All Forum Posts by: Pat McGrath

when doing the subject-to, I assume there isn't any 'pre-clearance' you should do with the bank/lender? I would assume a full title search (and maybe an inspection) would be done before assuming any subject-to, so you get clear title. I would assume NO talking to the bank about this, because they would want to pull the 'due on sale' clause to get a higher interest rate from you (new buyer) than what they are getting from her currently. I thought I remember hearing in a podcast, that you could do a 'land trust' which deeds the property to a trust and your the only one on the trust...could the bank not see who is on the trust? and figure out that say the trustee on the trust was westbrooks but the loan is on a jane doe?

@rick: what counties of California do you work? Northern or southern or bay?

i'm new to this, but they aren't a motivated seller. the end...but that all can change with time...so maybe keep following up every month or so...maybe over time you can wear him down, build some trust or respect and maybe try a subject-to or lease-option, ....wait you said its in bad shape? oh never mind then, its a ugly house, not a pretty one :). still try the trust/respect route. Eventually he'll sell at a loss or hold it until its not a loss anymore...put simple: YOU don't need to understand him. YOU are not your customer. maybe he's got more money and doesn't mind the payments.

i'm new and would also like to know how you panned out, since this topic was started 2 years ago when it was the big downturn.(at bottom). south sac and west sac and parts near north sac (natomas) can be very bad. Stockton is very very bad yes. it got hit hard by the downturn and sell off too. the market around here is definitely pickup up and with a huge head of steam it seems like.

newbie here, catching up on all the reading I need to do. Listening to the many podcasts, which they need to improve their 'quick tip...' :) Lots of folks here really know their stuff so reading up as much as I can and learning my local market vs say my old college market.