Financing Scenario

[Rob Jones]

I am planning on putting in an offer on a condo that is seller financing.  I will have to do some negotiating somewhere because the seller is asking a price that is $15-20k above the comps in the neighborhood.  He is offering to sell at $89k, $5k down payment(so $84k financed) at 5% for 15 years.  I plan on asking the seller, first and foremost, what about the deal is most important to him  If he says the term of 15 years, then I'll negotiate the selling price and rate.  If he says the 5% rate is the most important, I'll negotiate the sale price and terms.  If he says the sale price, I'll negotiate the rate and terms.  I already know that he doesn't want more than $5k for a down payment because he said it.  My question is, what if the seller says that EVERYTHING is the most important?  I've only spoken to this guy a couple times over the phone and I've already gotten the notion that he is pretty sharp.  Also, please keep in mind that if I bought the property at the seller's current price, terms, rate, and down payment, I would net $20 a month, which is not even worth my time.  The place rents at $850 per month.  Does anyone have any ideas?