Skip to content
×
PRO Members Get
Full Access
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime.
Level up your investing with Pro
Explore exclusive tools and resources to start, grow, or optimize your portfolio.
10+ investment analysis calculators
$1,000+/yr savings on landlord software
Lawyer-reviewed lease forms (annual only)
Unlimited access to the Forums

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

9
Posts
2
Votes
Tyler McEwen
  • Johnson City, TN
2
Votes |
9
Posts

Subject-to deal going to forclose and couple divorcing

Tyler McEwen
  • Johnson City, TN
Posted

Hey guys, I received a call from a bandit sign last week from a lady who is behind on her mortgage payments.  She says she's behind at least 5 months. Possibly  a few more... Claims that pay off is somewhere between $160,000 and $170,000.  I went and looked at the home tonight and its in very good shape.  It has a newer roof and heat pump; with some new paint, carpet in some bedrooms and a little landscaping this place should easily bring between $240,000 and $250,000.  She doesn't have time or feel like listing the place and trying to sell with an agent so thats where I came into the picture.  I got her to agree on a "Subject-to" deal tonight verbally. She says her rate is fixed and so on and so forth.  I figure I should do my normal due diligence (title search and home inspection). 

Here's where it gets confusing.  She's owned the home for 20 years and the tax records online only show the home in her name.  Her first husband passed away about 9 years ago (they lived in this home together).  She is now re married (Not sure how long this marriage has been in place) and just recently filed for divorce with her second husband.  She claims she has until May 29th to get rid of the home before it goes to auction.  

I've never done a subject-to deal, this is only my 3rd deal all together.  If purchased I plan on a quick and small rehab before selling.  Does anyone have any suggestions on dealing with the divorce and husband issue? I'm just trying to cover all my bases.  Does he have any rights or say so in the situation?  I've already spoke with an attorney about the "normal" subject-to deal but I just learned about the divorce situation tonight, so I plan to call him tomorrow and see what advice he has.    Thanks for any input or help!  I don't post much on the forums but I bet I've listened to every single podcast at least twice!! I love it!

Loading replies...