What terms have you seen with seller financing?

[Kyle Soderman]

Currently looking at a duplex (owned free and clear) and the owner is open to seller financing. Listed for $146,000, rents at 1,840/month.

I am wondering what kind of terms people have received on seller financed deals? Is there any sort of standard when it comes to seller financing?

I know this is sort of a loaded question as the seller and buyer can almost agree on anything...but I would like to hear what other investors have seen on seller financed deals.

Thanks!

[Tom S.]

@Kyle Soderman  Most of the deals I've done in the past were 10-20% down, 5-7% interest rate, 30 year amort and a 5 year balloon.  Generally they were properties that needed a fair amount of repairs so the property wouldn't qualify for conventional financing.

Hope that helps,

- Tom