Structuring land contract as a "Subject to"

[Kyle Woodruff]

Hi Everyone,

I need help and telling me why this does not work.  Here is the scenario.

I originally wanted to do a subject to deal but seller was a little worried about it.  Here is the stats

Seller owes 80k on the house. Wants to sell for 90k.  I don't want to pay 90k cash but what if.....

I structure a land contract for 90k with a 10k payment due at closing to the seller. 

I make payments to the seller in the amount of the loan amount they currently pay. 

Say they pay $500 per month for the loan.  That is what I would pay the seller in payments per month to cover that loan cost. 

I wouldn't get the deed to the property but it would provide a little more security for the seller and make them feel more comfortable, while still only having me put 10k into the deal vs. 90k. 

Question. Can I do a land contract when someone owes on the property? Will the land contract trigger the due on sale clause if we are technically not transferring the deed?  Am I missing anything in this? 

Thanks everyone.  Happy hunting!