Seller Financing Terms I want to offer for a Lakefront Motel

[Natalie Gelbke-Mattis]

I am in the process of purchasing a motel, and i have a lot stacked against me in terms of coming up with 20-25% (I only have 15% liquid as of today) , rising interest rates, and cash reserves that may be needed in a commercial mortgage.  I am trying to liquidate some properties, but this will be the slowest selling season.   I want to approach the seller with terms for a short-term bridge interest only loan while i continue to raise capital, stabilize the motel (it is extremely underperforming) and hopeful for lower interest rates.   Would I be able to get feedback on the terms i would like to offer?  I want to make sure they are not offensive.  Any feedback will be greatly appreciated.

Purchase Price		$ 549,000.00
Deposit (year 1) due 1/1/2023		$ 55,000.00
Deposit (year 2) due 1/1/2024		$ 55,000.00
Loan Term/Amort - 24 months/ 180 months - interest paid*		$ 37,044.00
*50% towards purchase price
Total cash to seller by 1/1/2025		$ 586,044.00
Terms  24 month / 180 amortization @ 7.5% interest with 10% down.
Full access and occupancy of property
full charge of day-to-day operations including all revenue generated
fully responsible for all expenses and maintenance of property
Allowed two inspections a year to ensure proper maintenance and operation of property
All improvements will be funded by buyer and 100% of net profit
Buyer to obtain permanent financing within 24 months
Deposits and 50% of interest as down payment
If permanent financing not obtained by buyer, all deposits, interest and improvements are non-refundable