Seller Financing ~ Buyer requesting

[Michelle McAlister]

Hi,

I’m selling my duplex for $168,500.  The buyer wants to buy as an investment property and is asking me to finance their deal.  I own the property free and clear.  They will pay full price with $8000 down.  I’m new to this as I’m usually the investor.  My question is, since DP is so low what should I charge as interest?  Should I use a loan servicing company?  Any thoughts or pitfalls to be aware of? Balloon payment/Terms? 

Thank you!

Michelle