"Subject To" Contract

[Ian Smith]

I am putting my contract documents and have a couple questions about "Subject To" deals.

Would I use the same Purchase and Sale Agreement and then add the "Subject To" line items as an addendum? Or would it be a brand new P&S?

I am in Washington State if anyone already has a good contract they would like to share with me.

Thanks,
Ian

[Bill Gulley]

Ian, I suggest you use the base contract and simply say

This purchase is subject to that existing mortgage in the original amount of $xx,xxx, made on xx date of month, 2xxx, filed in book xx at page xxx in the Office of the Recorder of Deeds of anywhere, county, your state, the balance of same being credited at closing.

Or similar, written on an addendum or if there is space or an appropriate line in the financing section, you can write it there.

Trying to copy contracts and rewrite them is a pain with the chance of errors, just fill it in.