Seller financing

[Minna Reid]

I'm about to put a property on the market. Owner is willling to finance. What is the going rate for seller financing? I was thinking 25k+ down, note at 10%. Does that sound pretty fair? I'll be asking 127.5K. for the property. It needs plenty of rehab. Not move in ready. Thoughts?

[Timothy W.]

Need more info. What's the value on the property? 10% is steep plus you're putting down 25k that you can't put into the "plenty of rehab". There'd have to be a benefit to the buyer for accepting those terms - something beyond looking for buyers who simply can't get financed. If they can't get financed on the buy - there's no way they'll get rehab financing.