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Updated almost 2 years ago on . Most recent reply
Title company that handles Seller Financing and Subject To deals
Can anyone recommend a title company in the DC metro area that handles Subject To or Seller Financing transactions? I recently came across Pace Morby's video on the "subject to" real estate deals, and I am interested in learning more about it. Thank you all.
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@Jack Seiden Where did you come up with "You are legally required to notify the bank of any transfer..."? That obligation doesn't exist.
The DoT (samples of local instruments can be found here: https://singlefamily.fanniemae... ) addresses transfers made without lenders consent. Notice that the permitted responses are discretionary ("may") ... the lender may accelerate, may require immediate payment, may invoke other remedies, etc. Buyers and sellers who do deals like this knowingly assume those risks. Often times the buyer just wants to avoid the expense of obtaining a new loan for a period of months while they rehab the property.
- Tom Gimer
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