Flooded basement, sketchy septic...seems like a great chance for Seller Fi - BUT!

[Paul Sherar]

I really could use some help on structuring an offer for a seller finance deal.  The house is on market, but seems distressed, shared septic with neighbor that has some on going issues and the basement apartment needs a full renovation from gut job.

Listed for 400k, which I can't imagine anyone going for that based on the septic situation.  I thought of offering 200k cash offer just to take it off the tired landlords hands but can't come up with that cash, so thought I could offer a seller finance offer of asking price with these terms. 0% interest, 15 year amortization (2000ishk month payment) and 5 year balloon. I don't think they have a mortgage to assume. It has been a rental house for several years.

I really don't know how to sell a seller on creative financing and don't even know if what I'm thinking to offer would be appetizing.  Would love help on this deal if anyone has some insight. Happy to offer more info in the DM, let me know! thanks!