This is a sample Loan Assumption Addendum. This Addendum is attached to and made a part of the Offer to Purchase and Contract (“Contract”) between Seller and Buyer for the. Property. The form may be customized to suit your needs.
Not all mortgages are created equal! While some loans can be assumed, others have 'due-on-sale' clauses that could throw a wrench in things. It’s best to check before diving in!
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