"SUBJECT TO"

[Paul Ostler]

Hello all! I am new here, so please bear with me. My wife and I own one rental home, and our current home, but would like to acquire more homes through "subject to" deals. I understand the basics, I take over the home, make the payments, the home is deeded to me and the loan stays in sellers name. But, I don't know what steps to take from there. If I find a home with a willing seller, who do I need to report this to? Does anyone in the city need to know? Do I get an actual deed? Like I said, I'm a newbie. any advice? I already plan on contacting a lawyer and getting a contract to be ahead of the game if I find a deal, but what do I do after the paper is signed? Any advice would be appreciated.

Thanks!