How would you go about structuring a seller fianance? Or better yet how do you approach that option with a seller that only knows and understands traditional financing?
There's many, many ways to structure a seller financing deal - it just comes down to what you negotiate with the seller. There's a ton of resources on the site that will walk you through some of the most common scenarios.
As for approaching them, just ask - if they don't know what you're talking about, explain how it would work and see if they're interested.
"I'm very interested in buying your property - would you consider accepting a down payment and monthly payments with interest over the next 3 years, with the full balance due then, instead of the full price now?"
@Aaron H. thanks for the reply. Your right, before I ask I need to search BP, explore, and learn more. I just thought maybe there was a standard way of the process. Thanks again!