Sub-to Closing?
How do you do a subject to closing when it comes time to sell? Does the original note holder have to be a part of it since his loan will be paid off? If it is his loan how do you get the appreciation money out of it?
Thank you for answering my questions. I realize they often sound a bit confusing.
Again, your selling on a land installment contract. When you buy you get all the loan information from the seller and you get a power of attorney.
when it comes time for your buyer to refinance the house, (or get a new loan if you like that phrase better), you will have all the loan information and the title company will do what they do and pay off the orginal lender, and you'll get the difference between what you sold it for and what the bank owes.
John Locke's sub to book is a great source of information on this subject, making the $150 investment is well worth it if your are serious about investing.