Legal Question in Real Estate Law in Pennsylvania

No what you're doing is acquiring property by in part assuming the loan that currently exists. What they lender wants is a deed on file at the Record of Deeds that says you on the property, So you're going to have to have a deed written where the current owner grants you ownership. Beyond that you'll have to pay a transfer tax of about 2% of the purchase price. Does the lender want title insurance. Does the seller have good title?

If you're are trying to do this with out a lawyer that's false economy.

{John}