Seller is willing to use creative financing to structure a deal with me?

[Ardin Cychosz]

Hello,

Seller is willing to use creative financing to structure a deal with me. We are currently looking at three types: contract for deed, seller finance, subject to.

The hurdle is, we both have no experience with special types of financing and have no idea who to talk to. We have questions and we appreciate any insight:
- Does anyone have any advice on how to structure and manage this deal and secure financing?

Thank you

[Crystal Smith]

Quote from @Ardin Cychosz:

Hello,

Seller is willing to use creative financing to structure a deal with me. We are currently looking at three types: contract for deed, seller finance, subject to.

The hurdle is, we both have no experience with special types of financing and have no idea who to talk to. We have questions and we appreciate any insight:
- Does anyone have any advice on how to structure and manage this deal and secure financing?

Thank you

 I can't answer how you will secure financing but I can address how we usually addess creative financing.  We reach agreement in principle with the seller on what we mutually want to achieve.  It will not be a formal contract or agreement but something where both parties understand the objective.  We usually draw it up in writing and share it with the seller and allow the seller to comment prior to sharing it with an attorney. Once we have agreement in principle we then have our attorney draw up something formally that the seller can share with his/her attorney if they see fit.  

Now I need to say we have a little bit of experience and can actually do it without an attorney  but I recommend, if this is your first one, that you take whatever you have agreed to in principle and have an attorney make it formal.