And other ways to tell me you're not a qualifed buyer.

I need to talk about something that's been slowly eroding my sanity.

I run a brokerage in the outdoor hospitality space. RV parks, campgrounds, MHP — if it has hookups or fire pits, I've probably underwritten it. I love this industry. I love the people in it. I love connecting buyers and sellers and watching deals close that make everyone's life better.

What I do not love is creative finance gone wild:

I send a teaser. Maybe a one-pager. Maybe a full offering memorandum with financials, aerials, site maps, revenue by month, expense detail, cap rate, everything short of the owner's childhood diary.

And the very first response I get — before a single question about the property, the market, the infrastructure, the revenue trends, the deferred maintenance, the zoning, the expansion potential, the anything — is:

"Are they willing to seller finance?"

That's it. That's the whole email. Sometimes they add a period. Sometimes they don't.

No "is it on city utilites?" No "what's the occupancy by season?" No "any space for expansion?" Just five words that immediately tell me everything I need to know about where this conversation is going.

I'm not here to trash seller financing as a tool. I use it. I structure deals with it. When it works, it's genuinely elegant. But there's a massive difference between a buyer who understands seller financing as a strategic instrument and a buyer whose entire acquisition thesis is "I can get rich overnight buying an RV Park with no money down"

Let me explain.

The email that I'm getting too tired to respond to:

When "are they willing to seller finance?" is the first thing out of your mouth, here's what I hear as an owner:

I hear that you haven't underwritten the deal. I hear that you don't have capital lined up. I hear that you're hoping the seller will solve your financing problem for you before you've even determined whether the asset is worth buying. I hear that you're going to waste three weeks of my time, two of the seller's, and then ghost when it comes time to show proof of funds.

Harsh? Maybe. But I've done this enough times to recognize the pattern. The buyers who lead with seller financing and nothing else are never the ones who close.

The ones who close? They ask about the property first. They want to understand what they're buying before they figure out how to pay for it. Wild concept, I know.

Now here's the thing — seller financing is a real tool and us as owners are not against it

When it's structured correctly and brought to the table after a relationship is built, seller financing can be a genuine win-win. I've closed deals with it. I've recommended it to sellers. There are scenarios where it's not just acceptable — it's the smartest option on the table.

Here's when it actually makes sense:

The seller owns the property free and clear. Zero debt. They've held it for 15, 20, 30 years. Their cost basis is practically nothing, which means the moment they sell for cash, they're writing a massive check to the IRS in capital gains taxes. We're talking 20% federal plus state, plus potentially depreciation recapture. On a $5M sale with a low basis, that tax bill can easily clear seven figures.

Seller financing lets them spread that gain over time. Instead of recognizing the full amount in one year, they receive payments over 5, 7, 10 years and recognize the income as it comes in. It's called an installment sale, and it's one of the most straightforward tax deferral strategies in real estate. The seller gets steady income, often at a favorable interest rate, and delays the tax hit. The buyer gets terms that traditional lending might not offer, THEREFORE is able to hit the seller's asking price.

That's a real conversation worth having. That's strategy.

But — and this is the part most people skip — all you're doing is deferring their taxes, not eliminating them. The seller is still going to pay capital gains. They're just paying it over time instead of all at once. Which means if you're the buyer walking into that conversation, you need to understand installment sale mechanics, you need to be able to articulate why this structure benefits the seller specifically, and you need to demonstrate that you're a creditworthy counterparty who's actually going to make those payments for the next decade.

Because here's what's actually happening when a seller agrees to finance your deal: they're becoming your bank. They're trusting that you — a person they just met who opened with a five-word email — are going to successfully operate their life's work and send them a check every month for the next 7 to 10 years.

That's not a casual ask. That's asking someone to bet their retirement on you.

How to actually bring up seller financing without making me mute your email

Step one: Underwrite the deal first. Know the numbers. Have real questions about the asset. Show me you've done the work before you start negotiating terms.

Step two: Prove you can close. Bring proof of funds for the down payment. Bring your operating resume. Show the seller — and me — that you've actually run something before.

Step three: Frame it as a higher offer strategy, not a "can you please fund my dream" strategy. Walk in knowing the seller's approximate basis. Know what their tax exposure looks like on a cash sale versus an installment sale. Show them the math on how they net more over time with seller financing than they would cashing out and handing a third of it to the government.

Step four: Bring real terms. "Will they seller finance?" is not a term sheet. Come with a proposed structure — down payment, rate, term, amortization, balloon, collateral, personal guarantee. Treat it like you're pitching a bank, because functionally, you are.

When a buyer does all of that? I go to bat for them. Because that buyer just made my job easier and gave the seller a reason to say yes.

The bottom line

Seller financing is a sophisticated tool that belongs in the middle of a well-structured conversation — not at the beginning of a lazy one.

If you're a buyer in this space, please, I'm begging you: read the materials. Ask about the property. Do some basic underwriting. Then let's talk about creative deal structure.

And if you're a seller reading this wondering whether seller financing makes sense for your situation — it might. But only with the right buyer, the right terms, and the right advisor walking you through the tax implications.

Either way, lead with curiosity and "I've thought this through", not with "will they carry paper" before you even know the seller's name.

The broker will thank you. Your future seller will respect you. And you might actually close a deal.

— Ciara Salayandia, Park Marketplace