Creative Real Estate Financing
Market News & Data
General Info
Real Estate Strategies
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hospitable-deef083b895516ce26951b0ca48cf8f170861d742d4a4cb6cf5d19396b5eaac6.png)
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_trust-2bcce80d03411a9e99a3cbcf4201c034562e18a3fc6eecd3fd22ecd5350c3aa5.avif)
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_1031_exchange-96bbcda3f8ad2d724c0ac759709c7e295979badd52e428240d6eaad5c8eff385.avif)
Real Estate Classifieds
Reviews & Feedback
Updated almost 4 years ago on . Most recent reply
![Megan Hannah's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1232986/1621510487-avatar-meganh56.jpg?twic=v1/output=image/crop=1271x1271@0x39/cover=128x128&v=2)
Seller financing questions.
Hi everyone,
I am looking into my first deal in Portland OR, and have found some potential seller financed deals. This is all pretty new to me so I have some questions. The deal I'm looking at is and below are some of my questions. Any help would be greatly appreciated.
Purchase Price: $425,000
5 bed, 2 bath
4% interest only payments amortized over 30 years.
Balloon payment in 10 years.
- Are inspections recommended?
- How many days is a typical seller financed close?
- How do commission splits work if I am an agent and the home is under contract with another agent?
- Do I pay taxes to the seller or do I pay those on my own?
- Are the taxes separate from the monthly 4% payment?
- What tax breaks are available to me?