Seller Finance Question

[Sean Iannucci]

I am acting as a listing agent for my friend’s quadplex. He received a seller finance offer after months of no activity and he is in a position that seller finance would work for him. The buyer will personally guarantee the note but wants to put the property into a land trust with an undisclosed beneficiary. The attorney at the title company says that he would advise the seller not to do the deal because the foreclosure process will be much more difficult with the land trust set up. The attorney says the only way he would advise in favor of seller finance is if the buyer puts the property in his personal name and personally guarantees it. The buyer is not willing to put the property in his personal name.

Is seller finance only viable for the seller if the buyer puts property in his personal name?

Do you see any way to make this deal work for both parties?

Notes: Property is in Florida and buyer is putting 30% down.

Thanks,

Sean.