You will negotiate the interest rate with the seller, who usually is far more agreeable to negotiating than a conventional lender. However, keep in mind that sellers probably won't be willing to carry a loan for less return than they would earn if their money were invested in a routine conventional instrument.
I would always use a lawyer and an accountant to check the details of any Owner Financing.
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.
Owner financing rates are set by the seller but hopefully determined through negotiations with the buyer. One of the downsides to seller financing is that you can expect to pay above the going public rates.
All depends on Seller and Buyer's agreement. Some with very high interest rate due to is owner's financing. This could happen if the buyer's credit score is too low. If your credit score is good them you can negotiate with the seller in that aspect. Therefore, more than market offer.
The rates are negotiated between the two parties in the market. There is not a mandatory rate to establish. Same with the amount of downpayment required and period of the loan and frequency of the payments