Structuring Seller Financing

[Bill E.]

Hello all, I am looking into buying my second duplex and want to present seller financing to the seller, But I need advice on how to present this without scaring them off. I have never used seller financing personally. So my questions are how can I best present this to the seller. What terms should I be looking for, and lastly if accepted, how do I go about this process legally as far as who do I need to hire and have write this up?

[Michael Plaks]

@Bill E.

You want $XXX. I see. All I can pay for this property is $YYY. No? Well, I can actually pay your full price. Yes, your full price of $XXX. However, it will be over the next ZZ months. 

So you're getting $X per month, times ZZ months - see, here is your $XXX! Deal?

Note: terms is how you think as an investor. Most sellers think of monthly cash or lump sum.