What does 'Sub-Purchase' mean?

Question

What does ' Sub-Purchase' stand for?

I cannot find its definition or meaning of the word on Google.

Please Help defining it!!

Thanks :)

Answer 1

I've been in real estate for 25 years and have never heard it.  It has to mean that you are purchasing a property from someone else who just purchased it but hasn't closed the sale yet.  Your name is not on the purchase contract but you really are the new buyer.  They are assigning the contract to you which is perfectly legal.

Answer 2

The prefix Sub means below. So I would assume it means perhaps below purchase. Now does that mean below purchase price? I don't know! Where ever you saw it if you can call on it and ask, then do!