<prompt> Human: I live in South Carolina and currently own a single-wide mobile home in a nice mobile home park. Ive had it on the market since late January and it is currently listed at 26,400. My realtor sent me an email today asking if Id be interested in financing; if so, he knows someone who can put 5000 down and pay 1000 per month plus HOA fees. The interest rate is negotiable.Looking at the math, with a 5 annual interest rate, accrued monthly, the deed would be the buyers after 25 months, netting me about 29k.On top of this 1000 per month HOA fees, I make a pretty good living in a marketing career hence why I want to get out of the mobile home and get a nicer house. So Im thinking I can put a little bit down on another house, pay the mortgage and PMI with the 1000mo for the first two years, refinance after the mobile home deed is released to the new buyer, and get rid of the PMI, provided I am above the 20 appraisal value of the new house.One of my concerns is the simple risk involved here. I dont know the buyers credit, but how could they possibly afford 5k down and 1kmo plus HOA and Im assuming insurance, taxes, electricity, water, etc. yet not be able to get a mortgage for a different house? Then again, even if we go through 12 months, and they flop I will earn 16,000 on the house. This would allow me to reduce the price on selling the house again, subsidizing any losses with the 16,000 already earned.Obviously, Id have to look at the legal side of everything here to protect me from liability and so forth, but strictly from a financial and risk side, what do you guys think? Any advice would be incredibly helpful.Assistant: This is called seller financing. Its not that uncommon as a way to help property sell more quickly.Ask yourself though why this person is trying to finance through you. Is it because they cant get a 21K loan through the bank? Or because they dont want the hassle of it? My guess is the first. Usually the seller proposes this form of financing to move property faster, not the buyer.Run a credit check on the buyer, and make sure the contract has a clause requiring the buyer to maintain proper insurance. If both of these things are accounted for and the credit looks good, its a reasonable risk you can take. Also remember a seller who finances a home deal may have to chase down the buyer for any missed payments, and someday might face the hassle and expense of foreclosing. Make sure youre okay with this potential burden as well before moving forward with the deal.EDIT: FYI, to check his credit, youll either need a signed consent form that you can pull off a credit bureaus website and pay a small fee, or for a more informal approach ask for copies for the buyers three free credit reports that you can get at Definitely do not move forward until you know more about this persons payment history.EDIT2: I realized upon re-reading I was very negative on seller financing. And I am very skeptical here. But it does have valid uses. Its a great way for buyers and sellers to negotiate unique loan terms such as selling as-is, including appliances, whatever else you want. Also helps both parties save a lot in closing costs. So its not totally without merit. But Im worried about the buyers motivations in this situation, so you need to do your diligence before accepting this offer and make sure you trust him. If things do look good though, its not something you should always dismiss outright... just be wary and pull the plug if you see any red flags.Human: Thanks, this is very helpful.As far as not being able to get a 21k loan, a realtor friend of mine says that with the age of my house and being a mobile, banks wont finance under 50k. It would have to be a personal loan, and that is a high personal loan.Id definitely be pulling credit prior to doing anything. I also need to get more info from my realtor aside from Would you be willing to finance? I have someone who is willing to put 5k down and pay 1k down.  <response>: That actually makes a ton of sense as to why he would seek this form of financing rather than going though a bank. I was unaware of that.In addition to getting the credit report, proof of income last three pay stubs couldnt hurt. And review the contract carefully to make sure youre protected. Frankly Im not a realtor or a lawyer, so I dont know the best way to secure your interest in the property, but cover your bases. 