I come from a state where attorneys are involved in most real estate transactions - I know that in many states attorneys are not used. I think that is just crazy. For what is typically the biggest purchase of a person's life, they won't spend a nominal fee charged by a real estate attorney.
So, for me, I would recommend that you consult an attorney to review the contract and the terms of the loan that you are being asked to assume.
If this answer was helpful, please mark it as helpful or as a best answer. This answer is for general education purposes only. It neither creates an attorney-client relationship nor provides legal guidance or advice. The answer is based on the limited information provided and the answer might be different had additional information been provided. You should consult an attorney.
You would be ill advised to assume a mortgage loan without representation by an attorney that practices in this area of law. It may seem simple and straightforward, but there are many potential land-mines to avoid. For example, there could be problems with the title to the property or the loan might not be assumable, etc. Get a real estate lawyer that handles real estate closings. Calling a title and escrow company in your area is a good place to start. Best of luck.
LEGAL DISCLAIMER-An attorney can only give you competent legal advice if he or she knows all the facts and is licensed to practice law in the state specific to your question. The comments above are not intended to be legal advice but general comments based on the limited information provided in the question. I am only licensed to practice in the State of Tennessee.