Owner financing - Being the bank.

[Vic B.]

I have a long term tenant that has asked me to sell a house to them on an article.  I have never done this and was thinking a five year balloon note.  The house is 140k. Should I get a down payment?  Are there any forms or contracts on this site to help me set this up? 

Looking for how to proceed on buying a house and then holding the note with a fair interest rate...

Thanks

Vic

[Eric James]

You'd need to own it free and clear.