Probably a Stupid Question

[Minna Reid]

How exactly does seller financing work? When would it be a good choice?
For example, let's say I want to sell my condo to the people who rent it, rather than evict them to put it on the market. They have bad credit and probably wouldnt be able to get a mortgage on their own, but would likely want to buy my condo if they could. I'd like out, but dont have a great deal of equity. Would seller financing be a good option in this situation?