Can You Sell a House Before Paying It Off? 

When it comes time to sell your home, you probably have a lot of questions. Wondering if it will sell fast, if a kitchen remodel is necessary before putting it on the market, and if your finances can handle a move are all natural questions and concerns to have. If you have an outstanding balance on your mortgage, you are probably asking yourself, “Can you sell a house before paying it off?” 

Yes, you certainly can sell a house before paying off your mortgage. If you’re wondering, “How do I sell my house fast in Pittsburgh?” or simply want to know the process of selling a house before paying it off, the team at Sell Pittsburgh Now has the answers below. 

The Mortgage Process

When you obtain your initial mortgage for your home, you start making payments on it right away and those payments are consistent throughout the duration of your loan. Since most mortgage terms are set up to last for 30 years, it is very common for individuals to sell their homes before paying off their mortgage balance. 

However, this balance doesn’t just go away. When you eventually sell your house, the lump sum you make in the sale goes towards your mortgage balance to pay it off in full. 

Selling a Home With a Mortgage

To start, you first need to figure out what your remaining loan balance is so you can set an appropriate list price. Doing so ensures that you make enough money on the sale to pay off that balance. You should also determine the right time to sell. 

Depending on your specific situation, selling quickly might be necessary. If not, you can take your time and perform a market analysis to ensure you sell your house wisely.  

Once you are ready to list your home for potential buyers, can you sell a house before paying it off? Yes! Just be sure to follow through with any final payments to your mortgage lending company. 

Working With a Real Estate Investor 

Hiring a real estate agent is the traditional way to sell a home, but it’s not the only way. Working with an investor like Sell Pittsburgh Now allows you to sell your home quickly at a competitive price. There is no need for repairs, showings, and unexpected fees like commission payments or closing costs. 

An investor simply evaluates your home, makes you a solid cash offer, and then buys your home as-is. How simple is that? Even better, once the transaction is complete and your mortgage balance is zero, you get to keep whatever is left over. It’s a win-win situation for everyone involved. 

So, can you sell a house before paying it off? With Sell Pittsburgh Now, you can! 

Want to avoid the real estate market? Just contact the team at Sell Pittsburgh Now to sell your home for a competitive price. Call us today at (412) 275-5238 and we can explain the process of selling your home when you can’t pay your mortgage.

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