"Subject To" Residential Property

Buying "Subject To" Property   Buying real estate "Subject To" is a technique that can allow you to acquire a property with virtually no cash for new loan financing costs by leaving the seller's existing mortgage in place. This means that you do not have to get a loan to buy the property because you have purchased the property "subject to" the existing loan or loans. Practically, this means that the owner deeds the property to you and you both agree that you will make the payments on his mortgage. Since the owner's name is still on the loan he does remain liable for the payments however. While there are many benefits to investing in real estate using subject to techniques there are a couple of pitfalls that are not avoidable. The most important drawback of subject to purchases is the Due on Sale Clause (DOSC) that nearly every lender utilizes in their loan documents. This clause states that nearly any transfer of the property that occurs could allow the lender to call the loan all due and payable immediately. But at the same time it would be extremely rare that the lender would call the loan due if payments are current due to the costs of foreclosure. Also to the Buyer(s) it is like any conventional deal of home ownership except the Buyer(s) did NOT have to apply or qualify to get a new loan, just assumes the existing Seller(s) mortgage(s). The new Buyer(s) can live there, rent it or sell it. Again if  the Seller(s) is in foreclosure and the back payments are not too high and there is some equity, then the new Buyer(s) can pay the loan(s) current and reinstate, but do NOT do as a Short Sale. Often times the Seller(s) will actually pay the Buyer(s), no really, it's true, to do the deal to protect there credit.   To learn more about the amazing value of buying real estate property subject to please contact us  at 360 710 2607 or Toll Free at 1 888 605-4525 Also please Click Here and fill out the Form to infrom us what type of property you are looking for                    Lease Purchase Option Property Lease Purchase Homes - Do you have credit issues or Work History not long to establish credit? We understand. Check out our lease purchase home listings. This is your single source for Puget Sound area lease purchase home listings. We specialize in assisting people who want to own a home, but have credit issues that don't allow them to purchase right now or not along enough work history to establish credit... Our rent to own program is just the thing for you. Click here for additional information. New Visions Realty LLC takes the worry out of purchasing your  real state  property, and to serve as a true advocate for your best interests. We will help you secure the best price for that property as well. Give us a call at (360) 633-0000 or Toll free at 866 605-4525