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I Currently work for an MNC in Kerala, I've 4.4 years of experience in software development. Currently leading a team of 6 developers. Recently I got an offer from Rakuten India, Bengaluru location. As Senior Software Engineer 1, Rakuten offered 13.5L as CTC + 1.4L as joining bonus. My current CTC is 7.2LPA. As per my research on the salary for this role at Rakuten, the offered one is low. 48days of notice period is left What i can expect from Rakuten India for this role?,How can i negotiate?
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In concept what you’re describing isn’t that different than a contract for deed which is probably the most common form of seller provided financing, at least in the residential marketplace.
Subject Expert
I don’t have experience, but I know this is a thing. Often referred to as “Sub to” or “Subject to”. Can be great for all parties if done right!
Is this property currently a primary residence? If so, selling the property as Sub To might cause problems with the homestead exclusion, so be conscious of that.
Subject Expert
Yes, first $250k if single / $500k if married and you lived in the home as your primary residence for 2 of the last 5 years.
Yes I have bought homes this way before. Technically, it’s a little different than “subject to” but similar idea. The advantage for the seller is that, instead of recognizing all the income from the sale in one year, they can spread it out over a number of years (which in some cases, keeps their tax rate lower). Also, they get interest income if they didn’t have another better use for the sale proceeds.
No, I don’t use an escrow company. I just pay the property taxes twice a year when they come due and pay for the insurance directly to the insurance company. You could use an escrow company if you are concerned about any aspect of that, but it will just be more costly. Technically, the seller should be sending me tax documents but they never do, and even though I don’t receive a 1099 I still deduct the interest and it’s not a problem.
Installment sales, or Contract for Deed transactions, are largely illegal or voidable in Texas. If you’re buying, get a Deed in exchange for signing a real estate note and mortgage lien documents.