Seller financing 101

[Francesco Barbati]

Hello everybody!

I am interested in buying 2 properties, both FSBO and I'd most definitely need to use seller financing for one of them if not both. Both property are townhouses in community with HOW fee. My questions are:

1) How do I propose a seller financing option in a attractive way for the seller?

2) How do I structure the deal/contract?

3) What do I need in order to make sure everything goes smoothly? Lawyer for the contract, title company, what else?

4) Should I use a realtor for helping me out, since it is the first time I'd be buying an house?

5) Anything you guys learnt from past experience that I should or should not do?Any advice or hack I should know about?

Thanks in advance!

[Luke H.]

1) tell him you'll take over his headache and all they have to do is just wait for the checks. show him the amount he will make at the end of the loan term. Make it BIG BOLD LETTERS, try to add 9s, it is scientifically proven that 9s get people buying.

2) lots of free contracts online, keep it simple, or buy a contract online.

3) i would go to a title company for sure. that's really about it.

4)a realtor will want to get paid some how. i would say no.

5)make sure title is free and clear. if you are renting it out get good tenants in fast. keep an eye on cost, repairs, taxes, insurance. 

good luck