Seller proposed their financing terms. Am I wrong?

[Michael Greer]

6 plex for sale. 

Asked a property owner if they would consider seller financing. They sent the following terms:

7.5% interest rate, 7 years, 25% up front.

I'm looking to lock in a cheap rate on an income producing property. Looks like he wants his money now.

Aside from the 5% cheaper down payment, I think I'd get better terms at the bank.

Am I missing something?

The only reason I ask is because this seemed so far out there that maybe I'm not where I thought I was.