Seller Financing - Totally Inexperienced

[Matt Pritchard]

My wife and I have had our personal home on the market in Savannah, GA.  The buyer was pre-qualified, but the bank just declined them because one of them is a contract employee not salary.  

[Steve Vaughan]

@Matt Pritchard I just do a regular lease with a separate Option.  The option outlines the purchase price and expiration.  I usually charge about 3% in option consideration.  Get it notarized.

Another way may be to have the lease and be under contract of sale with a title company for the 2 years or whatever if they'll allow it.  The 3% could be earnest money.  Maybe check with a title co about that?  The earnest money would become yours (minus title work done) if she doesn't buy. @Brian Gibbons knows a lot more about delayed purchase agreements (and LOs) than I do!  Maybe he'll have a sec to chime in as well.  Thanks, B!