Ideas on how to finance a deal with an older seller?

[Sam Amir]

Hi BP,

My partner and I are talking to an older gentlemen (in his 70's) about selling his property. He's motivated to sell because his wife and kids are in a different country and he's looking to move closer to them. I checked property records and he owns the property outright as of last year. I was wondering if anyone had any creative financing strategies when dealing with older owners? 

Seller financing is an option, but if I was as old as he is...and to be blunt...I'd want as much cash as possible because I might croak soon! He was also a little hesitant on the idea of seller financing when we mentioned it.

Any ideas would be much appreciated.

Details on the deal:

-Would be a package deal, 1 3-flat and 1 SFH. Both properties are next door to each other.

-Phenomenal location

-We have about 10%-15% of purchase price in cash

-Condition of the property is well-kept, owner has a sense of pride. Would not need much rehab, just some light TLC

-He's a damn good negotiator (I can tell!)

Thanks,

Sam