Subject To | Real Estate Investing For Beginners
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Published 2022-03-08
Full Sunday Service episode:
• What Is Subject To In Real Estate
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❎ I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a YouTube video f
All Comments (21)
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That was the best way I’ve ever heard it explained. Hats off to Pace
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Definitely EXPLAINED at its best! I'm one of your newest subscribers!
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Prior to about 1978, literally everyone bought a house with existing debt simply by taking title subject to the existing liens and negotiating a payment schedule for the seller's equity. Then banks saw interest rates rising dramatically in the 70's and decided they wanted those higher interest rates. The banks invented the "Due on Sale" clause for renegotiating the interest rate, not to force the pay off the existing debt. Banks DO NOT WANT the property; they want the payments.
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Can you walk us through the process of the agreement on where to sign the paperwork & what not... I'm stumped on this process
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Incredible lesson and great analogies! Makes it seem much more intuitive. Skip McCain
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The grocery analogy was perfect
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Great explanation! You have a teacher's gift
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That was the perfect analogy, thank you for that. I’m going to use that example in a conversation with a seller
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brb going to see about sub to'ing someone's groceries at my local Wholefoods. Great explanation. You are a master of analogies.
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So well explained ❤
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TGGF(the go getter family) explains subject to VERY well. You are taking over not the existing debt of the mortgage because that stays w/ the seller however you take over their monthly payment aswell as the deed. 💯
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👏🏼 explained at its best 🙌🏼 very much appreciated. ✨
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Great content as always, Pace! - Michael
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Phenomenal analogy.
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After all is done signature wise. How do you go about recording the deed?
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How does it benefit the seller?
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In a sub to, could buyer still perform any kinds of helocs?
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What kind of deed do you get in this sort of scenario? General warranty deed? Or quitclaim?
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I am new here, don't the bank have the deed to the house or car, they won't release it until the items are paid off. How can one put the house in another person name if the deed is not paid off. I am just learning this! thank you for all of your help!
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great analogy, question what if you agreed to this as a seller and the buyer breaks contract, I signed the title over without notifying the bank when the bank come after me and sell the house do to foreclosure if it get that far the lender will then come after me for the rest of the balance can I then go after the subject to buyer for that balance since they broke contract ?
