Legal Question in Real Estate Law in Florida

Contract for deed

I would like to know if selling a home with a contract for deed is a good idea. How does the buyer benefit? How does it work?

Thank you


Asked on 11/21/06, 5:08 pm

1 Answer from Attorneys
Frank J. Pyle Probate Attorney Throughout Florida

Re: Contract for deed

No, it is not a good idea. There are no benefits to the buyer, and not really for the seller either. It is legally treated like a mortgage, so the documentary stamps upon recording are the same as if done with a deed and mortgage, the seller is required to foreclose just like a mortgage in case of default, and the buyer will probably have difficulty finding the seller to sign a deed once you have made all your payments.

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Answered on 11/22/06, 9:46 am


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