Seller Financing: If the Seller agrees, what's next?

[Brad Patterson]

Hello BP Geniuses, 

I am in the process of buying 2 apartment buildings from the same owner in Eastern Canada. This is my first multi-family purchase and each building has 12 units. My wife and I can get the financing from the bank for one but getting financing for both looks to be a stretch.

I want to propose seller financing to the owner for the 2nd building, if they agree I have no idea what to do next. I'm sure we would need a contract with the mortgage terms but what else? What is this process like?

Any help would be very much appreciated.

Thanks,

Brad