Seller Financing Opportunity within the Family

[Tyler C.]

I have a great opportunity to buy a condo with a couple family members from our grandparents for $50,000 with no interest (they want to keep in the family but need some monthly income). However we are looking to do seller financing with them over 5 years. What contracts are required and What are the basics of the contracts that need to be written up? Also, what type of lawyer would be best to consult on this type of investment? And finally what are the tax consequences to this from the POV of the buyers and sellers in this situation? This is my first investment property, so thanks for the help.