Owner financing deal

[Jeremy Marek]

I have the opportunity to purchase a 4 flat property through owner financing. The seller PREFERS to do owner financing, as opposed to me getting a loan on the property or paying cash. Does that seem odd? I have looked at quite a few deals, but this is the first time someone has specifically requested owner financing.

Some background: My agent has worked with this gentleman for many years and claims that he wants to do a deal like this for tax purposes (as opposed to receiving a lump sum through cash or  a traditional loan). My agent originally listed the property, but lost it due to it being listed too long with him. The listing is currently with another company. The numbers do seem to fit my criteria for a cash flowing b&h property, so I do not want to just walk away because it is different than other financing options.

Should I assume that doing owner financing, the seller would want full asking price? Are owner financed deals generally a better deal for the seller or the buyer?