What are subject to deals?
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What are subject to deals?
Subject to deals are a form of owner financing. The current owner already has financing in place. Instead of the investor going through the painstaking (and costly) task of applying and being approved for a new loan, the investor simply takes over the sellers existing loan.
What is a sub to deal?
Subject to Financing Defined In a subject to, sometimes called a subject 2 deal, the existing financing that a homeowner has setup is taken over by an investor. This route is basically paying for the mortgage already in place through an agreement with a homeowner.
What does existing financing mean?
Existing Financing means the loan in the original principal amount of $00, evidenced and secured by the Existing Loan Documents.
What is cash to new loan?
A cash to new loan purchase means that the seller wants all of the payment for his house in cash from the buyer. The cash to new loan is in direct opposition to the mortgage assumption, a deal in which the seller accepts only cash for the equity that he already has in the property.
When a property is sold subject to the mortgage the?
The term “taking subject to” is when the buyer incurs no liability to repay the loan. The loan stays in the seller’s name, but the buyer gets the deed and therefore controls the property. Although the buyer makes the mortgage payments, the seller remains responsible for the loan.
Why must a deed be acknowledged?
A grant deed warrants that the grantor actually owned the title to transfer. The deed must be acknowledged before a notary public or other official authorized by law to administer oaths. The reason for notarizing is to provide evidence that the document is genuine as transaction documents are sometimes forged.
What does C O mean legally?
in care of
What does C O mean on Instagram?
Commanding Officer
What does C O stand for in real estate?
What is the Certificate of Occupancy, and why is it such a big deal? Buy. View All.
Can you live in a house without a CO?
A CO must be issued for your property before you can legally take up residence in the home. In many cases, your insurance company also may require one, so if you move in without one is not only illegal, if there is a fire, etc.
Can you sell a house without a CO?
In California, a C of O is required for all new construction, changes of occupancy, renovations and additions, but the rules of other states might differ. In most cases, a Certificate of Occupancy is not required to sell your home, but you are obligated by California law to disclose any known defects before the sale.
What does C O mean after a name?
What does it mean? Often abbreviated as c/o, “care of” means through someone or by way of someone. This phrase indicates that something is to be delivered to an addressee where they don’t normally receive correspondence.
What does C O mean on an invoice?
Care/Of
