Seller financing in a building lot

[Stefanie Jensen]

I own a building lot out right. Someone would like to buy it and begin building in the spring. This guy wants to hold the lot until spring so he can get a construction loan once all the snow has melted. He would like to buy the lot from me now with seller financing, then pay me off next spring with his construction loan.  I've never done seller financing before, and I'm not sure how to structure it. The lot is $165,000. What's a good down payment and what's a typical interest rate for this kind of thing? Any expert advice would be great.