Need advice on selling - Buyer requesting seller financing

[Jeremy F.]

Hello Everyone!

I received an offer on a property I am trying to sell (was a month or two late from the peak and due to the market it is in I haven't gotten a lot of activity). They are offering at the price point I want however they want us to finance 20% over 3-5 years. We still have a loan on it so my primary concern is being in 2nd position on the loan and them having little skin in the game. The property still cashflows but I would still prefer to get out of it. I guess my primary question is, have you ever done or seen a deal that used seller financing that was able to take 1st position over the bank? Any thoughts on what you would do to make it work? They wouldn't do 10% seller financing. 

Thanks!