Paying off sellers mortgage balance to use seller finance

[Jairus Wilder]

Hello, I have been talking to a gentleman who is considering selling me his property using seller finance. He does not own the property outright so I offered to pay off his renaming mortgage as my down payment then make monthly payments to him. Does anyone have any advice on how to structure this deal? Also, does anyone have any pros/cons of this. 

Thanks! 

[Sean Ross]

Have escrow handle it.

You bring XX to the table

Escrow pays off remaining loan balance.

You get deed of trust or something similar depending on the state.

You pay seller monthly or however you structured. 

Do not pay off his mortgage and then "buy" the property in a separate transaction .