Buying Property Subject To: What Documents are Needed

[Sherry Maxey]

Hi All,

I'm buying a property subject.  The Seller currently has it rented and I'd like to at this time keep the existing tenant.  I have the purchase agreement, Subject to Addendum and Promissory Note. 

What other documents do I need, if the promissory note is to be secured? i.e. I'm hearing I need a note and mortgage document prepared as well. (junior mortgage recorded)

If we record a junior mortgage will this red flag the 1st lien holder?

Help..