Subject to Purchase Agreement

[Nathan Frost]

Anyone have a solid Subto Purchase Agreeent that covers the part Pace Morby mentions.  Looking for a solid Purchase Agreement Template that covers this.

Basically saying - where I borrow $5,000 for the EMD, and it is from a Gator/PML during the option period, that the seller waives their rights to object to the release of the deposit to the buyer.

[Andrew Postell]

@Nathan Frost thanks for the post.  Always good to hear from a fellow Texan.  I would HIGHLY recommend getting with someone here locally if you have found a property that would work as a "Subject To" transaction.  There are several things that need to occur in that process.  "Sub To" deals are hard to find...and many that are "found" end up being good deals, but not as "sub to" deals.  So working with someone that can show the ropes first hand will help you find more deals faster.

I would also state that we don't provide ANY earnest money on 99% of the "sub to" deals that are executed on. Now, if you want some local advice, I would suggest speaking to Roger Paschal.  He wrote a great book on Subject To (of which, Pace Morby wrote the foreword on) and he's right here in Texas. This is the website to the book: https://subject2book.com/  Bigger Pockets doesn't let us post people's phone numbers but I think you can reach out to him there.

Anyway, I hope that helps in some way.