Seller Financing Help Needed

[Larry Lee]

We were approached by a buyer with a seller financing offer.  We have no mortgage on the property.

10% down payment

6% interest amortized for 30 years but with a balloon payment due at the end of five years

We'll be taking a loss with the offer price but with the 6% interest for 5 years, we are about break even.
Our biggest concern is if they default, we don't know anything about the foreclosure process. 

Someone had mentioned we can sell the private note.

Appreciate any insight.