First "subject to" purchase

[Keithq Rueter]

I have a motivated seller with small equity in home. Considering an offer for subject to existing mortgage with reasonable interest rate. I am unsure of a few details listed below, and clarification would be appreciated...

1. If seller agrees to this contract how does it affect their ability to qualify for an additional mortgage since they will have one outstanding, being paid by the investor?

2. Do I require seller to sign a General Warranty Deed?

3. How am I able to convey property to another buyer either immediately, or at a later date?

4. How do I become a party on the existing insurance policy?

Any other important items would be greatly appreciated. Intentions are to rehab and flip in a short period but will offer the seller specified funds at the time I sell, just not sure how to proceed.

Thanks!