Do you want to sell your house in Jacksonville, Florida but not sure the best way to get it done? We understand! We’ve been buying houses in Jacksonville Florida since 1998, and can provide you with a solution that is sure to make you happy. You see, we’re experienced in several creative methods of purchasing your house. If you’ve tried selling it the “good old fashioned way” (listing it with a Realtor or putting the For Sale By Owner sign in the yard), and you’re not having any luck, then you probably want to talk to us We can Take over Payments.
Listen, when it comes to selling your house, there’s more than one way to skin the cat. (I’m a big animal rights activist, so there is no harm to animals intended with that metaphor). Most every seller that I talk to, they don’t realize how many creative solutions there are to get their house sold. Because it isn’t part of what’s normally advertised. Let me tell you about one solution in particular that is a wonderful exit strategy for many sellers who want to sell the house quickly.
It’s called a Subject To transaction. In this transaction, the seller deeds the property to the buyer, who in turn makes the payments on the loan directly to the lender going forward. After the new buyer purchases the home, the seller is no longer involved with the property.
Here are some common questions that sellers have about selling their house Subject To the existing financing:
Can the lender call the loan due if the property is sold subject-to?
Technically yes, but practically no. Whenever a home is sold, the underlying lender technically has the right to “call the loan due”. Almost all notes have a “due on sales” clause in them that give lenders this right. That being said, we have never seen a case in which a lender actually calls a loan in which the loan payments are being made in a timely manner. Logically speaking – it would not make sense for them to do so. Additionally, it would take the lender some effort and research in order to even know that a sale took place. Finally, there are some strategies to further disguise the sale, however, it is debatable whether these strategies are necessary.
Can a property be sold subject-to when payments have been missed?
Yes, in some cases if the home is worth more than the loan and cost of sales, the buyer may be willing to make up the back payments and buy the property subject-to.
If you have a house that you’re ready to sell TODAY, without waiting any longer, then let us come look at the house and talk to you about one of our solutions!!