Fix and flip with seller finance

[Dennis Yosco]

Hey BP

Looking for a possible creative way to take down a deal.

I have a subject property were the offer has been accepted and I know I can get My Hardmoney lender to fund the deal. I’m considering purchasing the property or at least tying it up with the seller and once she vacates then renovate the property and list it. She is an elderly woman and I don’t want to take advantage of her. So what I’m looking to possibly do is offer her a set number with an escalation clause if the property sells for over a set amount. 

Has anyone done this before or something similar where they split the proceeds of a flip with the current seller. I will be able to save on closing costs and also on carrying fees associated with the hard money loan