My seller is willing to help finance the purchase of his commercial real estate. What is the difference between an outright sale and a contract for deed?

If you are buying a piece of real estate – whether it be commercial or residential – on “contract for deed”, “installment sales contract”, or “rent to own”, you are ordinarily not receiving legal title to the property at that time. In those situations, the seller retains legal title to the property until all payments are made, and at that time would
execute some form of deed on the property to you as the buyer. In those instances, we can assist you with creating agreements to escrow the deed and providing for protections for the equity you are acquiring in the property. In an outright sale, the seller conveys the property to you by deed at closing. In those instances, the risk of obtaining title is
reduced. If a seller wants to help finance the property and you want to obtain legal title at closing, we can help create a promissory note and a mortgage to secure the repayment of the loan.