Seller financing

[Mitch Ottoson]

Hello BP! After reading Brandon Turner's book on investing with low and no money down, I began looking for some ways to use creative financing. I found a property that is owned free and clear by a seller that I'd be interested in inquiring about seller financing.

The house is going for $335,000 so I was thinking of offering $5,000 down and a 30 year loan at 4%, for a monthly payment of $1,575. Are the any other costs that I would need to factor into my offer?

Additionally, what steps should I take as the professional investor to help the seller feel comfortable with this deal?