Sub2 step by step - to be completed

General Real Estate Investing
1

I haven’t done any sub2 yet but am preparing for it.

Here what I have got so far. Please add in…

I assume provided this property has equity if not do l/o. Make sure it’s not in pre-forclosure, NOD state etc.

  1. called bank and verifed

  2. notarized Warranty Deed - record this?

  3. Option to Purchase agreement Subject to - record or keep it yourself?

  4. Memorandum of Agreement - record?

  5. Letter of authorization to lender for notice

  6. Limited power of attorney - record this or keep it yourself?

  7. Bill of sale - Not sure about this item?

  8. Letter to insurance company to add me
    (put all in LLC}

  9. Buy title insurance

  10. Maybe put it in trust?

What documents do we need to record at couty?

Any other things I have missed or assumed. :slight_smile:

2

cainvestor,

Glad to meet you.

Probably record a statement that you were “under the influence” if you try to do a Subject To deal, without having the proper knowledge.

For someone to guide you through the “step by step” with all the State Specific forms you will need and how they apply would be difficult if not impossible in a post, at least I would not want to take responsibilty in a post. Of course if I did I would also record an “under the influence” document along with you.

Find a mentor, go to a local creiclub, purchase a course, but don’t figure that you can receive the proper instuction in a post to effectively execute a Subject To deal.

John $Cash$ Locke