seller financing closing costs
when purchasing a property via seller financing, are closing costs the same as conventional lending? I know I'll have to hire a lawyer to draw up the papers, a title company to make sure all of that is in order… but was unsure how to estimate my cost basis for the loan (down payment + closing costs?). Also, if anyone has done a seller financing deal in the past, how have you structured it? My broker advised a 5-year fixed term with a balloon payment, assuming I will refi with conventional at 5 years. Any advice or input is appreciated!