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Forums » Rent to Own a.k.a. Lease Purchase, Lease Options » Subject to deal

Subject to deal Subscribe to Subject to deal

8 posts by 7 users

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Bryan Winter

Real Estate Investor · LaFollette, TN


Forum_avatar_avatar-tiredout

Icon_minipost Jun 06 '08, 03:22 AM

can anyone please help with how to write up a subject to deal? How do you write up the purchase price? or do you mention the existing mortgage at all? Some guidance would be nice

Thanks

Edited: 06/26/2010 at 05:18AM


Rita Temple

· Sacramento, California


Forum_avatar_avatar-ritamk

Icon_minipost Jun 06 '08, 04:15 AM

I have never done a subject to deal before but I'm reading a book by Wendy Patton Subject to and Lease Options. It is pretty informative. I bought it at Borders. :rock:

Edited: 06/26/2010 at 05:18AM


Jason Hanson

Real Estate Coach · Oakton, Virginia


Forum_avatar_avatar-primo_coach

Icon_minipost Jun 11 '08, 07:44 PM

You should be using a specific subject-to contract and it should mention you are taking over the existing loan.

If you are taking over a 200,000 loan, then the purchase price is 200,000 (assuming you are not giving them any cash later, or at the table)

Edited: 06/26/2010 at 05:19AM


Tracy Caywood

Real Estate Investor · Jacksonville Beach , Florida


Forum_avatar_avatar-fortunehunter

Icon_minipost Jun 14 '08, 10:47 AM

You can use the Subject To contract that I've attached. Of course there are other docs that you need other than the contract on a SUB 2 deal, like CYA letter (MOST IMPORTANT) -

And please, do not consider my freebie gift of this contract as legal advice. Please consult with a real estate attorney before entering into an contract - especially one I'm giving you (that's MY C.Y.A. Disclosure)

No, seriously, this is the contract that I use on my Sub 2 Deals.

Well......sorry guys. I tried to attach it, but I guess I'm not that savvy that. Can't figure it out....(Could be cause I'm posting this at 1 a.m.)

Edited: 06/26/2010 at 05:20AM



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Chris George

Real Estate Investor · Fresno, CA


Forum_avatar_avatar-creedog31

Icon_minipost Jul 18 '08, 11:15 AM

Originally posted by "ritamk"
I have never done a subject to deal before but I'm reading a book by Wendy Patton Subject to and Lease Options. It is pretty informative. I bought it at Borders. :rock:

What is the title of the book that you are reading, I am trying to find several that will help with creative financing?

Edited: 06/26/2010 at 05:32AM


Lee Common

Real Estate Consultant · San Antonio, Texas


Forum_avatar_avatar-monedog

Icon_minipost Jul 19 '08, 11:52 AM

Anyone ever use " or assigns" As in your name as purchaser on P.A. then or assignee. Set up a simutainious closing where you take over the propery from seller for X in one room and sell it in the other for Y to end buyer. Note not all title companies can facilitate this kind of transaction.

P.S. No R.E. licence required

However you are useing the purchase agreement as a sort of listing agreement. Only do this with seller concent!

Edited: 06/26/2010 at 05:32AM


Jason Hanson

Real Estate Coach · Oakton, Virginia


Forum_avatar_avatar-primo_coach

Icon_minipost Jul 23 '08, 08:30 PM

One of the best books to read on creative financing strategies is Wendy Pattons lease options and subject-to book.

Edited: 06/26/2010 at 05:33AM


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