‘SUBJECT TO’ advice and tips

[Account Closed]

Hello, I'm glad to have an opportunity to bring forward a concern of mine. I'm pretty new in the RE World/wholesaling but I have some general knowledge. I have found a distressed seller. They want to get rid of the property ASAP, circumstances have made it a hassle to pay the mortgage. This would be my first wholesale, if I was wholesaling it. But I'm actually interested in purchasing ‘Subject-To' for myself. Property would definitely be a fixer-upper, it would cost anywhere from 15k-20k to rehab although it could be cut down by doing the work myself. ARV was approx $189k, seller still owes $134k. I've read up on subject to existing loan stuff here on BP, and through YouTube , I'm out here in California and I just wanna make sure I know what I'm doing.

Thanks for your time

Sincerely, Issac.

[Wayne Brooks]

Use an attorney, there are disclosures about risk to the seller that the seller needs to execute.