Terms for owner financing

[James Palassis]

Trying to get a ballpark on what sellers are getting in terms of owner financing these days. I've got a free and clear property that I'm ready to unload. I like the idea of owner financing, but just don't know what to ask for as far as interest rate, amortization, down payment...

Just spit-balling, I was thinking something in the neighborhood of:

20% down

8% amortized over 30 years

Balloon in 5 to 10 years

But that's an absolute shot in the dark. Any direction from SELLERS who have sold using owner financing lately would be greatly appreciated!

[Dustin Allen]

@James Palassis

It’s all negotiable and those don’t sound like terrible numbers.  8% is at or below most hard money lenders in my area so that would be attractive to some buyers.