The owner is willing to finance. Now what?

[Zapata Tate]

The sellers are willing to finance. Now what? How do I make a formal offer without an agent? Get an attorney? One of the seller partners was the state real estate commissioner and has me major in town for as long as I can remember. Should I be concerned about that? These guys are in there late 70's and are ready to retire, and there are four more potential opportunities with them. Please advise.

[David Sisson]

I don't know, but following this thread. 

[John K.]

@Zapata Tate

If you are comfortable with all of the terms involved in these types of deals, then there would be no need to bring in outside help to negotiate this deal. If you are not, I would lean more towards an experienced attorney, rather than a realtor. These types of deals are very state specific, as it pertains to the paperwork that is needed. 

Don't worry about who they were or weren't, negotiate the deal where you need it to be and get them to agree. 

Once your paperwork is in order, you all sign on the dotted line and allow the title company to do what they do, then your done. 

[Tom Gimer]

Hash out the terms... purchase price, down payment, amount the seller will hold in paper, interest rate, loan term, amortization schedule, balloon (if any). Once these material terms are agreed to - many do this in a non-binding LOI - the seller (being in the business) can put the contract together.

Involving an agent on the acquisition of an off-market property you find and negotiate terms on is a waste.