How to Seller Finance My Property to Soneone Else

[Randy Smith]

I own a home free and clear that is on the market currently. The home is likely a tear down and I’ve had multiple offers fall through because the numbers are very tight in the current market.

Question: I have a buyer that is very interested but just had hard money lender pull out. Is it possible for me to sell to this investor and act as the hard money lender? I.e. ask for $x down and x% interest on the remainder until he refies out or sells? If so, could a realtor right that contract or would I go to some other professional? Also, what fees could/should I charge? 10% down with 8-10% interstate on remainder?

[Jason Dillard]

@Randy Smith you can create any terms you choose. No need to pay an agent. Write terms of loan on contract and send to title company. I would escrow rehab funds and release as work is complete.