Defaulting on Seller Finance

[Kiki Levin]

When negotiating a Seller Finance deal, can you insert a clause that states: Should I be unable to pay 3 months of the mortgage, you get the property back?

Is it more common to go for 6 months or maybe even 1 month?

I’ve never done Seller Financing but am trying to piece this all together.

Thanks for your help.

[Dan Barli]

@Kiki Levin have you consulted with a local real estate attorney on this? Depending on your state and laws, it may be worth your while to do so. You can have the seller’s attorney hold a deed in escrow in event of default. Or the seller can foreclose in the event of default. Do NOT let the seller hold a deed