Are there any added benefits to paying off a mortgage before selling the property?

CASH IS KING!!! If you plan on selling it in the future, then no.. I'm not aware of any benefit to you at all, except you won't have to write a check every month... keep you money in the bank.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Not unless you wanted to buy something else. I would speak to your accountant to see if there are any benefits to paying it off before selling it, I don't believe so, but you should always ask a pro!

Hello Strelawney-A potential benefit you could see could be: if you are selling and purchasing another property, the property you are selling would not be considered into your ratios (other than the taxes, and insurance) making your buying power higher. I am near the Mayfair Mall area if you would like any further information.Davidwww.mortgagebydavid.com

This may be a conversation for your CPA. However, I would just say that you are likely writing off the interest portion on Schedule E of your tax returns. If you pay the mortgage off, you will not receive that tax benefit.

Another thought to consider: I was always told (by a dear friend in the title industry) to keep a mortgage on a property...even just a small one. Why? Because 1st lien position is protected and therefore title to the property is not in jeopardy should someone sue you.

There really is no benefit to pay off early, as long as you are selling within the year of the payoff.

It depends on what your future goals are. With out that info, no one can give you a good answer.

Everyone's situation is different and it what it depends on it your tax situationa and what your end out plans are.

An investor might make a "low-ball" offer, just over your mortgage amount, if the loan is still in place.

Just to reiterate.. You asked if there is a benefit to pay off a rental property that you plan on selling in the near future.. And after reading other responses, I'm convinced that hardly anyone read your entire question.. Let me say one more time.. CASH IS KING!!! every RE investor out there , as well as Financial Planners, will all tell you the same exact thing.. Keep as much of your cash in the bank, and borrow as much as possible.. if you were at retirement age, or had unlimited funds, then it could be worth the peace of mind others here referred to.. However, that's not your scenario.. You asking about paying off an investment property you plan on selling soon.. Keep the Cash In The Bank!!!I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com