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Updated 12 months ago, 12/06/2023
Seller Financing Negotiations - Need Help
A property I listed on the MLS had the listing expire after 6 months. Shortly after an investor reached out wanting to take the existing loan subject to and purchase my property at full list price but do seller financing. I'm open to it. We are not needing lots of cash right now and were looking to sell to wind down operations as we just had our 2nd baby and life is hectic so I think this should be consistent with our investing goals.
I've never been a part of this kind of transaction and have no idea how to negotiate. I assume I'll also need a lawyer at some point. Who would be good at advising us for this transaction? Is anyone aware of what is normal in terms of down payment, interest rate and term for the seller financing loan? Any guidance is greatly appreciated! TIA!!