Investing in a Real Estate 'Subject To' Deal.
Any comments on how to properly structure a Subject To Deal including all necessary forms, steps, and documentation?
Thanks in advance for your replies and comments.
Dan Durham
I would check out John Lockes course on this. The course will give you a detailed overview on how to do this sort of transaction. Here is the link.
in the state of florida this is what you need,
trust doc's- deed,agreement,etc
quit claim deed
limited power of attorney
you need to get it notarized, so find a traveling notary.
authorization to release information.
SUBJECT TO NOTICE(CYA LETTER)
JUST STATE THAT YOU ARE NOT RESPONSIBLE FOR THE LOAN AND THAT THE BORROWER KNOW'S THAT HE IS STILL RESPONSIBLE FOR THE LOAN,
letter to insurance company, to add additional insured (you)
you might want to get a separated policy, cause it raises a Red Flag to the bank,
you want to check the marriage statue cause even if he/she brought the house before they were married the spouse must sign. so good luck, and do make a deal for the sake of the deal... make sure it's good and you know how you're going to make money...