Pros and Cons of Seller Financing

[Matthew Dovel]

Hey everyone, just learned about seller financing and it seems very intriguing. As the seller, it’s easy to see why you might want to do this and I’m consodering it for myself. However, I was just trying to put myself In the buyers shoes to think of why the he/she might want to do this. Would it be solely because the buyer has either taken out too many loans or does not have the credit etc in order to apply for the loan? From what I have read, it seems that most sellers are charging close to rates of a hard money loan with sometimes an even bigger down payment. Maybe I am just getting info from the wrong people. Also, If you have ever done seller financing, what were your rates for interest and down payment that you charged? Thanks for any input!