Shelly Eshelman Realty
Shelly Eshelman, Shelly Eshelman RealtyPhone: (888) 805-8462
Email: [email protected]

Can I Sell My Property Even If It Is On Mortgage?

by Shelly Eshelman 08/04/2019

A common problem among homeowners is the reality that life is unpredictable. There are so many things and so many issues that may come along the way. Owning a house can be both an asset and a liability if it does not get done right. 

Can I Sell My Property Even If It Is On Mortgage? 

Yes, you may sell your property even if it is on the mortgage. 

You may opt to sell it because you got your best luck and you are moving before the end of the original mortgage contract.

You may also decide to sell if you own a property, but you are going through some financial difficulty, you may either refinance your home and make use of the equity or sell your house and downgrade to a smaller one or lease an apartment. We have all been there, and the truth of the matter is that every person who has come face to face with financial difficulty should have a guide on how they can go about selling the property. 

How To Sell Your Property On Mortgage

The following are the steps to take:

1. Meet with a professional real estate listing agent. Tell them your situation and they will help you find out your current mortgage payoff. Once this information is available, you will figure out the following items:

- Your current borrowing situation;

- How much your asking price needs to be for you to be able to pay off the remaining loan balance; and...

- The probability of making some money out of the sale.

2. Once you have all the information, the real estate agent can go ahead and make a sale. Afterward, you get to discuss how you are going to get some value off the purchase.

What If The Property Value Is Less Than What I Owe? 

If you owe more than what you are going to make from the sale, you can talk to a bank to make a short sale. You can read more about that in this article.

Final Word

You can follow the above steps and sell your property even if it is on the mortgage. It will take maturity to handle a financial difficulty that forces your hand to sell your house, even if it is not yours yet. It also takes a lot of luck to be able to move to a more prominent place long before you paid off your last mortgage. What matters at this point is to contact a real estate agent and help you get through with the sale without any glitches.

About the Author
Author

Shelly Eshelman

My sole purpose is not just to have clients. My life’s purpose and mission is to create more Homes for Special Needs Adults, the disabled and senior citizens.

Having many years in Real Estate as well as lending experience allows me to understand all the aspects of the transaction, to share my knowledge with you. 

I am third generation Real Estate Broker Entrepreneur and helped my grandmother drop flyers door to door as a little girl for her business. She taught me so much, which molded me to become the realtor and person I am today.

Scope of work:

Buyer’s looking to buy and seller’s looking to sell. 

All areas of Southern California. My areas of focus: 

Luxury Home Sales

Residential Homes Sales.

Turn Around Sales 

Mission to be Sold Fast homes. 

I work with all different types of situations. Divorce, Probate, trusts,

REO’s, fix and Flips and more.

Need someone to manage the properties/homes? I offer 

Property Management Services for both residential and commercial.

Additional services and Business areas:

Rental properties and Residential Property Management Services to help renters find homes to move into and landlords to find great tenants. 

Concierge Service For tenants "Free of Charge for tenants"

●Commercial Sales and Property Management

●Consulting, selling, startups for:

●Adults with Mental Disabilities (ARF’s)

● Residential Care Facilities (RCFE’s)

● Skilled Nursing Homes (SNIF’s)

●Urgent Care setups/Exiting,

●Radiography-MRI & CT

Education/Certifications:

● MBA in Business and en-thesis in Project Management, ● BA in Business

● AA in Real Estate

● Certification in Real Estate ● DSP I & DSP II ● CPI Training ● Admin Cert’s for RCFE & ARF

Published Author of the following books: 

1. 27 Mistakes First-Time Home Buyers Make And How To Avoid Them

2. How To Sell Your Homes For More Money

3. How To Sell Homes Fast For Top Dollar