Please give me some Seller Financing Talking points & Other Ideas

[Alexis Zion]

Hi All

2 Questions 

#1

I am meeting with a potential seller tomorrow to talk about buying her 4 units building. I am going to ask if she is open to financing me with a 5-10% down payments

She is going to ask me what that entails...

I want to talk intelligently about how the process of selling financing works and the people who would be involved. So my question is What are the steps and who is involved in seller Financing?

Step ?

1. Agree on a Price

2. Sign Contract (not sure which one)

3, 4, 5, , and 6

I have no clue. Details please

Please tell me what to say so I can speak confidently.

#2

Also , if you have other ideas of how I could structure a deal like this...let me know 

Thanks

P.S. Who would be some 3rd parties that could collect/process the monthly payments and send it to her, and end of the year statements. All that Detail stuff 

[Michael Evans]

Read these articles:

http://www.investopedia.com/articles/mortgages-real-estate/10/should-you-use-seller-financing.asp

http://www.nolo.com/legal-encyclopedia/seller-financing-home-sales-30164.html

http://www.realestateproarticles.com/Art/35649/264/Owner-Financing-How-Does-it-Work.html