All Forum Posts by: Quentin Hollis

I'm currently working on my first real estate deal and will be buying a property subject to the owners existing mortgage. I've done some negotiation with the seller already and we've agreed on the broad terms of the deal. My plan is to buy the house subject to their existing mortgage, renovate the property, refinance it and pay off their remaining loan balance using the money from the cash out refinance. I'm working with a real estate attorney to help me with transferring the deed. My question is how do I avoid triggering the due on sale clause in the mortgage when the seller transfers the deed to my name? I've heard there's a good chance the mortgage company won't care as long as the payments continue to be made on time but I still want to protect myself just in case. Does anyone know how to go about it?