Need creative ideas on seller financing

[Jeremy Dockendorf]

If you’ve got any ideas on how to make this seller financing work, please share. :)

My wife and I are looking at purchasing a large horse property for our next home. It’s not intended to be a cash flowing investment, but it will generate a little revenue as an equine boarding facility. We are working directly with the seller and he has offered to finance it. 

The seller said he would carry the 30 yr. mortgage at 5% with a balloon payment due in 5 years. He would want $100k down payment. We think we can get about $120k in proceeds from selling our current home. BUT the house needs about $45k in remodel to meet our needs. Any ideas on how to creatively finance that remodel into the deal or otherwise? Do we need to just try to convince the seller to take $75k down and pay cash for the remodel?

Appreciate any help!