Buying a House "Subject-To"

Buying a House “Subject-To”

It is possible to buy a home by simply taking over the mortgage payments white leaving the existing mortgage intact. The more complete way of saying it is “purchase the property subject to the existing financing.” This is legal in all fifty states, even if the loan is non-assumable (which is most loans today). 

The buyer takes title to the property and pays on the seller’s loan until paid off. There are a few issues beyond the scope of our 2-minute format. Click here if you want to go a little deeper. 

Coming Next Week:

• Monday: Why Agents Should Be Investors

• Tuesday: The Construction Agreement (free download)

• Wednesday: The Lease Sandwich: A Case Study

• Thursday: Deal Pipeline Series Introduction

• Friday: First Steps to Building a Deal Pipeline