Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within business days after the Seller has accepted this. The seller directly loans the buyer some of the funds needed to buy their business, eliminating the bank as middleman in the transaction.Seller financing allows business buyers and sellers to remove the middleman (bankers) and work together directly to come up with a funding deal. Typically, this involves two documents: a financing agreement (basically a loan document outlining the details and terms of the loan) and a promissory note. When it comes to filling out a real estate purchase agreement, several key players are involved: buyers, sellers, real estate agents, and attorneys.