Pitfalls to Land Contract and Subject-To?

[Brandon G.]

For all you BP, creative financing experts out there;

Have you ever bought a property via Land Contract/Installment Sale AND took it Subject-To the existing mortgage?

This seems to be a great strategy (if it can be done) to take advantage of existing financing and to spread out the sellers tax bill. What do you think?

Thanks in advance for your experiences/ideas…..