Owner financing with a warranty deed

[Josh Barker]

Hey there, I’m in discussions with someone in Florida who is open to owner financing through a warranty deed. I’ve never done this type of transaction before, my only experience is with conventional home buying.

What are some things I should be aware of? They are looking for a down payment with monthly payments to the seller for 8 years. The house has a tenant in place until next year that Has to stay in place.

The whole transaction will be recorded with a warranty deed. I don’t know these people personally so I’m concerned that they will just take my down payment and disappear.

Any advice of warranty deeds or things to look out for since this is uncharted territory for me would be appreciated.