Updated over 5 years ago on . Most recent reply
Costs Associated with "Subject-To" Purchase?
I have a lead on a "subject-to" purchase where I would be taking over the mortgage of the seller. I just want to make sure I have all the closing costs accounted for so I can analyze it correctly. The last thing I want is to have a 10-15% CoC deal turn into a stinker because of thing I've missed.
This is what I have so far:
1. Closing costs (title, bank fees, etc.)
2. Inspections (general, piping)
3. Rehab
What am I missing?
Who usually takes care of and pays for the power of attorney paperwork?
On a related note, what are typical returns people look for in "subject-to" deals?