Mortgage

QWhat Goes Into A Seller-financing Agreement?
AIn any kind of seller-financing arrangement, the contract should include the loan amount, interest rate, loan term, amount of the monthly payment, and the late-payment fee. Other negotiable items include provisions on whether the loan is due when the property is sold and if the loan will carry a prepayment penalty. If you're a seller, you should consult a real estate attorney to help draft and negotiate the terms of the contract. If you're a buyer, have an attorney review and approve the document.