Creative/Seller Financing Deal
Im interested in doing short term seller financing as the buyer, on a five unit commercial/residential building. The seller is also interested in being creative. Is there a best way to structure this deal? when the seller has a current commercial loan in place? I dont need seller to finance for very long, I just need some time to finish up stabilizing a current MF project I have going. Do you think his bank would be open to me assuming his loan? Its a local bank and the balance is small, were talking about only a few hundred thousand purchase price for me.