Texas Assumption Transactions

An Assumption Transaction is the transfer of responsibility for repaying a previously obtained loan.

A real estate buyer may “assume” a loan on the property already in existence between the lender and the seller.

After an agreement has been signed, the new buyer will take over payments and receive the property.

Check out Real Estate Lawyer on Foreclosure Auctions

In an assumption transaction, the buyer takes title to property by virtue of an “assumption deed” that typically contains both a vendor’s lien and general or special warranties. Continue reading “Texas Assumption Transactions”

How to Buy a Foreclosure Home in Texas

Foreclosed homes can be purchased in a non-judicial foreclosure sale (typically held on the courthouse steps) or through judicial foreclosure (by a judge’s order)

For those unfamiliar with the process, there are numerous legal pitfalls in purchasing a home in foreclosure the unprepared purchaser can avoid through due diligence. Continue reading “How to Buy a Foreclosure Home in Texas”