Sub2 strategy and Due On Sale clause

[Tyler Walker]

Hi Everyone,

I have a motivated seller with two properties (a duplex and a condo) in Columbus / Central Ohio area. Units have renters, but he wants to retire and be out of the game. He is willing to do a Sub2 the existing mortgages for most of the $$$ - but I am worried about the Due On Sale clause. Both mortgages are through huntington Bank. Does anyone have experience with DOS clauses with loans from Huntington bank. We don't want to trigger a problem. The other option is a Lease option - but then he still has the properties in his name and has to deal with payments, taxes, etc (and he wants to relax).

Thanks,

Tyler