Is 'loan transfer' a thing?

[Ali Hashemi]

I just found myself in an interesting situation.

I made an offer on a portfolio of 4 Duplexes. I offered $190,000 and after a series of correspondences with the realtor, was told the seller owes about $205,000 and for that reason wouldn't accept anything else.

Is it possible to request his lender to transfer the loan to me? Thus circumventing any need for a down payment on my part? If I could assume the sellers loan as a means of "purchasing the properties" and save myself the 20% down payment my lender requires, the higher valuation would be worth it to me.

Curious your opinions and experiences....can I assume the sellers loan as a means of purchase?

Thanks,

ALI