Updated over 8 years ago on . Most recent reply
First deal- loan structure with owner fin &subject to
My business partner and I are getting ready to sign a purchase agreement on our first deal. We plan to rehab the property and resell within 4-6 months. The seller has agreed to subject to financing on her current mortgage and owner financing the remainder, after a down payment. I have been reading about contract for deeds and I know that we would not receive the deed until the loan balance is paid in full. Is this something that could be done at the closing table with our end sellers and our current seller? I know that if we do a contract for deed, it would keep the subject to loan from being due-upon sale. I’m just unsure of the logistics with paying off the contract for deed before reselling, if this is even possible. Thanks in advance!