Subject To, What Is It ?
Could someone please explain to me exactly what a subject to is? It sounds like a contract for deed to me. If someone could please explain this to me I would greatly appreicate it. Is there a "Subject to Contract" ? If someone has one that I could see I would greatly appreciate it.
A CFD involves owner-financing. A subject-to is simply getting the Deed (using the existing financing to purchase the property).
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Is there a "subject to contract" or is it the actual contract for deed, or do you use the quick claim deed?
I believe that I have a good lease option contract, now what does CLA mean?
Hey Joey...thanx for the info and the CYA....but..could you give us an example of some of the "other stuff"....I appreciate....enjoy your day.
So when is the property sold?
date of Possession?
Property resold?
Property refinanced?
Do not allow the guy to stay in the property.
aint that the truth
How about a Win - Win?
Buy the 2nd house for $21,600 net to the owner, and subject to existing mortgages.
Assuming you have $22K cash, the closing can take place as soon as a title search is completed.
You will have $50K to rehab 2nd house, pay closing costs when you sell, and the balance is your profit.
And your friend will still have his home with a reinstated mortgage. Workable??
Rule number one of investing,
Never and I mean never to business with friends or family.
Rob Carroll
Anderson Investment
The bank holds the debt instrument, not the Deed. The property is security for the loan and remains so no matter who owns it.
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