Purchasing real estate is a complicated process and changes almost daily. Buyers and Sellers who attempt to represent themselves can run into problems from lack of knowledge or failure to do proper due diligence. In a market such as we are currently in, in my opinion it is smart to get a professional on your side. It most likely will make the transaction go much smoother, avoid future problems with minimal to no extra cost to you. Good luck.

My suggestion is that you retain a Buyer's Agent. In my opinion, most For Sale By Owner (FSBO) transactions go more smoothly when a Buyer's Agents are involved. A FSBO normally will be willing to pay the commission for a Buyer's Agent ; they are just trying to avoid paying for both a Seller's Agent commission & a Buyer's Agent commission. If you retain a Buyer's Agent, all of your questions can be answered by him or her.

advice: Hire a Realtor

More answers below:

who benefits more from this? - The seller if they get more money or the buyer if they get a better deal.

Sounds like they are talking about Seller FInancing... be very careful here, make sure you have an attorney read over everything. They could be "leasing" it to you with no ownership, they might not make their mortgage payments.... etc.

If you allow them to owner finance it then: can they default on their loan and lose the property and I have to move if I have not defaulted on the mortgage payments? Any advice, the answer is YES