Saying YES too easily in a seller finance negotiation can really hurt you. You must learn to say NO when it is in your best interest to do so.
You may never sell another property in your lifetime where you are NOT cashing out. So, if you are willing to provide the financing and carry the note for the next 10, 20 or 30 years:
- Say NO to little or no down payment
- Say NO to an interest rate below 5%
- Say NO to someone unwilling to share his credit history
- Say NO to someone with a shaky, recent work history
- Say NO to anyone your gut tells you is the wrong person to buy your property
Say YES when the terms are right, the person feels right, and your gut says let’s move forward.