Sellers are carrying the note for 5 years at 5% interest.

One option is to have the buyer use a loan to buy out your existing mortgage, and then you can carry a second lien on the property for the remaining balance.

I work with a great lender team that can get you an initial ‘Pre Approval’ or letter of intent. 

Just remember that all the deferred gains and depreciation recapture will carry over.

I always send my proof of funds letter in with the contract too.I offer to use the agent with the whole deal if she brings me the deal so she gets her full commission. this is just my 2 cents .KC.

It's very likely, you got played  fair & square per the letter of the law but if it makes you happy to scream at the top of the mountain go for it.

@John CarrI recommend finding an accountant who specializes in real estate taxation and tax planning.

Carry on, invest smart, love people, have fun while doing it.

BUT, it would be subject to the existing $160,000 mortgage balance carrying a 2.75% interest rate.

I don't mind letters, just leave my phone alone when I'm waiting for important medical phone calls.