All Forum Posts by: David T.

My question is about "subject to". I haven't done any of these at all yet, but I understand how they work. What happens if the seller at some other time goes into bankruptcy on a "subject to"property you took over payments on? Is there a way to protect your property from being included in their declaration?

My question is about "subject to". I haven't done any of these at all yet, but I understand how they work. What happens if the seller at some other time goes into bankruptcy on a "subject to"property you took over payments on? Is there a way to protect your property from being included in their declaration?

@Rose C. I would suggest finding a title company that accepts assignment contracts, some will not. You wouldn't need a realtor for an assignment contract unless the property you are assigning he/she has exclusive rights to sell it, then you might have to pay his fees, but this would be the responsibility of the seller, normally.

I would have previously suggested using the $8000 to obtain a Hard Money loan and buy and flip a property.

Welcome.

@Keleigh Felder welcome to BP and great goals.

@Mike Landry welcome to BP.

@Nan Zheng welcome to BP.

I'll keep an eye out for what you are looking for.

@Karen Margrave I was acting as a buyer speaking with a seller.

@Account Closed

The house wasn't list on the MLS. A bird dog brought me the property he saw a for rent sign out and it was pretty distressed looking. I mailed the owner a letter who just so happened to be a realtor also. .

@Michael Jobe I knew nothing I did was wrong. I am not really sure why he called other then to try and get a rise out of me. I just thought it was funny.

@Daren H. No I am not a licensed realtor.

Thanks everyone for the replies. Who knows why people say the things they do.

I got response the other day from a letter sent out through my direct marketing campaign. The caller calls and explains he received one of my letters and wanted to know what I could offer him for his property. I was not at my office so I didn't have his property information handy. I explained this to him and pulled my ipad out to take information from him to so I can call him back with a price follow up. I get his address, name, and number and ask what he would like to sell it for? I then ask if he owes anything on it and if so is he current with payments. He goes onto tell me he is a licensed realtor and I cannot legally ask these kind of questions. Then went onto say he has my letter and is going to report me.

I just thought it was weird. He called me asking me what he could get for his property. He obiously wasn't a motivated seller. I just wanted to share. I am not under the impressions its illegal in Texas to ask questions from someone that calls you.