During that time, I received a letter from the City of Lorain about some violations, including overgrown grass, missing handrails, window frames, and not pulling the necessary permits.

They should write you a letter explaining the error and that they are going to charge you the additional $400 now.

the seller has to trust that you / the buyer is going to make the payments and also pay the taxes and be a good steward of the property since that's their security on the loan.usually you'd put a balloon in, but i bought one deal where the numbers worked out for us to fully amortize it over 12 years. 

@Elias RamirezMail a letter to the property as well - must be getting forwardedBut as mentioned tax bills are being sent somewhere.

@Jesse Dominguez-Castelan You should also explore one of the quickest options to this situation - reach out to the seller financing provider and see if he'll extend the balloon a few more years.I did this in the past when my 5 year balloon was about up, it was a simple email checking if he was happy with the arrangement and would extend an additional 3 years. 

Just be aware that this adds another layer of complexity, and you’ll want to check with both your lender and a real estate attorney to make sure everything is set up correctly.When it comes to terms, owner financing gives you a lot of flexibility:Interest rate: You want something attractive to the buyer but that compensates you for the risk of holding that second lien.Repayment schedule: You can choose a traditional 15- or 30-year schedule, or go with something shorter if you want to be paid off sooner.Balloon payment: Many owner-financed deals include a balloon payment, meaning the buyer pays off the remaining balance after a set period (usually 5-10 years).

TIAErich your best bet would be to amortize it over thirty with a 5 year balloon. the issue with private lenders  vs. banks is private lenders use their money to lend and many times it may not keep up with inflation - so lending for that long does not make sense.

I got fed up and sent them several e-mails demanding a refund of my $5k but they kept ignoring them.I wrote letters to attorney generals in my home state and in Florida where Justin is from hoping that they would help me.

By my standard I suppose we can put a bold lettered warning at the top.

This is exactly what's going on.Ask them to send proof of funds or pre-approval letter first.