I Appreciate your time in responding to my post as well as elaborating on your explanation.

Its like getting MOS training where the instructor tells you to read the book and then there is no discussion, explanation or OJT.  

Ask the title company for an explanation and do not close until you feel comfortable with the transaction.  

I really appreciate your detailed explanation and completely understand the concept.

@Dion DePaoli Hopefully my explanation lets you see a bit better what I was talking about.

This is an oversimplified explanation, and is not a hard and fast rule, but a good guide.Hope this answered your questions.

TOTAL $___________.00ï‚š Subject to Purchase Price: $ ___________________. 00 ( See paragraph XIX for explanation)Buyer buying property Subject to the existing loans in the amounts not to exceed $_____________. 00.

IF"Then there is the explanation of "Higher Offer" which doesn't mean a lower defincency...

If your deal is for an investment, they will also look to your experience in doing such business, they are considering the total risk involved, if you lease a house and break laws, you could be sued and that would likely put their loan at risk, (simplified explanation of contingent liabilities and risks).Going to clsoing the bank makes a first mortgage and is closed as any other loan.

Make offer as "Whatever your name or entity OR An Entity To Be Named Later" This is almost the same as and/or assigns, but the explanation I give to the bank is that I may want to form a new entity for this purchase because my accountant has advised I have too many assets in the current one.