Seller Financing and setting up a promissory note

[Joseph Kostigen]

Hey everyone. when you are trying to obtain a property through seller financing is the interest rate normally lower than a conventional loan?  what would be the steps to approach someone when trying to have them finance the selling of the property? any knowledge is greatly appreciated.

[Chris Seveney]

@Joseph Kostigen

Typically they are higher than conventional. There are opportunities to get it lower but in most cases it’s higher.