Potential deal with seller finance

[Tanner Bundy]

I just met my neighbors who own a duplex. They confronted me about selling their property by the end of the year. I asked him if they’ve heard about seller finance, they were able to understand the concept so they want 20% down and they’d be willing to set up payments, this would be my first time doing this so I’m just looking for advice for anyone who has done seller-Finance in the past maybe some pointers towards how to set up the note etc. thanks for advice 

[Nicholas L.]

@Tanner Bundy

what are your questions

[Chris Seveney]

Quote from @Tanner Bundy:

I just met my neighbors who own a duplex. They confronted me about selling their property by the end of the year. I asked him if they’ve heard about seller finance, they were able to understand the concept so they want 20% down and they’d be willing to set up payments, this would be my first time doing this so I’m just looking for advice for anyone who has done seller-Finance in the past maybe some pointers towards how to set up the note etc. thanks for advice 

 Use an attorney and title company to do all the paperwork. Leave it to the experts is my recommendation on drafting all the documents after the terms are agreed too.