I’ve read about this on american sites, and I know most of our Autralian culture is being Americanized at a fast rate.
Have we adopted their real estate system as well?They have an interesting system called “subject to” and I want you to visit this site:
http://www.creonline.com/articles/art-183.html
and please tell me what you think. Do we have it? Have you tried it? It it legal here, and would you recomend it to a FIRST time property invester?Thanks!
Hi all,
THis is certantly food for thought, however could you please outline how it works as i have read the article but am unsure how it works….
Regards Josh[
]Chtulu, the article was ok, but what interested me more was the author Charlie’s hairdo! My oh my, what a bad bouffant day!
kay
hi josh, i have a ‘mullet’ to, they rock.
I’ve been trying to understand it, you basically buy a hose that costs you $0, they sign the deed over to you, so you own the house instantaniously (sp?), but you don’t assume the loan/mortgage.
You still pay them, through the rent you are given.That’s all I know [xx(]
I was wondering if anyone in australia knew anything about it. (I’m sydney based my self)
I intend to buy 0-130 props. tomorrow, I hope they have it in stock.
It’s interesting that the person who ‘owns’ the house has the deed to it. I don’t think our banks will ever relinquinsh their hold on the title!! This would make this scenario impossible here in Aust.
Impossible? Nothing ever is, and I’m sure someone could work out some way to do it if they really wanted to.
Cheers
Mel
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