Should You Be Worried About the Due on Sale Clause?
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- Опубліковано 19 чер 2024
- What is the process of the due on sale clause and should you be WORRIED about having this acceleration clause called on your loan?
Pace Morby explains why the due on sale clause is not a problem and why, if the paperwork is done correctly, it’s nothing to worry about. He breaks down the entire process of a due on sale clause in a subject to transaction and dives into how he’s overcome the clause multiple times. Are you worried about getting the due on sale clause called on you? If you are, this video is for you!
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Chapters:
0:00 - Intro
1:22 - Pace’s transaction coordination team
2:21 - Seller finance due on sale clause example
4:25 - What is the due on sale clause?
8:45 - Start of a Subto transaction
11:06 - Difference between deed and title
15:04 - When the due on sale clause happens
16:35 - Process of the due on sale clause
20:59 - Extra resources
22:41 - Why you SHOULDN’T worry about due on sale clause
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🚧🚧🚧 DISCLAIMER 🚧🚧🚧
❎ I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a UA-cam video for entertainment purposes ONLY ❎
The receipt of real estate is the deed. Thank you so much for making these videos. You are a genius, Sir 💡✌🏻
Informative Pace! Love how in depth you get with this. Learning lots!
Thank you! Always happy to see you here bro✌🏽
Just simplified escrow meaning. Thanks pace.
Excellent information! Looking forward to joining the sub2 community
Thank you Willie! Glad you enjoyed
Best in the Business! Pace always giving us gold! Thank you, Brother! 🙏 ( FDW Gator 🐊)
Thank you bro!
Thank you Pace and community I am learning a lot
Love to hear this bro!
9:13 I love how you explain these difficult real estate concepts by always coming back to something as simple as Grocery Stores and Automobiles 😆 ... So simple, yet so helpful ... You're a really great teacher, Pace 💪... Thank you for these super educational videos, my friend!
Thank you bro! Glad you enjoyed the video
If taking title subject to the existing lien seems risky to you, then try a "master lease" with "option to buy".
The financial parameters can mirror the "subject to" deal without the due on sale risk.
Pace thank you for this great content!
Thank you bro! Glad you enjoyed
I’m such a beneficiary of you can’t help it, Pace. Thank you. I appreciate you Pace.
Appreciate you ✌🏽
High level specialized knowledge, Thank you pace.
Thank you bro!
I just learned what escrow was - that explanation was 🔥 fire so relatable so simple which make it super easy to understand, now I can explain it that way and continue the chain of educating people on what escrow is ❤
Yess! Glad you enjoyed
I'm doing my hours on CE and you are absolutely right. I was surprised to see the land trust/ executory contract and that every realtor i deal with acts like it's a myth. It's in your required training
Pace was born to teach. Wish all all schools had teachers like him.
That's one of the best compliments I've ever gotten, thanks man!
Thanks. Just found your videos recently. I feel like I can buy the whole world.
That's the spirit! Glad you like them!
In the 2008 GFC, lenders were pulling deeds "with copy" to learn who sold the property subject to their existing debt lien.
The lenders tried to accelerate their "due on sale" clause because they were desperate and wanted to be paid off.
This next collapse and Greater Depression will be worse.
Very helpful
Happy to hear that
I live in TX. Should I do land trusts from the get go?
this is the biggest concern of everyone who is starting to get acquainted with this opportunity
Hey pace more blessings to u bro
I’m broke have a family and learning free because I can’t afford yet 🙏💪💪💪
But I have been making calls to on market calls. I have an agent twiddle dumb in my azz saying it’s
Illegal to fix a claus 😂
Cmon pace I need you to correct this dude
I tried explaining to him for what I learned from you he is in disbelieve 😂
I just learned what escrow was! haha
Obligatory "I learned what escrow is" comment
I literally just talked to an agent today who's getting all flustered about a due on sale clause holy crap
Is the 35 days standard for the due on sale clause? Or can they refuse to give you that much time?
Correct thats why the lender wanted to be in first position. Why would the bank put a lien on their own property????
Capping on licensed agents about having other peeps do CE? You could've done w/o that, cuz you're standing tall and wealthy, right? You're way smart. Adept. Investor. I'm humbled, for sure. I just learned a few things as a lic. CA broker.
Hola pace!
Hey. In your master class you said don’t worry!
If you know how to get around it, don't worry lol
Watch the the whole video
@@PaceMorby Yep. I did. I commented in the beginning. Sorry. Always good info. Congrats on the new baby!
Thank you !
@@Myneighborhoodsolution
executive contract or land trust depending on the state
Learned escrow
Ohhh Escrow 😮
Thanks for all your help. I was looking for the link to the private zoom video of you talking to an agent and seller. I can't seem to find it. Can you please tell me where I can find it? it was 6:20 into the video. Thanks so much.
Right here man: resources.pacejmorby.com/due-on-sale-santa-clause/#form
Thanks....@@PaceMorby
Weird, the content is for buying a car with creative.
*voice of Neo: "I know escrow"
😂😂😂
I put my subto deal in my name just 2 weeks ago. Was this the in correct way?
If it's truly a subject to deal the deed will say your name but the MORTGAGE will not. If the mortgage changes names that's not subject to.
Deed in my name (not trust)or that’s in sellers name is what occurred.
The receipt of real estate is the deed
Yess🙌🏽
The receipt of the real estate is the deed.
Yess💪🏽
“The receipt of real estate is the deed” Pace Morby
Yesss
Supermarket escrow!
Your wife is a real estate agent, if I'm not mistaken...
The transaction coordinators are probably licensed agents, too.
Hey Pace. I'm unable to get access to the private Zooms because of a website bug. It's wanting me to put an email for my phone number..
Are you in Subto or Gator? Contact support
@@PaceMorby Subto. I got it to work.. had to put my email address as the phone number.