Structuring a seller finance deal.

[Alexandra D.]

Hi BP! I am talking with an off market seller. She is trying to get rid of her SFR that is currently a rental. The lowest she is willing to take for the property is 69k, she thinks the property is worth 75k but based on some of the recent sales in the area it might appraise around 80k-85k depending on the interior condition. I was going to offer her the 69k if she is willing to do seller finance. She says the interior doesn't need any repairs and it is currently rented. She said the tenant has been there for 7 years and she pays $1000 every month, always on time. This will be my first deal. Can anyone suggest a resource on how to structure a seller finance deal and/or give suggestions for how to present it to the seller via verbal offer? I have to respond to the seller by Monday, November 28th. Thank you in advance!!