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Updated about 4 years ago,
Subject To (Transaction Process)
I have a seller who is willing to sell me their property to me using "Subject to" I have a limited understanding of Subject to. The seller will deed their proper to my entity and I will make the payments on behalf of the seller on the existing loan. My confusion comes in with the process once have the deed. How will payments be paid , how will insurance and escrow be handled moving forward? The current payment has insurance and taxed tied up in the payment. I imagine that could get complicated in the event a claimed needs to be filed also I can see some issues when its time to file taxes. Any one who can help shed some light and help educate me would be helpful.
Thanks,