Updated almost 10 years ago on . Most recent reply
0% Seller Financing
Hello Guys,
I am working on a deal where the seller is willing to take payments over time. I would like to structure my offer as 0% seller finance, no money down. The property is free and clear, everything is paid off.
The property could rent for $2,000-$2,200. I am new to this and unable to analyze the deal and come up with the monthly payments that would benefit both, me & the seller. Also, what type of contract would you use? From my research, I saw that a land contract will be more suitable for this, but not sure.
The purchase price is $400K and would like to finance it for 10-15yrs, plus a balloon at the end.
Your input would be greatly appreciated!
Thank you for your time!
Regards,
-Percy