First deal subject to - Posted by KT(PA)

Posted by WaynePa on July 18, 2001 at 23:32:07:

Let me know when you get an answer. By the way, what part of Pa. do you live?

First deal subject to - Posted by KT(PA)

Posted by KT(PA) on July 18, 2001 at 21:14:38:

loan amount is like 650 per month it is a fha loan. Seller actually pays 782 per month because taxes & insurance are already rolled into this amount. When taking subject to am I actually assuming the 782? thanks for any feedback.

one more question what about transfer tax dont mind paying it but do i pay 1% when it goes into trust or 1% when I transfer deed and 1% when it goes into trust therfore 2%.(this question is for the PA people) thanks again for feedback.

Re: First deal subject to - Posted by Michael

Posted by Michael on July 19, 2001 at 01:39:36:

If the payment is 782 PITI then you had better expect to pay 782 per month. It would be hard to trust a motivated seller, who no longer owns the home, to pay the taxes and insurance.

Hope this helps.

Michael, KY.