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Subject to deal
8 posts by 7 users
Bryan W.Real Estate InvestorLaFollette, TN 
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can anyone please help with how to write up a subject to deal? How do you write up the purchase price? or do you mention the existing mortgage at all? Some guidance would be nice Thanks |
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Rita T.Sacramento, California 
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I have never done a subject to deal before but I'm reading a book by Wendy Patton Subject to and Lease Options. It is pretty informative. I bought it at Borders. |
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Jason H.Real Estate CoachOakton, VA 
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You should be using a specific subject-to contract and it should mention you are taking over the existing loan. If you are taking over a 200,000 loan, then the purchase price is 200,000 (assuming you are not giving them any cash later, or at the table) |
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Tracy C.Real Estate CoachJacksonville Beach , FL 
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You can use the Subject To contract that I've attached. Of course there are other docs that you need other than the contract on a SUB 2 deal, like CYA letter (MOST IMPORTANT) - And please, do not consider my freebie gift of this contract as legal advice. Please consult with a real estate attorney before entering into an contract - especially one I'm giving you (that's MY C.Y.A. Disclosure) No, seriously, this is the contract that I use on my Sub 2 Deals. Well......sorry guys. I tried to attach it, but I guess I'm not that savvy that. Can't figure it out....(Could be cause I'm posting this at 1 a.m.) |
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flipper101Real Estate InvestorSan Ramon, California 
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Quick side note here to Tracy... Congrats on the new i-Phone.. Just checked out your blog and was quite impressed.
You can do a track back to your blog, so it's a win-win... And, Welcome to Bigger Pockets!! |
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Chris G.Real Estate InvestorFresno, CA
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What is the title of the book that you are reading, I am trying to find several that will help with creative financing? |
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Lee C.Real Estate ConsultantSan Antonio, Texas 
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Anyone ever use " or assigns" As in your name as purchaser on P.A. then or assignee. Set up a simutainious closing where you take over the propery from seller for X in one room and sell it in the other for Y to end buyer. Note not all title companies can facilitate this kind of transaction. P.S. No R.E. licence required However you are useing the purchase agreement as a sort of listing agreement. Only do this with seller concent! |
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Jason H.Real Estate CoachOakton, VA
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One of the best books to read on creative financing strategies is Wendy Pattons lease options and subject-to book. |
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Posted: 06/06/2008 at 02:22PM
