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Updated about 9 years ago on . Most recent reply

Kenneth Guin's profile image
Kenneth Guin's profile image
Kenneth Guin
  • from Angier, North Carolina
  • Member since Oct 17, 2015
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Kenneth Guin's profile image
Kenneth Guin's profile image
Kenneth Guin
  • from Angier, North Carolina
  • Member since Oct 17, 2015
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Kenneth Guin
  • Angier, NC
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Creative Real Estate Financing

Is sub2 legal

Kenneth Guin
  • Angier, NC
Posted

Is sub2 legal in North Carolina?Because it says in NC General Statutes - Chapter 75 Article 5A that you have to pay the seller 50% of the appraised value of the home.Because for someone to do a sub2 the arv and loan balance is pretty close together.If it were 50% difference between the arv and the loan balance they could easily sell the house.

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