Am I crazy for asking this?

[Kim Durst]

I just signed a purchase agreement yesterday, $305k. The seller is financing the deal until I sell my other home. We are hashing out interest rate and terms. I am interested in an amortized 30 year term with a 5 year balloon. Seller has offered this at a 5% rate all the way down to 4.5% depending on how much cash we put down.

Here's the crazy  questions/statements......I want to pay LESS interest. I'm feeling under education in this arena and wondered if someone may have a great negotiating strategy. 

My goal is to try to pay this loan in full within the 5-10 years, depending on what my current home sells for however, I need the protection of a 30 year term payment just in case. What can I present to the seller today to sway her to consider lower or zero interest? She is open to negotiations. 

[Jay Hinrichs]

usually a seller carry deal your paying top of market or over market .. you don't usually get a great deal on price and get seller financing.. unless its a distress situation.. 

But I have financed many a rental properties to buyers with zero interest I just did one middle of sept.

I run PV and then come up with my return.. so for me 30 months divided by loan amount.. has a PV of a 15% interest rate.  so I start there.. and what I like about these that I do for investors who buy these rentals from me.. is that they NEVER default.. and it forces them to own an asset in 30 months free and clear and they are sending me Christmas wishs as opposed to minimum down maximum leverage and never get a property paid for..

so in my mind if you can hack it.. offer zero interest 10k a month payments.. and then run a PV value to the seller showing how his mortgage can be sold at a 15% yield to a an investor buying a note.