Name of deal when buyer pays off sellers loan balance

[Jimmy Rojas]

IM located in PHX,az and would like to know the name of this deal scenario where buyer agrees to pay off completly sellers loan balance, for example , lets say seller owes $50k on a $350k home buyer agrees to pay seller that $50k and is the new owner of said home. Is it a a subject to?

[Bill B.]

Quote from @Jimmy Rojas:

Quote from @Bill B.:

They would go to Zillow, Opendoor, offerpad etc etc. They offer cash purchases. They would get a check within 7-14 days for $250-$300k. Even if they were already late on payments they could stop making payments and get the loan paid off that way. 

 I got news for you, most people in the U.S dont have not even $50k cash let alone $300k cash liquid.......................

WHAT ARE YOU TALKING ABOUT?

They don’t need $1 to sell their home, much less $50-$300k. With Opendoor/offerpad they click on a link, they get an offer. The buyers payoff the mortgage and the sellers get a check from the company for the remainder.  Same result as selling to a regular buyer. Just 7-14 days instead of 30-45 days for a little lower amount if they’re that desperate. Seller’s don’t pay off their mortgage before they sell.