First deal- loan structure with owner fin &subject to

[Tasia Turner]

My business partner and I are getting ready to sign a purchase agreement on our first deal. We plan to rehab the property and resell within 4-6 months. The seller has agreed to subject to financing on her current mortgage and owner financing the remainder, after a down payment. I have been reading about contract for deeds and I know that we would not receive the deed until the loan balance is paid in full. Is this something that could be done at the closing table with our end sellers and our current seller? I know that if we do a contract for deed, it would keep the subject to loan from being due-upon sale. I’m just unsure of the logistics with paying off the contract for deed before reselling, if this is even possible. Thanks in advance!

[Tasia Turner]

Thank you for your reply, @Wendy Patton. What you described in your first reply is exactly what we are doing (subject-to and a second due to the owner)..and with help from our local title company. I thought that maybe contract for deed and and a second due to the owner could be combined and then do subject-to on her existing loan. We got all the kinks worked out and out house in currently in escrow! --now just some tax lien title issues :-D The fun keeps on coming! lol. Thanks again for the advice.