Legal proof for creative finance in KY

[Clark Spalding]

Hello all you amazing people,

In the process of trying to use creative financing I continuously run into the situation of realtors not believing that Subject To and Seller Financing are legal.

Any ideas where I might be able to find legal proof that these are allowed in KY?

[James Wilcox]

Quote from @Clark Spalding:

Hello all you amazing people,

In the process of trying to use creative financing I continuously run into the situation of realtors not believing that Subject To and Seller Financing are legal.

Any ideas where I might be able to find legal proof that these are allowed in KY?

@Chris Seveney hits the nail on the head, you don't need concrete "legal proof" to provide to a realtor when submitting such offers. It would surprise me if they're claiming it's illegal to do so as well. Specifically with Sub2, they might simply be cautioning that it's unlikely to succeed because the bank needs to also agree. Those types of offers are complicated and probably honestly not even worth their time to write up. Initiating a conversation with a seller by presenting an offer under these terms can raise concerns, signaling, "I lack funds and need a favor." Why would they opt for that when they could sell to someone less complicated, potentially more seasoned, and more likely to close the deal.

If you're set on proposing more innovative offers, collaborate with an agent who is investor-friendly. I can draft these offers for you, but, as mentioned, the likelihood of acceptance is slim to none unless you're presenting terms favorable to the buyer or possess substantial experience to demonstrate your ability to close.