re: Buying A Home With Owner Financing

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Interest rate, that depends on how long of a loan and how much you putting down on it.

You need to have it apprised and also have a complete home inspection.

If the old man passes, his family will get the money.

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Wife and I will be putting 20% down and qualify for the best interest rate possible at 30 years. 30 year rates are around 4% so what is a good number to aim for...3%?
Inspection is happening in the next few days and he recently had an appraisal done. Since the bank is not involved would another appraisal need to be done? When he passes and the financing is passed onto his estate can the loan be called? What if his estate does not want it? I am basically looking for the downsides of doing this.