Legal Question in Real Estate Law in Texas

I have a contract pending on the sale of my home in Texas with a cash offer. When I noticed another person's name on a draft of the HUD statement, I asked my realtor to investigate. It turns out the "original" buyer wasn't sure whether he'd have the funds available on our closing date so asked a co-worker to apply for a loan to purchase the home. The "original" buyer would then pay the mortgage for the "new" buyer. The buyer's real estate agent and the title company are both aware of this change. I suspect this is not legal but I'm not certain.

Can you advise whether this is, in fact, legal? I've spoken to the "original" buyer and told him that the contract is with him and only him and that I will not consider the contract as transferable to the "new" buyer.

Thank you in advance.


Asked on 2/13/12, 7:21 pm

1 Answer from Attorneys
Mark Dunn Mark D. Dunn

From your point of view, you get the money, you sign a deed, and you walk away, fully paid. Why are you worrying about who makes the payments to the financier?

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Answered on 2/18/12, 7:40 am


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