House flipping first house

[Mujtaba Khan]

Hi all, I'm very new to the business, in fact this will be my first flip. I'm doing it in partnership with a good friend of mine. The property costs 90k cash and we only have 60k cash. Is there a way where we can ask the current owner that we can pay 60k now and then the rest in weekly installments? Is there a professional term for this? Also, since it's a private sale from my friends family member. Should we still hire a real estate agent? The seller asked what kind of paperwork they would need and I wasn't sure either. Any help would be greatly appreciated!