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Updated 11 months ago on . Most recent reply

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DJ Brooks
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29
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Sub To Contracts? Anyone Have Any?

DJ Brooks
Posted

Hello everyone, I am trying to set up a sub-to deal on a listing I have. However, I do not have a contract or template to create an agreement. Does anyone have a blank contract they are willing to share with me? Or does anyone have pace's template? Please let me know. Thanks!  

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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
63,138
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42,819
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied
Quote from @Don Konipol:
Quote from @Wendy Patton:

@DJ Brooksi have a great book on the topic and a course - but there is more to subject to then just a form.....maybe check out my book from Amazon and see what you think - it will give you a ton of tips -  very few attorneys will have a clue how to do a subject to  - 

Yeah, Wendy’s book is pretty good primer. You’ve at least have to understand the basics, which Wendy explains very well.  

I have not read the book but I have done many sub 2's over the decades and for us it was just a standard purchase contract and when it says additional terms we just described that we were taking title subject to the existing debt or which debt would remain on title. However as stated there is a lot more to sub 2 than just a purchase contract you have to understand all the risks and especially the risks to the people your buying the property from.. they are the ones in my mind that really need legal representation before entering into one of these transactions and deeding away a property where the their mortgage is not retired and it stays in their name and of record.
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JLH Capital Partners

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