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November 03, 2010
Take over payments refers to a strategy used to buy real estate with no money down. Assuming home mortgage loan payments is a relatively common practice amongst real estate investors, but individual buyers can participate in this home buying strategy as well.
Take over payments is known as Subject To and involves transferring property rights while leaving the loan intact. The property rights are 'subject to' fulfillment of the contract. One crucial aspect of Subject To sales is most mortgage loans include a 'due on sale' clause which grants banks the right to demand payment in full when property is sold.
March 17, 2009
Why would anyone want to buy a house in today's recessed market? Actually, there are several reasons. First of all, housing prices have reached an all-time low; making real estate a great investment for buyers who desire to hold the property for several years. One thing is certain, housing prices will eventually rebound. Investing in real estate today can potentially yield a tidy profit later.
Another reason to buy a house today is the fact there are so many options. In the past, most people bought houses through realtors. They found a home they liked, made an offer, and obtained financing from a lender.