Partial Owner Financing

[Matt Hendrickson]

I have an opportunity to buy a partially owner financed home.  The owner has said that he could finance $40,000 of the $230,000 asking price. I don't have any experience with owner financed purchases.  Could anyone help me understand how I could best take advantage of this offering? The one investment property I have is bank financed.

I'm not sure if a bank would let me take his $40,000 and use it as a down payment? Any and all ideas are welcome to best take advantage of this!

Thanks,

Matt