Seller finacing for sell by owner

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Seller financing can obviously have some perks as it offers an alternative to those that may possibly not be able to obtain a loan for credit reasons or due to the size of the loan being too small that no bank with provide a mortgage.

Though it's not always the case, expect for the term of your agreement to be much shorter than a conventional loan.  You are unlikely to get a seller to agree to 30 year terms with a reasonable interest rate.  Expect something significantly more accelerated over the course of a few years.  If near term cash flow is the goal, it won't be met in this scenario.

You might occasionally be able to structure something more favorable than a mortgage as far as interest rate or repayment schedule, but I believe that will rarely be the case.  Large down payments and balloon payments are relatively common in seller financing as well.