sub to owner refinance - Posted by Stewart

Posted by Stewart on August 12, 2003 at 18:08:51:

I thought of that but wasn’t sure. You want to be able to reference the specific loan for accuracy purposes(terms, rates, etc) but the loan will change when it is refinanced. So, I am wondering whether you would write a new agreement or just add onto the existing P&S the new loan info.

sub to owner refinance - Posted by Stewart

Posted by Stewart on August 12, 2003 at 15:34:08:

One thing I haven’t been able to figure out yet is … in a situation where you would have the seller refinance to get the cash they want (assuming the equity is there) how do you document that? What do you have that says, they go get the new loan and the deal will proceed from there? If I were a seller I might want something that doesn’t leave me hanging if the buyer changed their mind.

Re: sub to owner refinance - Posted by Doug Pretorius

Posted by Doug Pretorius on August 12, 2003 at 17:28:18:

Ahh…how about a purchase agreement that is subject to the seller refinancing.