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I don’t want to carry back financing because if the Buyer defaults then what?

For Commercial Real Estate…

I don’t want to carry back financing because if the Buyer defaults then what?

Fantastic! You get to sell the property again and make more money. If the Buyer defaults, and you have properly served the Buyer notification of the past payments not being paid, you can foreclose on the Buyer. There will be legal fees to pay for this process and to get the property back. It will also take some time. The benefit is you get to sell the property again and you get to keep the original down payment from the Buyer that defaulted, plus whatever payments the Buyer has made.


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