Seller financing? Tips, legalities and attorneys..

[Jesse O.]

hi all, I have a small home in Riverview, FL that I’m looking to sell. I’m not here to market, plenty of buyers / shoppers.  It needs a rehab before it can have traditional financing, so I prefer to sell it as is. 

I’ve had a few people ask about seller financing it, and I’d consider for the right terms. Anyone have any guidance on doing that? I’m curious on any restrictions (I’ve heard that dod  Frank could come Into play??), if you used an attorney to review the note? If you didn’t use an attorney who wrote the note, or what did you base it off of?

I’m thinking to make sense for me it has to be more than the cash offers, and a balloon after a few years tops. I know everything is a negotiation, but what is reasonable to ask for interest currently? The buyer asking for it is an investor and would refinance another property to pay this off eventually.