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Updated 3 days ago on . Most recent reply

User Stats

13
Posts
1
Votes
Jordan Epping
  • Real Estate Broker
  • Twin Lakes, WI
1
Votes |
13
Posts

Potential Subject To Purchase

Jordan Epping
  • Real Estate Broker
  • Twin Lakes, WI
Posted

I am looking at purchasing a property subject-to and looking for some advice and some answers on a couple of things. Here are the details:

-purchase price $353,000

-seller owes $187,000 on the mortgage but has a forbearance plan set up with an additional $4,000 due

-I will be paying cash for the delta

A couple of questions I have; does the title get put into my name at all? What kind of contract do we bring to the attorney for something like this? When I take over the mortgage payments, do I just use the original owners log in info to make the payments? Any advice would be greatly appreciated! Thanks so much.

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