Moving from Baltimore to Florida with owner financing comes down to three steps: qualify first, sell your Maryland house, then close on the Florida home. You don't need a bank loan or a set credit score. You do need steady income and a down payment, and for many Maryland owners that money is already in the house.
What should you check in Florida before you sell?
Most people start by selling. I would start by finding out what you can buy. Selling a house and then learning you don't qualify is an expensive way to find out.
Before you sign anything in Maryland, look at three things in Florida. First, the insurance. Rates vary a lot by area and by the age of the roof, so get a quote on a real address before you make an offer. Second, the extra monthly costs. Ask about HOA dues and flood zones. Third, the area itself. Orlando, Tampa and South Florida are very different places to live, so spend time there if you can.
Your income matters here too. We qualify you on your income and your down payment, so tell me if your job is changing with the move. Remote work, a transfer and self-employment can all work. Income you only hope to find after you arrive is harder to count.
What do you do with the Maryland house?
You have two usual choices. List it with an agent, or sell it to a cash buyer.
Listing makes sense if the house is in good shape and you can wait. Baltimore has a lot of older houses, though, and old rowhouses and post-war homes tend to come with inspection problems. Think wet basements, aging wiring and roofs near the end of their life. If you are leaving town, managing repairs and showings from another state gets old fast.
That is when a cash sale earns its lower price. In Maryland, the company I point people to is Memorable Home Buyers, run by Malachi Cooper, who goes by Mal. He buys houses as they are across Baltimore County, Baltimore City, Anne Arundel, Harford and Prince George's County. You pay no commissions and no closing costs on your side, and he can close in 30 days or less, often sooner.
If you have an inherited house in the mix, he handles that too. Here is his page on selling an inherited house in Maryland.
Whichever way you go, get a payoff figure from your mortgage company first. What matters is what you keep after the loan, the costs and any back taxes.
How much should you bring to Florida?
Our homes start at $250,000 with no upper limit. The program normally takes 20% down on the negotiated price, and exceptions are reviewed one by one. Closing costs are typically 2% to 3%.
On a $350,000 Florida home, 20% is $70,000. Closing costs add $7,000 to $10,500. That puts you at $77,000 to $80,500 at the closing table.
Then keep some money back. A long-distance move costs more than people budget for, and you will have insurance to pay up front, a new utility setup and furniture that did not make the trip. Don't put your last dollar into the down payment.
Line up the dates last. Our closings typically take 30 to 45 days. If your Maryland sale can close on a date you pick, you can have the money ready for Florida without a long gap. A few days of room is smart. If you can, stay with family or rent for a short time rather than cut it close.
How this works with Sold With Financing
We work in Florida, including Tampa, Orlando and South Florida. Your deposit goes to a third-party title company or attorney in escrow, the deed is in your name at closing, and payments go to a third-party servicer with an online portal. Self-employed, 1099 and ITIN buyers are welcome. Start with owner financing homes in Florida, then see who qualifies. If you would rather stay close to home, we also work in the Baltimore area. Fill out the form below, put Florida as your state and tell me about the Maryland house.