Owner's Financing for a small RV lot

[Braner Dantas]

Hello all, 

I have a small RV lot near Orlando, FL that someone wants to buy. The deal is 7K as a down payment and he is asking for the remaining 11K to be owner's financing. I am willing to do it because I actually want to learn more about this type of deals. 

Based on my research the best way to go ahead would be to get a promissory note with the terms of this contract. I understand I also have the possibility to sell this promissory note to a third party. 

Any advice here? Am I on the right track? 

Thanks guys.

[Aaron K.]

You are on the right track but you might want to talk to an attorney to cover yourself, you might also consider requiring a notarized signature on the note.