Owner carry question

[Julian Diaz]

I found an interesting 3-plex that is requiring cash or owner carry.  The owner carry options is interest only for a year with 25% down.  My questions is how does this normally end after a year?  Is there any contract verbiage you use to protect the buyer?

I understand everything is negotiable but after a year will the banks see this as a refi? Or will I be required to put down the full amount in cash? I've looked at HML but don't think it will be better than the owner carry option in the long run with a traditional bank refi. Any experiences with these situations?

Julian Diaz