Owner Finance Agreement

[Tom Palmieri]

I have not used an owner finance deal in the past and have a question on a possible deal I am working. The deal is an owner finance proposition for 10 acres of land. Asking price is 330,000.00. Owner wants 10% down at 6% interest for 24 months whern a balloon payment will be due. 

My question is, would this be amortized or straight 6% monthly? And, will I receive deed on the property so I can subdivide it?

Thanks for your input.

[Chris Seveney]

@Tom Palmieri

These are questions for the lender on how they structured it. I would not do a contract for deed I would want it in my name like a traditional closing