New guy asking a question again.
I have a question on how to frame a sub2 transaction to the buyer. I noticed in a previous post WilliamGA mentioned (not a direct quote): that he makes a trust with him already as the beneficiary, then has the owner deed the property into the trust. He also said that he doesn’t tell people to use the “estate planning” line when talking to the mortgage company.
My question is what do you tell the homeowner to tell the mortgage company without it sounding like your trying to hide something from them (the mortgage company)?? Or, Do you just give them specific instructions??? (like 1. list me as contact person, 2. change address, 3. tell them your deeding the property into a trust (no explanation), 4. change insurance to the trust )
A general question is how, to the people experienced with Sub2’s, approach the transaction and how do you frame it to the buyer that you’re not breaking any rules?
Thanks for any help.
TJ Carter
Ft. Worth
817.692.8661