How to do seller financing

[John Kuo]

Hi All,

I'm own a condo and the unit next door belongs to an old retiree. Through conversations, she is thinking about selling the unit through seller financing. She still owes money on the unit, though. My idea is to take over payment, give her some cash, then rent it to her until she's ready to move out. Anyone ever done something similar? All ideas are welcome Thank you so much!