Owner financing with large down payment

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I have a buyer that is wants to put down 250k on a 300k sales price and owner finance the remaining 50k over a 10 year period. Negotiations are in process and it appears the deal will most likely happen. My question/advice I am asking for is would the best way to do this deal be a traditional owner financing with the 250k being the down payment? Or if anyone has other creative contract ideas I am all ears. Thanks

Welcome to BP!

In this transaction, I strongly suggest you not get "creative" !!!

Use a standard note and deed of trust prepared by an attorney. 

Make sure the buyer has the ability to pay, income to debt and job history. Get a credit report, but tell the borrower it's a formality requirement, not an underwriting matter so much......but, your buyer needs to be free of judgments and pending legal notices as your seller could come up in a second position.  Have your attorney do this.

I'm assuming the property is owner occupied and the seller is exempt from Dodd-Frank.

Get a mortgage servicer involved to collect payments and the loan servicing requirements, the seller will get a check from them that shouldn't bounce! LOL

Yes, it's 250K down, balance financed. Having the payment date on the day of settlement will make settlement easier. 

Might consider too how much the buyer has left, it is not a good idea to allow someone to dump all their money down, regardless of the temptation to take it, they need reserves. 

Compute closing costs, you may need to net out costs and reserves and finance a bit more, that's a better way to go. 

Also, have your broker look this deal over! Good luck :)