Hi everyone, this is Aleem Peermohamed the Mortgage Broker. In Today’s Mortgage Minutes I’d like to talk about subjects, and more specifically, what a subject in a contract is? What Is A Subject To Mortgage?
When you are making your decision as to what subjects you will need to include in the contract, you most definitely want to consult your realtor. You also want to speak with me before you do it to find out the financing requirements. This will give us a better idea of how much time we are going to need to “remove” those subjects and make the contract binding.
As mentioned above, in a typical situation the subject removal period on an accepted offer is 7 days. Of course it’s not always possible, but that’s sort of the benchmark. A little bit longer certainly doesn’t do any harm and it will take a lot of pressure off. Keeping in mind that we must also allow enough time for an appraisal and inspection if required, and also in the cases of strata – we need to allot for enough time to review the minutes.
In a nutshell, what is a subject?, It’s the conditions to your offer. If you have any questions on subjects or any other mortgage matter, feel free to give me a call.
Vancouver Mortgage Broker, I’m Aleem Peermohamed.
Searches Related To What Is A Subject?
subject to mortgage assumption, property subject to a mortgage, transfer subject to mortgage, selling property subject to a mortgage, difference between mortgagee and mortgagor, relationship between mortgagee and mortgagor
Articles To What Is A Subject?
Mortgage Pre Approval – How We Saved A Client’s Deal
What is Property Transfer Tax (PTT)
What is a Subject?