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Updated over 9 years ago on . Most recent reply presented by

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Jeff Ashachik
  • Investor
  • Raleigh, NC
3
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17
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A little confused about this purchase agreement contract

Jeff Ashachik
  • Investor
  • Raleigh, NC
Posted

So I downloaded a purchase agreement from the BiggerPockets File Place but I have a question about the pricing section, this is what it looks like:

SALE PRICE:                $_______

SUBJECT TO: ______  $_______

EQUITY:                       $_______

What do the "subject to" and "equity" lines mean and what needs to go there? Why isn't "sale price" enough?

thanks!

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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,510
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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

This is obviously for a sub2 deal.  The "sub2" is the balance of the loan, and the "equity" is the cash you are bringing to the table, to equal the sales price.

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