Anyone have a seller financed mortgage they're willing to share?

I’ve looked in the document library and I don’t see a seller financed mortgage example. Does someone have one they can share?

My email is bruce at ableinspector dot com

Thank you.

What exactly are you asking here? Are you wanting a template for a contract or are you wanting the actual template for a promissory note. If you are wanting to put this under contract, there is very little difference in the contract from any normal contract. In a seller finance contract you just spell out the terms if they are already agreed upon. If you are looking to do a DIY promissory note, I would strongly recommend against that. It’s not very expensive to have a reputable lawyer do this for you and it will likely save you a ton of time, hassle, and screw-ups. I think the last one I did wound up costing $350.

Yes Charles, I already have it under contract. I just wanted to draft up the basic note for seller financing to send over to an attorney to have tweaked before sending over.

I had no intention of sending it over before having it looked at by an attorney.

I would just have them use their own template. This is a really simple document for them and they should have a good template that will work fine. Also, they will usually be able to get this done a whole lot faster if they aren’t dealing with a template they are unfamiliar with.

Makes sense, assuming they have a template. I’ll ask. Thank you.


It’s important to have the docs done properly if you have plans with the park or the note sometime down the road.

When the documentation is done right, many things go right.
And vice versa!

If you or the seller would like to get cash for all or part of the payments, we’d be willing to fund that.

Keep us posted,


Thanks Mike, I’ll definitely keep that in mind.

Believe it or not, she accepted my offer because I took the time to explain the tax benefits of seller financing. She had an all cash offer also.

Not to step on your toes Mike, but do not ever give your seller the idea that their note is marketable. If you put them on that path, they might just consult with a note buyer to figure out the best structure of the note. This means they will likely want a higher interest rate and recourse. Probably not going to hurt you now that you are under contract, but it’s not a great seller finance selling point for your next park. I have seller financed a few SFHs and I consulted with note buyers on every one of them. All of mine pay around 9% and have personal recourse.

When I purchased my community with seller financing we had our lawyers draw up a 30 page mortgage contract so I am guessing things are done considerably different in the US than here.


Point taken.

I should have said that somewhere within your note, you retain the right to purchase the note any time it is offered for sale. The exact wording I will not put on this forum, but you get the idea.

Thanks for pointing that out.

I think you give the sellers too much credit in seeking out note buyers.
They are park owners, not financiers.

Let them seek out any and all note buyers, as you have a protective clause in the note and mortgage to keep anyone else from YOUR note.

But that IS a risk.

@Coach62, could you please tell us more how you explained the tax benefits of seller financing to the seller? thanks!


Simple. The financed portion of the sale is tax deferred. They are only taxed on the down payment.