Seller Financing. Good idea?

[Bob Beach]

We're selling a few houses in Memphis, and we have interest (letter of intent), on one house that's requesting, "Seller Finance". They're offering a few thousand more than asking and will also pay agent fees. Our agent is not an expert on this type of deal but suggested a short loan term of 3 or 4 years and a balloon payment and written up by a lawyer.  I've always steered clear of anything like these offers. Has anyone done any of these types of deals?

Thanks for any knowledge on this.