Seller financing and interest rates

[Account Closed]

If a motivated seller is financing me his house

Can he make me pay interest? Like 5.12% interest or 4.24 interest?

[Kevin S.]

@Account Closed it depends on what is written in the contract, generally charging interest is something a seller-financing deal CAN (not must or must not) have, it just depends on what the seller is looking for. Some sellers want a higher sales price but won't charge interest, some will have a lower price but also charge interest, etc. it all depends on what you and the seller negotiate.