Newbie - Seller Financing questions

[Jean-Francois T.]

Hi, JF here.  I'm a newbie and need some advice re:seller financing. 

I have a former primary residence in a Top School District in NJ that I own free and clear (no mortgage). I've been renting out this property for several years and had various tenants. I am considering negotiating a seller financing agreement with the current tenants. The tenants (and potential buyers) are wealthy folks but get their income from abroad and wish to stay and raise their 3 children (7-10-15 year-old)  in the US in a top school district. So this is so far a good match for us, as landlords. 

Few questions in regards to seller financing: 

1- I have a Realtor with whom I have been working for years with this rental, and who would normally be involved with a traditional sale. With Seller financing (SF) however, what would be the role of the Realtor, and what would be a fair compensation for the Realtor in case I proceed with SF? 

2- There are a lot of resources on SF but it is a bit overwhelming, Can you recommend someone experienced in seller financing deals that I could consult with, to help me think about all the aspects? 

3- The fact that the buyer does not have their income in the US is a risk that I am fully aware of. However, the way I'm thinking about it is that if they fail to pay the mortgage, I'll get the house back so in my mind that mitigates the risk. Am I being too simplistic/naive here? 

Thanks for the advice. 

[Will Fraser]

Quote from @Eliott Elias:

If you have no clue how to work a owner finance deal use your realtor (if they know how to write up and oversee a seller finance transaction). Pace Morby has a lot of content on this topic. You will get the house back in your name if they don't pay, after a foreclosure. 

 True, but an important clarification:  after FORECLOSING, which is a much gnarlier pathway than evicting.

You might consider doing a lease-purchase-option with these folks, giving them a nice long runway of time to figure out how to qualify for traditional financing.  This keeps the title with you until they purchase and then if they found themselves not paying they would find themselves being evicted instead of foreclosed upon.