Family Member Seller Finance of Commercial Property

[Kelly Williams]

Hello

I am looking into options for purchasing a commercial property from a family member. It is a small commercial property (under $500k). The family member owns the property outright. My sister and I are looking into going into this investment together. We do not have the funds to put a substantial down payment down, however, the family member is willing to sell the property to us at roughly 50% of the market value. If the family member is willing, should we look into seller financing? I should also mention that we do not have commercial real estate experience.

Yes this is a close family member and the sale would essentially be a gift of sorts hence the low sale price. Any input would be much appreciated.