Posted by JPiper on December 14, 2000 at 14:49:23:
When you take title subject to the loan, you take the loan as it exists. So if it’s an adjustable rate loan, those are the terms.
As far as “forms” go, I make offers with a residential real estate contract…I don’t use options. An option of course is just that, it doesn’t obligate you to exercise. On the other hand, you can turn a real estate contract into an option-like contract simply by inserting a contingency…like subject to an inspection, or subject to verification of the terms of the loan.
I would think that most sellers are going to be more accustomed to a real estate contract than an option agreement.