What do I need to know about Seller Financing?

[Jairo Rincon]

I have a property that I want to make an offer on, and I'm considering negotiating for seller financing. The property has been on the market for some time and I have watched the asking price drop over ther course of 3 months. Before I make an offer I have some questions about seller financing since this will be my first attempt at it?

1. If I go through my realtor how do they get paid since I'm not using a lender?

2. If I don't use a realtor where can I go to have a contract written up?

3. Are the closing cost more or less?

Any information will help. I want to make sure I understand want I am offering before I jump in. Thanks again BP!