Anyone have a good subject to contract to share?
I've used a TREC and short contracts to contract sub2 deals. It basically needs to say you are taking over their payments. You will likely want to get them to sign other docs like disclosures, mortgage release authorization, etc.
If done incorrectly, sub2s can be extremely problematic for all parties involved. We talked quite a bit about this at our meetup last night.
If this is your first time doing a deal like this, I highly encourage you to get with someone to help you through it. Even if you have to give up part of the deal, you will be learning in the process.
@Charles Nguyen, thanks. I've done plenty of them before and used TREC. Just curious if anyone had a really good one that really spells things out for the sellers. I know sub to is a touchy subject to some "investors". One of those you either love it or hate it! I only do it as a last ditch effort. It's just not my thing, but will do it if needed.
we spent some money to make sure our contracts say what we want them to say. I would recommend you ask a lawyer to help you do the same