What if an owner is willing to sell a property ?subject to? and give you 5 yrs. to pay off? What sort of documentation do you need in place to protect you from the owner changing their mind? What exactly is transferred by the owner to the investor on a ?subject to sale?, since the trust deed is held by the bank? Does the owner just ?quit claim? what rights he has? What exactly is signed over?
The final question, if you bought a home ?subject to? and a year or so into it you had a good equity position (assuming here that you had a few years to pay it off) is it possible to get a second mortgage or home equity credit line by the investor as the new property owner while the initial financing is still in place with the prior owner?