How does Seller Financing work!?

[Dulce Beltran]

Hey BP! I’m looking to purchase a property with Seller financing. For Instance, purchase price $550K with Escrow, Title, and Listing Agent fees. How is the promissory note look like and how do the fees get paid? Out of pocket for the Seller fees (Escrow, Title, and Agent). Sales a price $550K w/2.5% down at a rate of 4% with a balloon payment in 5 years.