Subject to Existing Financing - Posted by Garrett Deacon

Posted by Bill_AL on July 16, 2003 at 23:32:51:

I suggest that you talk to a local real estate investor who does subject to deals already. You can probably find this person through the local real estate investors club. People will help you, but it would be easier if your helpers were local and easily accessible to answer your questions. Wishing you the best!

Subject to Existing Financing - Posted by Garrett Deacon

Posted by Garrett Deacon on July 15, 2003 at 19:51:28:

Hello all and I would like to thank all who have graciously helped me in the pas with my questions hopefully some day I will be able to return the favor.

I also applolgize if this subject has been covered. Time is kinda short to search the board.

I am trying to put together a “Subject to Existing financing” deal. I have a couple of issues.

1.) How do I write up the contract.
2.) How do I provide to the seller some security that I am going to do what I say I’ll do.
3.)Where do I go to find a third party escrow/title company to handle the payments
4.)What other documents should I prepare befoe going over the deal withthe buyer.
5.) How do I handle questions from their investor freind comming to this meeting.

I am sorry for such a mouth full.

Thanx agina for your help

Re: Subject to Existing Financing - Posted by Cecilia M. Lumpkin

Posted by Cecilia M. Lumpkin on August 11, 2003 at 17:32:44:

Hi Garrett,

Hope all’s well. I read you question regarding ‘Subject to Existing Financing’ on CREONLINE and was wondering if you could share your learning with me. I have also put together such a deal and an concerned about where to go next. I have sold the sellers on the deal and have not recieved ANY push back from them (pretty amazing). What I am having problems with are Settlement companies who don’t understand the concept and feel the need to inform the mortgage company of the transaction.

How did you end up moving forward with your deal?

Thanks in advance for your help!