Seller Financing - Understanding

[Amanda Moskowitz]

Hi - Since I am getting started in investing, I understand the overall concept of seller financing, but not necessarily the structure.  Can someone explain seller financing and maybe use the example of purchasing a $100K property (with a $50K note) from a seller offering a seller financing structure?  How would I be protected?  Would the seller still hold the note and be responsible for payments?  Any advice would be great?  

Thanks!

[Brandon Croucier]

Typically the seller would have a note and deed of trust on the property.

You make the agreed payments to whomever is servicing the note.

Its the same as getting a traditional loan, just the holder of the note happens to be the seller.

If you make payments on time you will not have an issue.