Delaying 1st payment for 60 days with option

[Teresia M.]

I was listening to podcast #70 about subject 2 and seller financing.  I have a few potential deals with me as the buyer and seller financing.  I want to hold off payment for 60 days til I find a buyer and then start making and receiving payments.

@Grant Kemp mentioned paying a minimum option fee of $10 for 60 days to find a new buyer to contract in the podcast. How do you add that option to a purchase contract and what is better a land contract/ installment contract where a dollar for dollar is subtracted from principal or a standard mortgage agreement PITI? Please explain.

My deals seller financed would look like this as an example

85,000 Seller asking price 

1,000 down payment  

3-6% interest for 360 months

then I would resale

85,000-95,000

5,000-10,000 down

6-8% interest for 360 months

I hope this makes sense.  Thanks in advance for responding.