Owner Financing approach Long Island

[Tommy Kerwick Jr.]

So I was trying to find a category specifically dedicated to “owner financing” but couldn’t find it.

Who out there has any suggestions as to how to go about putting in an offer/speaking to the owner of a property you know is going to hit the market soon but hasn’t yet?

The house next to my family member is going to be hitting the market soon. The owner knows that I have interest in the property but we’ve yet to talk one on one. Any info has gone through my family member who lives next door. The elderly couple has recently passed away and the brother (who lives in Tennessee) of the woman has taken over the property.

I’d like to approach him with a seller financing deal but want to have everything in order before doing so. The home needs a lot of attention but could work out to be a great deal if bought at the right price.

How long of a term?

What interest rate?

How much of a down payment?

Any and all information from anyone who has successfully gone through this would be greatly appreciated.