All Forum Posts by: Markeilsha R.

congrats! Where did you do the deal?

I would like to know if, once I purchased a home sub2 with a trust, I would be able to apply and use my Military Star exemption for the taxes. Here in my county I should qualify for 45% of the home value for exempted property taxes as a disabled vet. I intend to occupy the residence as my primary home. I know that the deed will be transferred into my control in the trust, but can I apply my own benefits? Has anyone done this?

I was looking for information on this too. I also wanted to know what went into it and how much it costs---I'm in NY.

I will be speaking to the seller tomorrow, making my "pitch" to purchase the home subject to. At present I am very interesting in taking over the home since I currently rent it, and the owner has offered to sale it to me. The home is worth 81k and they are only asking for 67.5k. The trouble is, after doing a quick check in the taxes I discovered that they owe 24k in delinquent property taxes. This would easily be alleviated if I could get financed but I'm not able to qualify this point. Subject-to, seems my best bet, but I want everyone to be protected in the meantime. If I own the deed to the property, does that make it easier to get a loan?

has anyone ever purchased a home "subject to" that has a delinquent tax bill? Is there a way to incorporate that in the deal if you were willing to take over the payments for the tax bill?

Thank you! I've done some reason on it but I wasn't really clear on what my entitlements would be if I owned the deed, without the mortgage being in my name. I will also do some reading on the refinancing. I haven't done much research on that yet, but it seems that terms of qualification are much easier than a new purchase. Any advise on that?

I am currently a renter. I've been in my home over 6 years and it looks like the owners would like to sell. At this point I don't have the credit to obtain a loan, and the owners have already stated that the loan is unassumable. I was wondering... If I can convince to to sell me the home "subject too", would I be able to get a loan for the property in my own name later on? They way I understand it, the deed and therefore the home would be mine, but since I don't have a loan it wouldn't be a refinance. Has anyone ever done this?