Dallas Cash Offer sometimes will acquire or purchase property “subject to” the existing mortgage. This means essentially that the sellers note is not paid off but instead the responsibility of making payments is transferred to the buyer. The unpaid principle is calculated as part of our buying process.
You may ask yourself why would we want to do this?
The primary reason for buying subject to is to take over the seller’s existing interest rate. In many cases the interest rate on the seller’s mortgage is at a very low rate. This allow Dallas Cash Offer to save money on cost of capital or other ways of paying for your home. Ultimately we are able to pass this savings along to you! In some cases we can offer thousands of dollars more for your home!