Seller financing - balloon with creative extension option?

[Andy Whitcomb]

Hey guys! I'm negotiating with a seller on the purchase of a property that will be a BRRRR using short term seller financing to purchase. I'm planning to negotiate a balloon payment 1 year from closing, but I'd like to include in our contract an option to extend.

An obvious option would be something like 1pt per month (or some variation on that), which I've seen hard money lenders do, but I'm wondering if anyone has any other ideas on how this could be structured? The seller is an agent/investor with a fairly aggressive negotiating style, and will mostly likely push for an extreme (multiple points) extension penalty. So I'm looking for alternative strategies that I can offer in case he gets stuck on something too extreme.

Any creative financing experts have ideas on this?