Can anyone share insights on typical seller note terms?

October 10, 2023
by a searcher from Stanford University - Graduate School of Business in Dallas, TX, USA
Can anyone share insights on typical seller note terms, including the percentage of the purchase price, term/amortization, and interest rates? We would like to ensure that we're within a reasonable and fair range based on market trends.
from Duke University in Savannah, GA, USA
from Massachusetts Institute of Technology in Boston, MA, USA
10% of purchase price, 5-year term, amortized over 10 years, 5.5% interest, monthly interest-only payments for the first 2 years, 5-year balloon,
(seller negotiated down from 15% of purchase price to 10%, generally remarked that interest rate is low but agreed without any push back), ~Q3 2023
14.1% of purchase price, 4-year term, amortized over 10 years, 5.5% interest, standby for one-year, monthly interest payments month 13-21, 4-year balloon,
(seller negotiated down from 15% of purchase price and a 5-year term, and altered payment structure from two year interest only payments to the final agreed upon structure), ~Q2 2023
seller note used as a source of security for indemnification purposes, but not the sole source, subordinated to senior lender