Legal Question in Real Estate Law in Florida

for sale by owner

i am selling my 2nd residence, I have an outstanding mortgage on this property but want to sell it using owner financing....i have it insured in my name. How can new owners get property insured in their name? Mortgage requires that property be insured in my name....whatcan new owners do to protect their interest?


Asked on 12/01/04, 2:33 pm

1 Answer from Attorneys
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: for sale by owner

What your are trying to do is creative financing rather than owner financing. You are attempting to use the your existing financing, which is probably due on sale, to finance the sale.

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Answered on 12/01/04, 4:45 pm


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