I need information about selling my home and financing part of it

[Bob O'Neill]

Hi Everyone,

I need a little advice. I am selling a single family rental property for $189900. I have an offer on the property for 185000 but it will be broken down to $165000 cash with me holding paper for the $20000 difference at 4%interest with a balloon payment at 5 years.

I never did this type of sale before..It this reasonable percentage rate and hold time? What would be a reasonable counter? What problems can I run into doing this type of sale?

Any information would be greatly appreciated..

Thank you

Bob