Buying Time, On A Low Budget.
Can a sell of property take a note and leave 50% of it's equity in the property for 15 years?Example: 400,000. asking price. I agree to pay 420,000. at my terms - 50% up front and 50% with a note at 0% interest for 15 years.Secured by that and/or other property. If sell agrees, is this a legal and wise deal? 
Legal- Yes. Wise, yes for the buyer. Bad for the seller. They have an investment that is making no money for 15 years. If I was the seller, I would turn you down cold. I might agree for a note of shorter term.
See if you can structure a deal bringing you a positive cash flow while giving the seller bank interest on the remainaing half. 5%. If you can make that formula work, it should result in a win/win for both parties.
Hello RHYEAGER,
Well, this is how I see it, the seller could be getting a real good deal. Say the 400k is their wish price. You offered their wish price plus 20k. You gave 50% up front. And now they carry a note for 15 years on something of value.
Since you did not tell us what the item it that your are planning to purchase. Say the item is only worth 375k or less. As long as you have done your leg work and can make a profit with your offer then, it is a win/win deal.