Creative Financing Advice

[Fradel Barber]

Does anyone have experience with seller financing on an off market deal? I would really appreciate your input.

Potential property asking price 1.1mill

Looking to give $200k upfront and $5k per month for 15 years.

My question is;

Is this a good way to structure it? If not what other ways may be better or different?

Will I be able to do a cash out refinance? And at what point?

Who typically draws up the contracts for this?

Thanks so much in advance for any input!