Plain-English guide. Not legal advice. A lawyer should review anything you sign.
What is owner financing?
The seller lets you pay over time instead of getting a new bank loan.
In a typical sale, a bank lends the buyer most of the price and the seller gets paid at closing. With owner financing, the seller waits. The buyer pays a down payment, then makes monthly payments to the seller, usually with interest.
The paperwork is still a real debt. It should say the price, the interest, what happens if a payment is late, and whether a large balloon payment is due later. A handshake is not enough.
Owner financing can help a buyer who cannot get a bank loan today, and a seller who wants a monthly income. It can also go badly if the balloon comes due and nobody can refinance. Read the risks guide before you offer or accept terms.
This site lists the advertisement. It does not write the note, negotiate the price, or hold the down payment.