Seller and Buyer's agree to the conditions. Some sellers are using this tool to charge more for the property than they otherwise may. They may be concerned that the property would otherwise not appraise for the price and you can avoid an appraisal.
It is also important to remember that they are also able to foreclose on you if you are not current.
Most owners only offer owner financing for a few years so consider that the interest rates in the market are potentially going to be higher when you refinance at a later date.
Don't rush in to owner financing without contacting an expert.
DECORUS REALTY LLC