As long as the balance of the mortgage gets paid off at closing, the mortgage company doesn't care if the seller sells the property, and the mortgage company doesn't need to give permission (or even know about it).In your scenario, the mortgage would be paid off during the first closing (with the transactional funds) and the second closing would be to sell the free and clear property to your end-buyer.

Had the money been for a specific purpose (and had it not needed to be repaid with interest), it may have been considered a subsidy.But the fact that there were few restrictions and repayment with interest was expected, it was clearly a loan, and not a subsidy.Btw, as someone who owes taxes every April 15, the government loans me money as well every year.

He has 4 cash flowing properties (1 free and clear) and downpayment for 3 more in the same time you have 1 free and clear property which now cash flows.

How do I find out if the title of the house is clear before i put it under contract?

I offer the state auditor 1 dollar and pay 1 dollar for the land lot and I pay 25 to process serve the previous owners and I pay 61 dollars deed fees and get free and clear deed about 60 days later.

Fidelity wouldn't insure it even though we're clearly correct.

I'd @mention him but it doesn't seem to work on my phone.Looks like you've got clear objectives and goals, and I like that.

To be clear, the lease expired several months ago and we are just on a verbal month-to-month agreement.Thanks a lot in advance!

If it were me I'd want to be very clear how and when everything is calculated.

You can't value a deal on what the old owner is clearing, he didn't pay 110k for it!