Title
I was at the courthouse researching a house I could buy sub2. The house has been refi'd so many times I had a hard time following the chain. I saw a release of mortgage on it a couple years ago but no new mortgage on it. I did see another mortgage for 2 times the amount for the owner. He told me that he originally did a bridge loan and bought this property and 1 other at the same time. He also said they are 2 seperate loans. I only see the 1 mortgage for both properties. How would this affect a sub2 purchase of one of them?
Title should not be an issue. You can get a deed to anything no matter what the leins if they sign the paperwork; no problemo.
However, if there is a lien placed on that property for that, and another property, you may have issues if the $ is held against the one you're going to buy. If you go throught with the sub-2 I'd have title co. search and check it out for sure. Good luck
Sam