Subject To Existing Finance?

Senario: FMV: 100K Loan Balance: 90K Offer: 1K subject to existing finance Now on the purchase contract it states "1. PURCHASE PRICE: The full purchase price shall be $____________________________________dollars payable Subject to existing loan. " is the full price: 90K, 91K or 1K. How have others worded this when giving the seller a promissory note for their equity? Thanks. [ Edited by rjones on Date 01/28/2004 ]