Unoccupied house offer

[Andrea Burke]

Hi all,

My questions are about "seller financing".

 There is a house in my neighborhood that has sat unoccupied for 10+ years since the owner moved out due to black mold. We are not seeing a mortgage on this house. We are thinking about making her an offer, and we are curious about seller financing.

* How does it benefit the buyer when the owner carries the loan? 

* How does it benefit the owner to carry the loan?

* We have heard that this is a way for the owner to avoid "Capital gains"?

* What happens if the owner carries the loan for us, and then we later sell the property to someone else? We know that we would then pay her off, but would she then have to pay capital gains? 

Cheers!