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Updated about 16 years ago on . Most recent reply

Alex Locklear's profile image
Alex Locklear's profile image
Alex Locklear
  • Investor
  • from Cary, NC
  • Member since Aug 13, 2008
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Alex Locklear's profile image
Alex Locklear's profile image
Alex Locklear
  • Investor
  • from Cary, NC
  • Member since Aug 13, 2008
Connect
Alex Locklear
  • Investor
  • Cary, NC
29
Votes |
218
Posts
General Real Estate Investing

Assumable Loan

Alex Locklear
  • Investor
  • Cary, NC
Posted

I have someone who is willing to let me assume their loan.

I currently have the place under option and want to find someone to take over the loan and assign my option for a fee.

What is the process of taking over an assumable loan? Do any lenders have to be contacted? Or can this be done without ever speaking to the sellers lender?

Thanks

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