Attorney & Title company for Subject To

[Alan Negrete]

I'm looking at doing my first Subject To deal. Do you guys recommend any attorneys and/or title companies in the Des Moines area that are knowledgeable in this?

TIA!!

[Curt Smith]

Hi Folks, I focus on sub-to.  Connect/PM me I send out a free sub to training complete with all example docs.  Very complicated closing AND especially post closing.  

Recently I have had to change my closers, the old ones bailed on so called liability.   The best tactic is to join local REIAs in your area.  Ask for investor friendly closers for referral from LOCALS.

Else;  use google and start calling all the real estate attorneys/title offices in your area and ask if they'd close a purchase where the security deed was not paid off and stayed in the sellers name, you take over the payments.  They do not know the term;  subject-to.  Keep calling.   Some may say its illegal  which is wrong.  In GA the settlement statement lines are 203/503;  debt left in the sellers name subject to...  Obviously its NOT illegal, just not very common.   

You are not assuming the loan.  You do not need approval by the bank.  You are stepping into being the "manager" for the seller since they are leaving the country and leaving their real estate in your hands as the trustee of their family trust and the manager.  If you don't say stupid things to the bank (post closing) and have trust docs, Power of Attorney docs, the banks have a std process for "managers" "trustees" to take over managing the loan..   Never a problem!

Also mention to the closer/title office you'll close into a trust and you'll bring all the docs including important adendums to the warrantee deed.  See my docs.