Seller financing terms

[Nick Childs]

Hey everyone!

I’m working on a deal and want to see if the seller is interested in seller financing, this will be my first seller financing deal and I want to come to the table with terms so we have a starting place that doesn’t just favor the seller.  

What are some terms you guys have had a success with when using seller financing. 

Thanks in advanced!! 

[Abby Link]

I wouldn't come to the table with terms. First figure out if seller financing is something that would work for him/her in the first place. Then break it down from there. "If you are open to terms, what is the longest amount of time you would be willing to give us?" Many time seller won't know so you can say, "Many sellers will give us a 30 year term or longer. Others need to be cashed out sooner. do you have a timeframe that will work for you?" same with monthly payment, and with no money down just straight up say "we typically buy with no money down up front, okay?" and I'm telling you most of the time they say "okay" unless they need the money for a very specific reason in which case of course you want to find a win win solution for everyone :). Also I would like to clarify that structuring a creative finance deal is going to vary with each house but the most important thing is making sure that you are finding a solution that HELPS the seller as well makes sense for you.