Thrill seekers, where are you??

To be perfectly honest, I expected the seller to prefer the all-cash offer, but I am thrilled she is accepting the following offer:Purchase price:  $40,000Down payment:  $2,000Seller Financing:  $38,000 first-lien mortgage fully amortizing over 15 years at a 5.0% fixed interest rate, resulting in monthly payments of $300.50The questions I have are as follows:-The purchase contract I am working on notes in the "Method of Payment" that there will be $2k down and a $38k mortgage to be held by seller.  

I remain convinced that there are worse ways to make a buck in real estate, far more offensive to God, than by giving superstitious people a little thrill.

I'd be thrilled to make $10k after all costs, and have had the experience of getting my first deal finished. 

I don't condone an investor exploiting a needy contractor and at the same time , I don't encourage contractors exploiting 70 yr old or some innocent  home owner who thinks he has to pay 66% before job starts .Maryland laws seem to be much better , so that's definitely a relief , Just like how you don't want to depend on " government/laws" to recoup your money , the home owner also will not be thrilled to approach or use one of the so called stringent laws you mentioned .

She wasn’t exactly thrilled at the idea (naturally).

Ken,That is a good idea as long as we can verify the info you are providing with a government official.Joe GoreJoe,Just for the record, I find that as insulting as you intended it to be and I suppose that gives you a cheap thrill so have at it.

I would think a lender would not be thrilled when I called.

As an owner of nine units, not nearly as many as a lot of folks on the website, but still a small amount, I would be thrilled if a property manager showed me a list of maintenance upkeep like this that he or she planned to utilize.  

I heard back from my real estate agent this afternoon and I was not too thrilled at the news she gave me.