Candidate for "subject to:"????? - Posted by Jim C.

Posted by Mike Daly on March 08, 2002 at 08:56:33:

The agent is very likely to screw up the deal, so either wait until their listing expires, or see if the seller is willing to terminate the listing agreement.

With subject to, the mortgage payment is often more important than the loan amount. If it’s low enough that you get positive cash flow then you should be all right. If the market value’s near what he’s asking, definitely don’t give any cash upfront, except maybe as an advance monthly payment to make you appear more credible.

Candidate for “subject to:”??? - Posted by Jim C.

Posted by Jim C. on March 06, 2002 at 11:41:48:

I am currently looking at a property that is asking 89000 and is rented out for 950/mnth. The seller only owned it for 1 year and had to move to Kansas. I’m in Pa so he’s a long way from his property and is motivated to sell. However he has a large mortgage on the property, FHA with about 83000 left on it. So my question is, Is this a candidate for “subject to”?

Also, there is a real estate broke involved. What do I do about her if I can convince the seller to go “subject to”?