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Updated over 5 years ago on . Most recent reply

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14
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0
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Bruce Irving
  • Real Estate Investor
  • Massachusetts
0
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14
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Subject To ?

Bruce Irving
  • Real Estate Investor
  • Massachusetts
Posted

How do you get the seller to agree to except a subject to deal?

If they they do except do you need a lawyer to write up the paper work ,or can you do it yourself?

Most Popular Reply

Account Closed
  • Real Estate Investor
  • London
74
Votes |
3,383
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Account Closed
  • Real Estate Investor
  • London
Replied

Good question, though. How do you convince someone that you are trustworthy enough to give you a deed to their house and keep the mortgage in place?

To all,

1. They need to be really motivated. Hence you become the lesser evil. There are risks but the risks with you have to be less than the other options.

2. They are not going to do the deal if they think you will not perform. Hence you need to show a track record or other ways to show that you are solid and will do what you say.

3. You can help the situation by clear documentation. The more professional the less they are concerned.

There are still risks and at the end of the day they have to believe you will perform. You also could run the payments through escrow. You can put 3 months of payment in escrow so there is a buffer.

Ultimately they have to trust you. They are not getting a clean exit initially.

John Corey

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