Dear Big J,
Seller financing may be an option that some sellers would consider in the present market, as there is a large inventory of homes for sale. If you are looking for seller financing because you cannot obtain conventional means of financing through a bank, then a seller willing to offer financing may want downpayment monies and terms that vary from what a bank may ask for (interest rate, length of loan,etc). Also, a seller who would be interested in finacing for you is someone not needing the immeadiate proceeds from the sale of their property to purchase a new home- They are holding the "paper" on the home, and will be paid off over time. Also, if you default on payments, then the seller can take the property back, and you will lose whatever monies paid the seller.
Not all mls listings that we Realtors have access to will state whether owner financing is available. We can however, contact the cooperating broker and ask them to communicate to their seller that we have a buyer looking for owner financing, and proceed from there if the seller is willing to entertain finacing.
I agree with my peers, contact one of us Realtors, as we would be happy to assist you.
Northfield, NJ 08225