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Updated about 2 years ago,
Received an offer for me to seller finance at 0% interest?
I'm selling one of my properties and I have been open to the idea of seller financing since interest rates have increased a lot in the last few months, so I advertised that I'd be open to that. Today I received an offer at asking price, seller financing at 0% interest, 10% down, payments amortized at 30 years, with balloon paid at 15 years.
This was definitely not the terms I was expecting, particularly the 0% interest part. I can't seem to see how these are good terms at all. Is there something I'm missing here? Is there any reason I should entertain a 0% interest seller financing with balloon paid at 15 years?