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Updated over 3 years ago on . Most recent reply

Trying to close a Subto deal but having troubles
Hi Everyone,
Shannon in Kansas City, MO here and I've been watching quietly for a while and now as I scramble to make some moves before the end of the year I've found a great deal that the owner of a commercial building has a small note and is willing to make a deal subto. The bank seems confused by my request and the owner and I are in agreement on the terms and it's a good deal that really works for me right now. Who can help me facilitate this deal quickly as the bank is confused and I called a friend who is an attorney and he referred me to a real estate attorney and even he seems confused. It made total sense listening to Pace, but now I'm wondering if I can get this deal done. Please let me know who you use for these types of deals and if you think I can still get it done before EOY. Thank you!
Most Popular Reply

- Rental Property Investor
- Clarkston, GA
- 1,919
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@Shannon Schlappi please connect with me ill send my subject to training pdf! Thus so difficult and can get the bank all wound up for no reason. Please!
Yiu need a Poa, power of attorney to manage the bank, insurance, critical steps and necessary docs at closing and steps post closing.
Closing into a trust is nice but not essential, the Poa, seller affidavit etc are key and needed. Then the steps post closing setting up auto pay, landlord insurance policy etc.