Posted by JohnWe (NoCA) on January 21, 2000 at 12:42:51:
When you take a property SUBJECT TO the existing financing. As an example, a seller gives you a deed, and you take over his mortgage payments.
“SUBJECT TO DEALS” - Posted by Lucas
Posted by Lucas on January 21, 2000 at 12:26:49:
What exactly is a “Subject to deal”???
I’ve seen people here mention it alot but I have no idea what it is.!
Re: “SUBJECT TO DEALS” - Posted by etr
Posted by etr on January 22, 2000 at 12:44:29:
Subject to basically means that any ownership rights or privileges specified in the sales contract are “subject to”, or require fulfillment of the specified obligations, such as paying mortgage or liens. they can be specified in the contract as ‘subject to’ clauses.
Re: “SUBJECT TO DEALS” - Posted by chris
Posted by chris on January 21, 2000 at 22:05:36:
In a subject to deal you take over the payments,BUT the mortgage remains in the sellers name. If you quit paying the blemish goes on their record. Make sure that you can handle the payments.
-Chris