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Short Sales A-Z™ Online Class Chapter 25

Chapter 25
Exit Strategies – Subject to Existing Financing

In short sales, purchasing subject to existing financing is the acquisition of property by settling with some creditors and taking over the payments of other loans. This chapter covers the intricacies of this type of transaction.

Objective:

• Learn to successfully acquire properties by taking over existing loan payments.
• Know how minimize exposure by identifying pitfalls.
• Mitigate the risks inherent in this type of transaction.

Outline:

• Transaction Description
  • Transaction keys
  • Advantages
  • Disadvantages
• Risks
  • Risk mitigation
• Understanding non-assumable loans
  • Non-assumable loan risks
  • Mitigating non-assumable loan risks
• Closing Options
  • Use of escrow service
    • Advantages
    • Disadvantages
  • Without use of escrow service
    • Advantages
    • Disadvantages
• Closing
  • By using escrow service
• Transaction Flow chart
• Sample document analysis

Time:

• 09:23 minutes

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