Seller has buyer who wants to do seller financing
So we have a seller who wants to sell his property for $49,000. He already has a buyer (the contractor doing the repairs on the property wants to buy it). The buyer will pay 10% down of our asking price, with an interest rate is 8%-10% and a term 10-20 yrs.
It sounds like he is wanting us to carry the note, but we are trying to have the seller hold the note, not us. Suggestions?