Can You Do A Subject To AND Seller Finance Deal?
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- Опубликовано: 8 сен 2024
- Got a property with 50% equity and wondering how to structure it? Subject to the mortgage and seller finance the equity - we call this a hybrid! Let me break this down further... Your seller may be hesitant if you don't know how to explain this properly, listen in on how to convince your seller this is a good solution for them!
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Took a lot of googling to get here, looking at an assumable mortgage for about 50% of ask as well, will be following up on this tomorrow thank you!
This is amazing 🤩 thank you for sharing 🙏 ✌️
It’s crazy how I wrote this idea out before I watched this. This video answered my question ✌🏾
Glad I was able to help out! Thank you for tuning in!
Sprinkle scorpions around the house, that's a good one.
haha! I know right!
Wow this is an amazing concept
So can you describe how the two work together. I have a seller who still owes $130,000 on their mortgage but wants to sell the house for $450,000 using seller financing. Thanks
How did it go ?
I have a question Pace kinda relates to this strategy. Is it possible to basically use subject to but instead of me paying a mortgage payments to the bank. I instead get the seller to finance me at 0% interest and the amount I pay them they also pay a portion of what out to the morgatge so technically i’m not the one paying the mortgage it’s basically like saying you bought a house straight cash and the seller pays off what he owes but instead of doing that in one big payment can i do that’s similar to a seller finance. Or would the bank initiate the due on sale clause for that as well since like they would see the house was sold to me but they didn’t receive their full amount from the seller. So can i have the deed pay the seller the money as a seller finance and the seller pays the bank their portion out of their own personal money ( the reason i’m trying to figure this out is because my religion doesn’t allow us to pay interest and I take that seriously )
@Karim Karimli Yes, me too, my religion doesn’t allow me to pay interest, therefore, is there any way we can seller finance a property under mortgage without paying interest or any money to a bank? @Pace Morby
I personally would never do that because you have no guarantee the seller will pay the bank. If they stop paying, you lose your investment.
@@PaceMorby Pace I appreciate your advise I think I came up with a idea though but I was first thinking I should keep it to myself but I wanna tell you since it can benefit more people. So i stead of giving the seller the money straight cash up front or whatever we can make a lease option agreement with them for a agreed amount of months until their equity is built and at the end of that period in the agreement they will sell to me/you the 100% they just built in the form of monthly installments ( you can have a tenant in the property during the lease option and seller finance to obviously pay them) this is perfect for me because i’m not giving em money to build their equity but instead lease optioning for let’s say a calculated amount of time then moving into them agreeing to seller finance me from the start of the agreement after the lease option is done.
I’m about to do this now.
Pure fire 🔥
Thanks! Appreciate this!
I’m doing that with my house I’m living in
Nice!
Love it 🤯
Thank you!
this is bananas
Haha!
Can you write hybrid contracts how ever you want?
Like how far the extension is until the payment is considered to be made?
Or how long you choose to pay them back on a hybrid
Subto student here - absolutely, the only payment you are obligated to make is the mortgage but you do not have to make payments on the equity until you and the seller agree - i hope that helped
@@italia50000006 Hey Mark, can i direct message you on facebook or insta? I have a deal that I'd like to get your opinion on using the hybrid method. - Jason
Also, are you transparent with the bank on a commercial property on a subject to deal? Seems to me like it’s a real quick action on the due clause.
QUESTION…
So in a seller finance/hybrid situation, as the deed holder, if I miss a payment to the lender, won’t that affect the sellers credit score, since the mortgage is in their name???
I may have that situation soon so I would like to know how to answer this question if it comes up…thanks in advance!
How would the seller handle the capital gain tax on the seller finance portion?
Is there a capital gains tax on monthly payments??
what if the property is upside down? Subject to Mortgage is 250k Current value 205k. wanting to offer a purchase price of 205k and seller finance so they can recoup some losses via interest.
Oh my gosh I love this... trying to work on one now. Seller has some equity but the property isn't moving so I have peaked there interest on a subto with seller finance there equity. Do you have paperwork or boiler plate letter stating some more of the specifics?
Did you ever find paperwork or an offer letter example? Looking to submit an offer with sun to + seller finance but can’t find much online
@@maryb5696 no i did not. sorry
@@schufledoes i ended up finding stuff online actually . I just searched NJ purchase agreement (my state) and then searched for NJ seller finance addendum and i was able to input my terms and contingencies for my offer. Hope that helps!
Do buyers still need to pay PMI if down pay is lower than 20%?
Great video btw!!
Also if such a low down payment on the table how the agents going to get paid for commission?