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How often do lenders actually enforce a due-on-sale clause between co-owners?

My partner and I are both on the deed to our Pennsylvania home, but only he is on the mortgage. He is transferring his share to me through a notarized quitclaim deed, with no money changing hands, and he will remain solely responsible for the payments. I understand this could trigger the due-on-sale clause. How often do lenders actually enforce that between existing co-owners?

2 Answers

What happens to the remaining mortgage debt after a property sells at a sheriff's sale for less than what's owed?

I'm considering bidding on a property at an upcoming sheriff's sale, where the mortgage balance is around $150,000 but the property is expected to sell for closer to $60,000. I would like to understand what happens to that remaining debt after the sale, and whether it could somehow follow the property or affect me as the buyer.

10 Answers

How Can Investors Evaluate a Property Before Buying a Tax Lien?

Evaluating a property before purchasing a tax lien certificate is an important step in real estate investing. Investors should look beyond the amount of unpaid property taxes and understand the property's actual value, physical condition, ownership history, and any existing liens or legal complications.nnResearching local tax lien laws is equally important because redemption periods, interest rates, auction procedures, and foreclosure requirements vary by state and county. Investors should also consider potential legal fees, maintenance expenses, and other costs before deciding how much to bid.nnA thorough due diligence process can help investors identify potential risks and make more informed investment decisions. Reviewing public property records, checking comparable sales, and verifying tax information are useful starting points.nnFor additional guidance, Scalance Global has published a tax lien investing guide covering due diligence.nnWhat property checks do you consider most important before purchasing a tax lien certificate? Are there any common mistakes that beginners should avoid when researching a potential investment?

7 Answers

We put a contract on a home with the contingent that our home sells

Hello, thanks for your input and help. We put an offer on a home, and our home has not sold yet. If our home doesn't sell, who pays for the appraisal on the home we put an offer on? If the home doesn't sell, do we get our earnest money check back in full? If it doesn't go through, can we get a new realtor and put an offer in on the same home right away? We feel like our realtor isn't really trying his best to sell our home.

10 Answers

Any recourse when a listing got the bedroom count and electrical wrong?

The house Im under contract on was listed as a 4 bedroom with 200 amp service, but its actually only a legal 3 bedroom with 100 amp electrical and the seller wont budge on covering the fix. Im past my contingencies now so is there anything I can actually do about the listing being wrong?

6 Answers

me and my two brothers inherited our moms house and i want to sell but they dont want to, what happens if we cant agree,

me and my two brothers inherited our moms house and i want to sell but they dont want to, what happens if we cant agree, can one of us force a sale

14 Answers

my house has a cracked foundation and i need to sell soon but dont have the money to fix it first. can i still sell it l

my house has a cracked foundation and i need to sell soon but dont have the money to fix it first. can i still sell it like that or do i have to fix it before anyone will buy

7 Answers

Can I get any recourse for a roof problem my inspector missed?

I own a townhouse with no HOA, and theres a shared roof section between my unit and the neighbors that started leaking because of work the neighbor did years before I bought. My agent told me at the time all the neighbors had gotten new roofs together, but that wasnt actually true and my inspector never flagged the tar seam either. Now the neighbor wont cooperate on fixing it, I cant rent the place out until its resolved, and I dont know if I have any recourse or if I should just sell it as is.

8 Answers

Should we sell now that our neighborhood has taken a downturn, or ride it out?

We live in a 1900 sq ft 5 bed Victorian in a neighborhood that was up and coming when we bought 15 years ago, but its gone downhill since then with more crime and the city not really stepping up. If we sell now we'd be taking a lowball offer since everyone knows the area isnt doing well, probably 50k less than if we'd sold last year. The house also needs some work before its sellable which would eat into what we'd have left for a downpayment elsewhere. We have four kids though so finding another 5 bed in our price range feels impossible, and Im not sure if riding it out or cutting our losses now is the smarter move.

8 Answers

should i buy a house with my boyfriend?

we aren't married yet but probably will be at some point. We want to put money in a house instead of renting. Can we both sign for the mortgage? what happens if we break up or we want to sell later?

7 Answers