Buying Sub-to deal

Joel Matthews

Rental Property Investor · Member since 2022 · 32 posts · 16 votes

Hi Everyone,

My name is Joel. I am trying to buy a sub to deal in Philly. Has anyone done this before and what are the pros /cons?

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Denise SuppleeBusiness Member
Realtor · Willow Grove, PA · Member since 2017 · 979 posts · 642 votes
10mo
Hey @Joel Matthews, I’ve seen a few investors do sub-to deals in Philly, and they can definitely work if you’re careful. The main upside is getting control of a property with little upfront cash or traditional financing. The downside is making sure the seller’s lender doesn’t call the loan due and that all paperwork, especially disclosures and insurance, is airtight. Philly also has some unique title and transfer tax quirks, so make sure you’re working with an attorney or title company familiar with creative financing.
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- Joel Matthews
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  Rental Property Investor · Member since 2022 · 32 posts · 16 votes
  10mo
  Quote from @Denise Supplee:
  
  Hey @Joel Matthews, I’ve seen a few investors do sub-to deals in Philly, and they can definitely work if you’re careful. The main upside is getting control of a property with little upfront cash or traditional financing. The downside is making sure the seller’s lender doesn’t call the loan due and that all paperwork, especially disclosures and insurance, is airtight. Philly also has some unique title and transfer tax quirks, so make sure you’re working with an attorney or title company familiar with creative financing.
  I appreciate your insight, thank you so much. This was helpful to know.
  
  That being said, if you are privy to any sub-to/seller financing deals in Philly I’d be open to it. Would love to work with someone who knows the lay of the land.
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