Owner Finance Between Son & Mother

[Mary Eubanks]

Hi experts! I have a situation where a mom wants to sell her house to her son. She owes $77K on it. Will sell it to him for $285K. Due to the high interest rates and closing costs, thinking an owner finance would work best. Son doesn't have $80K sitting in the bank to pay off her home, and she will lease it from him over the next 2 years until he builds her a MIL suite onto his house. Any ideas on how to structure this so it works out for everyone?