Having the seller carry a second is not a problem for the first, as long as their business with you is finished and the loan has closed.

Quote from @Jared Haxton: Hi BP Community,I own a 2-bed/2-bath condo in Prescott, AZ (near Embry-Riddle Aeronautical University, hospitals, and medical facilities), and I’m exploring selling it via seller financing.

funds only go into interpleader after months of sitting in escrow. the court just does not hand the money to the seller either.. if not agreed upon the funds go to the state etc.

Yes, I have done that several times, both as a buyer and as a seller.

The seller is offering seller financing at 2% interest with a 9-year balloon.

Once the sellers accept the offers.. 

Quote from @Guillermo Perez: Does anyone have experience with seller finance?

There’s nothing special about the seller financing terms here IMO, unless you can’t get a conventional loan of course but if that’s the case the balloon payments create a high risk for you and you shouldn’t do it anyway.

This is the only property we’ve ever seller financed, in case that clears up any questions you have about Dodd-Frank compliance implications.

The seller is offering seller financing at 2% interest with a 9-year balloon.