All Forum Posts by: Jessica Oots

My husband and I have been in the SubTo community for a few years now and Pace is hands down the best to learn creative finance from. He lays it out so simple with endless content and examples. He will take the time to answer questions and gives way more than what you pay for. The community is the best part where we've been able to connect with many like minded individuals and is beyond motivating! He teaches way more than creative finance and you will definitely not regret the investment in yourself!

Hello,

I have a property under contract with a seller where the property needs $30k in work to cure code violations before clear title is issued. My buyer will take the property with the violations but needs a hard money loan. Seller and buyer are not willing to cure violations prior to close. Buyer won't do this because they don't want to cure work they will be undoing when they go to expand the house and don't want to waste $30k. My questions is - are there any hard money lenders who will lend on the property knowing the violations will be cured after closing and during construction? The lender needs to allow the liens to stay on title because the city won't remove them either, even just for 3 days to close. Title will be clear with the exception of the liens. Thank you!

Hello, my company is purchasing a property for $160k and the seller owes $142k on the 1st and $80k on the 2nd. The property will be going to auction as soon as they can resume. 

We want to see if there's any angle we have to negotiate the debt down on the first. This wouldn't be a short sale to the first since we are technically paying more than he owes on the first. 

I understand I can negotiate with the 2nd, but it's a private party and he is more uncooperative. I know if/when the auction happens his lien will be wiped so he may talk later.

For now, we are seeing what the first lien holder will do. Does anyone have tips/experience/pointers on how I can navigate this?

Thanks!

Thanks for the feedback - the seller was able to sell the property. Buyers would have obtained hard money on this one and subject to would have been a better rate. 

The bigger issue is that we are only able to offer low cash offers on homes and are trying to implement seller financing and subject to offers for sellers who want more than the low cash offer. I can't seem to determine the actual 'how to' process the transaction in California. Can anyone point me in the right direction? I have called numerous title and escrow companies and asked my network in out of state markets where it seems to be entirely different. Thank you!

I have a seller who is willing to allow us (or our end buyer) take over her existing loan payment on a subject to with a wrap. How can I process this transaction in CA? All I am finding is the title companies can do an All Inclusive Trust Deed and the title will transfer immediately. I don't want to title to transfer until the term is met (2 years) in the off chance the due on sale clause is activated. Has anyone had success with subject to's and wraps in Southern California without doing an AITD?

I have talked to some people who do this out of state and they say the title company can create a Contract for Deed, Agreement for Sale or a Land Contract but I have yet to find a title company that can do this. Thank you!

Bernie, how are you obtaining phone numbers of the PR? Thanks