Cash for Deed Arrangement

[Ray Harrell]

A buyer wants to purchase my property using a "cash for deed" arrangement. We still have to talk but the gist is below. Has anyone heard of this? What about the water bill? I want to be as disconnected from the property as possible. Any risk for me?

[Wayne Brooks]

@Ray Harrell Understand that what you are describing is a “subject to” (subject to the existing mtg).  The problem for you is that mortgage remains in Your name.....it will affect to borrow in the future and if the buyer doesn’t make the payments on Your loan, then You get foreclosed on and possibly on the hook for any short fall.

Generally, it is never a good idea to sell sub2....unless you are desperate and about to lose the property to foreclosure anyway.