How Do I Close A Sub-to Deal?
Ok - wow what a week! I just put two properties under contract today - and have 3 more very good prospects - all for sub-to deals. My question is this ..... how exactly does the closing work? I assum I order title insurance from my regular title company - but do I use the title co to close as well and pay transfer tax, etc.... or is the process simpler than that? Also - what form do I use to secure my agreement to pay the mortgage? I have a very good purchase contract, but I need the other forms to complete my sub-to.
Thanks folks! For the first time since I started this business almost a year ago - I FEEL GOOD!!!!!
Not trying to make you feel bad, but shouldn't you have the process down BEFORE you cut the deal?
You likely won't get any details here unless someone privately guided you. I'd buy John Locke's course. You won't have any more questions about Sub to after that.
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MikeB,
Why can't you do Subject to in Northern Ohio? They have different laws there than the rest of the country?
Quote:
On 2004-11-11 17:08, flyingnutjob wrote:
MikeB,
Why can't you do Subject to in Northern Ohio? They have different laws there than the rest of the country?
Yes, that's it. You nailed it. So don't even try!
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