Innovative Strategies
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 11 years ago,
Subject to-Can Seller buy another property?
Can a seller that agrees with me to sell "subject to" get a new mortgage right away to buy a new house. If I provide a letter stating that I was covering the mortgage, would the seller be able to turn around and buy another home?
My seller has 2 condos. One is under water and the other is above water. The 2 condos in combination have positive equity before selling costs. He is very motivated to get rid of those and buy a bigger home for his family. I was considering offering a "subject to" deal for both and then turning around and selling them via lease option. My biggest question is, Can the seller buy a new home with the sub-2 in place?
Thanks all