I’m confused…what is the difference between - Subject 2 the existing financing and a Contract For Deed? Aren’t they basically the same thing?
CF
Subject To: You, the buyer, take title to a property and take over payments on the (seller’s) existing loan (without assuming it).
Land Contract: A promissory note (installment note/contract), where the seller retains title until the borrower pays off the note. When the buyer pays off the seller, the seller transfers the deed to the buyer.
These are both financing techniques, but one immediately transfers title, while the other one does not.