How to close a Sub2?

[investinAK]

What is the closing process of a subject2 sale? I think I get it, but some clarification wouldn't hurt. :)

[WilliamGA]

My recommendation for closing a sub2 is to use an attorney if you are new to the game.

Buying real estate is serious and there are figures followed with lots of zeros so you don't want to screw that up.

If you are more experienced or in a situation that must be closed fast, you can close it yourself. The documents you need will vary with how you take title and your state but the basics are a deed, power of attorney and HUD1. I use a number of disclosures but that is a matter of preference.

Most of these docs will need to be notarized but that can be done at any bank and lots of other places.

File the deed at the courthouse and you own the property.

WilliamGA
William Tingle
www.Sub2Deals.com

[Dan Auito]

Ryan, the absolute best way to approach this is to go to Williams site and get his full monte course on this. He gives you everything you'll need to do it right! Again I make the same offer here, as I have his course. If you are not satisfied with it, I personally will refund every penny you spent on buying it. The odds are good you wouldn't trade it for twice the price once you see how well Will has put this together! Build your library and your arsenal, start buying these courses and using the tried and true methods to actually begin doing deals!

[investinAK]

Thanks Guys!! I will definitely head on over to William's site and check out his course, as I LOVE his articles. For this deal it won't matter a heck of a lot, as the seller is leaning towards a regular purchase agreement which still floats my boat-for this deal. When I have the cash reserves, then I will look at more sub2 deals.

...I may have a buyer or two lined up too!! :)

Sure helps to have family in the area, so they can refer people in need of homes to you! :)

[investinAK]

I must be blind! I didn't even realize THE William Tingle replied to my thread! :praise: I look forward to taking your courses one of these days! Thanks for taking the time to reply to my little post! :)