So, basically they have decided to sell the home and provide owner financing to you. In a sale everything is negotiable, so start asap and ask for everything you want. Be sure to negotiate the terms, Interest, down payment, length of loan, who pays taxes, insurance, etc. And how title is held during their financing. If you have poor credit this can in fact be a great way for you to become a home owner.. however if you have decent credit you should probably look into other traditional routes for home ownership... just my 2 cents. I own and have sold/bought using owner financing/lease options as well as with traditional financing.