Subject To Purchase Contract


SUBJECT TO:Buying a property “subject to,” means purchasing it subject to the existing financing. In other words, the loan or loans and any other liens or encumbrances already on the property stay there without a formal assumption by the buyer. The owner deeds the property to the buyer and the buyer begins making the mortgage payments. See line 203 of the standard HUD-1 form which is specifically for “existing loans taken subject to.”

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