Terms I should expect from seller carrying mortgage?

What kind of terms I should expect from seller carrying mortgage? Here’s what he states before any negotiating:
20% down
7% APR
25 year amortization
TY for any help.

Seems reasonable to me.

What’s the term of the loan? Is it a fully-amortizing 25 years? Is there a balloon after a certain number of years?

Yes, fully amortized over 25 years with no baloon.

That’s a one in a million loan – you’ll never match that with a bank. Bank loans are typically 5 to 10 year terms and often have recourse. Not to mention the fact that they will require significantly more up-front cost. Sure, the interest rate is slightly higher than the average bank loan right now, but rates are going to go up in the years ahead and this one never re-sets, correct?

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That’s right from what I read in his info- no reset.

Getting a fully amortizing seller carry for 25 years would be very desirable.

I would add an Assumable clause. That way, if you decide to sell years later, it’s very attractive to the new buyer. Just my thought.

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THX everyone for your input. I really appreciate it.