How Can I Get To Property From Owner Through Subject To Existing Financing

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hello guysI need help trying to obtain a property, I spoke with a property owner who is willing to take 95,000 for him 4 bedroom house. the the comps in the area are going to about 106,000 he is also willing to pay 3% toward closing cost. but my credit score is about 545. how can I structure a deal with the selling to get the house on subject to existing financing and also provide security and cash to selling[ Edited by guyy06 on Date 08/27/2005 ]

Comments(4)

  • djmadmike28th August, 2005

    if you have to pay him 95k it wont be a subject to unless i misunderstood the question...hes selling for 95 and comps 106 ...trust me you can find a better deal....subject to would be owner go bye bye maybe you give a couple of grand to get lost and you take over the show rent lease sell maybe...but you shouldnt even worry about your credit score...
    guys correct me if im wrong but i think this guy can do better....

  • guyy0628th August, 2005

    thinks dj, but the owner just want to get the house totally out of his hands. The problem is that he does not know anything about subject to existing financing. How can I make him comfortable with me taking over the payments and ensuring him that I will make payments on time every month

  • Stockpro9931st August, 2005

    I think sub-to works everywheresmile
    [addsig]

  • InActive_Account2nd September, 2005

    I think you should give her the $1000.00. Yes you can write the sales agreement with your company being the buyer You can also write the sales agreement with your land trust being the buyer and you as the trustee.

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