80yr Old Willing to Seller Finance Deal?...How Would You Structure?...

[Brandon Sturgill]

I just met an 80 year old man who wants to sell his home that he built in 1963. He is through with realtors and has a bottom dollar he will take for the property (understandably more than I can offer...he's proud of the place). The house has an ARV in the neighborhood of $150k with roughly $25k in mainly cosmetic upgrades. I don't mind offering a bit more than normal because this would be a convenient project and sell quickly...

The owner is willing to entertain seller financing...how would you structure the deal?...

2yr Note at $85,000 (owners bottom line is $125k, but we can negotiate)...

$5,000 down

Interest only payment for the term

Balance due in full at year 2....

Thoughts?