Seller finance information

[Kyle Carter]

Hello BiggerPockets community!

I would like to learn more about seller financing, I see a lot of information on the internet about seller financing but honestly I am just confused.

I know what seller financing would involve in regards to me (the buyer) having to pay a interest rate set by the seller and the monthly payments also set by seller.

But what are the benefits of seller financing a property? For me as well as the seller.