Seller Financing Deal!

[Sandra Febres]

Hello Bigger Pockets Family!

This is my 1st deal with sealer financing! I have a contract as a cash offer and now we renegotiated the price and the terms as seller financing. Need some help!

Do I just need a seller financing addendum? or do I need to cancel the original contract and re-do it as a seller financing deal?

Also need to know the wording you use in the contract to specify the terms of the deal.

Down payment. % per year, length of the loan, is that all part of the contract or just the promissory note? Any help will be appreciated!