owner financing

[Todd Summers]

I am pretty sure I know the answer to this question but I'm going to ask it anyway. I was always taught there are no stupid questions only stupid answers. I currently have a 7 acre parcel priced at 55000.00 in WY I am trying to sell. A gentlemen on Craigslist reached out to me and asked if I could owner finance the property. I told him I could only finance $20000.00 of it (at 5% interest over a 5 year period) because I have an outstanding balance on the loan of $35000.00  if he could obtain a loan for the other 35000.00 I would be willing to consider it. He replied back saying he was looking for a 100% owner finance loan with a good faith down payment, we haven't discussed the percentage down yet. So here is my question: Is it legal, ethical, or even possible to owner finance a property that you don't own 100% outright? I'm assuming it isn't possible but I have no idea as I  am new to all of this. Any information provided would be greatly appreciated.