Considering to Offer Tenant Seller Financing

[Megan Elliott]

My tenant of four years recently mentioned she is interested in purchasing the home. While I wasn't planning on selling, the offer has made me consider seller financing - I own the home outright under my LLC. I am new to this arena but it seems like it could work out well for both of us. She has been a wonderful tenant and has paid rent on time every month, including through the pandemic. This would allow me to keep getting monthly cash flow, even higher with the interest, while not having a property manager. From my understanding, it would help her avoid closing costs. I currently don't have the desire to turn a sale into a new deal right now because I am super busy with my newborn and full time job. Does anyone have any recommendations or information on how to set up/offer seller financing? Any alternative ideas are also welcome. Thanks in advanced :)