Can You Sell A House With A Mortgage?

Can You Sell A House with a Mortgage on It

Hey Berks County, April here with Berks County House Buyers. I’ve been buying houses for cash in Berks County for over 12 years now. A lot of times people will call us and ask if they can sell a house cash in Berks County that has a mortgage on it. A lot of times people get a mortgage on their house in Berks County because they’re not just plunking down cash and buying the property cash. When we buy houses cash, we don’t get a mortgage because it takes us too long to buy the house cash in Berks County if we’re working with a mortgage company. So we buy the house cash so that we can purchase the home quickly in Berks County so that you can sell in one to two weeks, or you can take as much time as you need, we’re flexible, but we like to be able to purchase homes quickly if need be. We meet a lot sellers that need to sell their home fast for cash in Berks County.

Sellers will often ask us if they can sell their home to us cash because they have a mortgage in place on the property. A mortgage shows up as what we call a lien, which means it’s a debt that’s owed and it’s tied to the property. So you can’t sell the property without paying off the mortgage. However, this doesn’t mean that you have to come out of pocket and pay off the mortgage prior to selling the property for cash. When we buy houses cash in Berks County, we use a title company, just like a real estate agent would use. We go to that title company and they do a title search and they see what mortgages are listed as owed that are tied to the property.

The title company in Berks County will then ask you to do what’s called a payoff authorization form. This is a form that you fill out for the title company with your mortgage account information. They submit it to your mortgage company and your mortgage company sends the title company in Berks County what’s called a payoff. This payoff shows exactly what the title company needs to pay the mortgage company so that you can sell the house. When we buy properties cash in Berks County, we run everything through a title company.

When you get to settlement, we will have an agreement about what we’re going to pay for the property cash. The title company will take whatever’s owed on the mortgage out of what we’re paying you cash to pay off the mortgage company, and then you will get whatever is left over in the form of a check. This check comes directly from the title company and is a certified check. So it’s not like I’m personally writing you a check, or anyone is personally writing you a check, it’s coming right from the title company in the form of a certified check. When they pay off your mortgage, you will then get what’s left over between what we offered you and what was owed on the balance of the home in Berks County.

Sometimes home owners owe more on their mortgage than what the house is worth, or they owe more on their mortgage than what a cash house buyer in Berks County is going to be able to give them for the house. In this case, we will likely recommend that you try listing the house on the market with a real estate agent, which we can connect you with one, even if the house is in need of some work, you may have to list it on the market as is to pay off the mortgage balance.

In some cases, there’s so much owed, and the house has either deteriorated or not gone up in value, that more is owed on the mortgage than what you’re able to get for the house if you sell it. This is what we call a short sale situation. This means that the house in Berks County needs to be sold for less than what is owed on the mortgage. In the case of a short sale, you want to have a short sale professional or negotiator involved. We can certainly connect you with one if you’re looking to sell your house in Berks County.

Even if we aren’t the answer to sell your house cash in Berks County, we like to be a resource for all your other needs. You can call us for a free, no obligation consultation, and if a cash offer isn’t right for you, we’re happy to connect you with our trusted associates like realtors, clean out crew, short sale servicing companies, that can help you with your house in Berks County. You don’t need to live with the stress of that mortgage on your house in Berks County any longer. You can reach us at 610-816-6205, or via our website, BerksDirectCashBuyers.com, to see if a cash offer on your house in Berks County is a good fit for you.

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