What is non-qualifying wraparound seller financing (Wally Wrap™)?

Wally Wraps™ are proven, non-qualifying seller financing transactions which have been utilized for more than 100 years as effective sales tools in commercial, raw land and residential real estate transactions. Under Wally Wraps™ an existing seller’s loan(s) (Prior Note(s)) are not assumed by the buyer, but a seller financed loan is stacked on the Prior Note(s). The Seller remains fully obligated for payments under the Prior Note(s) and no relationship is established between they buyer and seller lenders. The Buyer’s obligations are limited only to the terms of the Wrap note, which is payable to the Seller.

What is the Wally Wrap™ System?

Designed almost 20 years ago by one of Texas’ best known residential real estate closing attorneys. The Wally Wrap™ System incorporates extensive real estate & legal experience, proven & specialized documentation, and closing expertise, which is unique in the real estate industry. Our Pre-Closing Conference (PCC) system is arranged once a contract has been executed. This meeting allows for all parties to meet with the attorney and discuss all aspects of the Wally Wrap™. If at the end of the meeting they are not satisfied, then the contract is voided and no costs have been incurred. However, if they have been satisfied then the closing can take place within 8-10 days.

Is transfer of ownership in violation of the “due on sale clause” in a residential mortgage illegal?


Violation of a public law is illegal, i.e. traffic tickets, punishable by fines, etc. Violation of a “due on sale clause” is not illegal. A real estate mortgage is a lender contract under civil law. Texas civil law provides non-judicial foreclosure as the primary lender remedy for breach of a mortgage contract, in the form of payment default.

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