Asking for the Deed Subject to ? - Posted by Joel Ray (TX)

Posted by David Alexander on January 22, 2001 at 16:49:42:

First, understand, you will be violating the DOS clause. Does that matter to you? Not sure? The moment title (deed) changes you are in violation. Can you shield the look of that violation absolutely. You can deed the property into a trust and then have the beneficial interest transferred at the same closing.

Now on going for the deed. If you approach it the way you have stated you will not ever get a deal closed.

It needs to be more non-chalant, as in this is how I do business, or this is how I can help you.

Something like, the way I do business is, I could just take over the payments on existing loan, now understand title would change but I would own the house. Your name would still be on the loan, and that may be for a year, 3 years or maybe never, I dont want to guarantee I’ll pay off the loan immediately but I will make the payments, if you can live with that, then WE can probably work something out.

After you’ve answered all the questions and objections then say well if we can put a deal together I’ll go to my car and get a contract (that’s my close).

I always leave my contracts in the car because it fits with my personality of easy going.

I dont like looking like the guy coming to steal their property, they imagined and talked to 10 minutes before they called me.

If they let me go get the contract likewise, they know we are doing a deal.

Also realize that deeds are not a piece of paper that are passed from buyer to buyer. They are newly created at each transfer of ownership (except in the case of a trust). Once they are filed then the piece of paper means nothing, only what is filed does. If you went to the court house there could be 10 different deeds that have been filed in the past.

David Alexander

Asking for the Deed Subject to ? - Posted by Joel Ray (TX)

Posted by Joel Ray (TX) on January 22, 2001 at 15:51:02:

Could someone please post some “Subject to” phrases they have implemented when going for the “deed” I’ve searched and searched, found some good stuff (here and elsewhere), but my gut says to ask for a couple of more examples. And if I’m not mistaken, the “Subject to” provision when asking for the deed does not trigger the “Due on Sale” clause and the Loan stays in the Seller’s name,Right? Thanks in advance.

Joel Ray (TX)