Can You Sell A House With A Mortgage Still Owing?

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Mortgage loans have enabled many to have their own houses. However, paying them off is a hassle. This is especially true if you have to move, but the burden of that loan looms on you. However, you can sell a house with a mortgage still owing.

In this article, we’ll take you through the nuances of mortgages and house sales so that nothing deters you from leaving that old house and starting a new life.

Selling a House With a Mortgage

The sales process involved proceeds in the typical manner. In this case, your goal is to sell a house at a higher price than your leftover mortgage limit.  

As you get the payment for selling your house, you’ll have to pay the remainder of your mortgage balance first. Then, you’ll move on to pay the remaining closing costs associated with a home sale. This includes a realtor’s commission and taxes. The money left over is yours to take.

Many times, if you’re unable to sell your house at a cost that’s letting you cover your mortgage, you’ll have to cover the balance using other funds. In the case of such sales – referred to as short sales – you will not have the final say over which offer to accept. Instead, you’ll need approval from your lender. This can be time-consuming unless you have sufficient external funds to make up for the difference in the loan amount. If you’ve been building up equity and paying portions of the loan on time, you may be able to persuade the lender to accept a loss. 

How Home Cash Buyers Can Help With Mortgages

In a typical selling process, you have to renovate your house, pay for all repairs and pay the commission fees to realtors. This will be burdensome if you have a mortgage to take care of: it can land you in more debt, especially if you arrange for another loan to pay off the mortgage in case of a short sale. Dealing with cash-buying companies is a much better way in this regard, especially if you want to sell the house fast.

Companies like Ohio Cash Buyers let you sell your home no matter the state it’s in. Since you do not have to pay commission or repairs, you can save up and focus on paying that loan off. We won’t claim it’s the only solution – you may renovate the place and wait until you get a high enough offer. However, getting a cash deal is fast and leaves you with more flexible options and timelines.


Not having paid the remainder of your mortgage loan should not be a factor stopping you from shifting to another place. To make sure that you do not end up in a short sale, renovate the area and wait for the best seasons to sell a house: spring and summer. However, if you want to get done with everything without investing more money into that property, working with a good cash home buying company is among your best options. Give them a call and see what they offer you.

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