some cases, we may be able to assist with a deed in lieu of foreclosure or modifying the loan terms.
-
Yes. Most seller-financed transactions require installment sale reporting and interest income to be reported. We recommend speaking with your tax professional.
-
Maybe. If your existing mortgage has a due-on-sale clause, you should review itcarefully before offering seller financing. Our office can help you assess your options.
Seller Financing Scenarios
-
After inheriting a commercial property, one seller was ready to step back from the responsibilities of being a landlord. Rather than sell outright, they offered seller financing to a real estate investor who brought a large down payment. The property was financed over 15 years at an interest rate more favorable than a typical commercial loan. The seller now enjoys a steady monthly income while maintaining flexibility and control over the transaction terms.
-
A longtime business owner decided to close her commercial operation after the passing of one of the business partners. The business owned the property outright and wanted to sell quickly without dealing with lengthy loan approvals. Seller financing allowed the business owner to close in under a month, avoid complex underwriting, and provide a competitive interest rate—much better than what the buyer could have obtained on the open market. This allowed the business owner to start her retirement while receiving a monthly income.
-
One homeowner was ready to move from a fully paid-off four-bedroom house into a more manageable condo. Instead of cashing out all at once, they opted to finance the sale directly to the buyer with a young family. This allowed the buyer to purchase without a bank loan at a more favorable interest rate, while the seller turned equity into a dependable monthly income stream.
Ready to Get Started?
If you already have a deal in place and want professional legal support to draft documents and coordinate a closing, we’re here to help. Start your intake form below or contact our office to discuss your goals.