Owner/Seller Finance Monroe, LA

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I am looking to do a owner/seller finance on my 1st deal. The seller does own the home free and clear. The price is reasonable but I do not have the cash to buy the house out right. It's a 2bd/2ba home 1200sq ft. There is a tenant in the home now. I also would like to do a lease option with the tenant that's in the home now. I am trying to figure out what are the best terms to structure on a deal like this, as far as the owner/seller finance goes?

Originally posted by @Account Closed :

I am looking to do a owner/seller finance on my 1st deal. The seller does own the home free and clear. The price is reasonable but I do not have the cash to buy the house out right. It's a 2bd/2ba home 1200sq ft. There is a tenant in the home now. I also would like to do a lease option with the tenant that's in the home now. I am trying to figure out what are the best terms to structure on a deal like this, as far as the owner/seller finance goes?

 Ask the seller what they want. There are soooo many variations that it takes writing a book to explain them all. Find out what the seller has in mind. Get a title report. Use an attorney for closing.