Seller Financing, Loan Servicing, and Cost

[Khoa Ha]

Hi BP,

I have a question regarding seller financing. So we have a property that the potential buyer wanted us to carryback 50%. We contacted our escrow company and they say they can process the loan application through escrow. What I am concern about at this point is the loan servicing part of it. Let say if we do not service the loan ourself and hire a third party to service it. Does anyone know of a good loan service company? Also, typically how much do they cost? Let say the loan is $500,000 10 year at 6%. 

Thanks in Advance,

KH