How to write a "subject to" on offer contract?

[Denny Robert]

Hi All,

I have an interesting deal in front of me. I found a seller who is behind on payments and is willing to sell "subject to" us taking over their conventional loan. I have an investor partner who will catch up and take over payments until we can get some minor work done and get it rented out. It will cashflow.

What I'm not sure of is what kind of language to use on the contract. My broker and title company will allow us to do the deal, but I want to make sure we get the cleanest language on the contract possible. Anyone that has done this kind of deal, how did you write the contract?

Best,

Denny