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Updated over 6 years ago on . Most recent reply

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Thomas Paige
  • Blountstown , Florida
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Help with a "subject to"

Thomas Paige
  • Blountstown , Florida
Posted
I have a couple who wants to do a subject to deal, but she want to talk to her bank first. Will that automatically bring up the due on sale clause? And what all paperwork would i need in this deal? This is my first deal ever, so all advice would be greatly appreciated.

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

You need to find a local RE attorney. There are disclosures you need. One of them is the seller acknowledging that if you don’t make the payments she is screwed because you have the title, the loan is still in her name and there is nothing she can do about it, among others.

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