Hi Sherri! Seems there is confusion and misunderstanding for some reason, but on any real estate transaction with liens (Mortgages, taxes, etc), all of those must be paid and the remaining funds (if any) would go to you as the seller. If you want to discuss this by phone, please send me a direct message through this site and we can talk this over. Thank you and good luck!
Yes it can if the buyer will pay the difference. Once the bank note is paid off you get to keep whatever is left over.
Yes, when you sell your house, you must pay off all the existing liens on the property and any excess equity would go to you. I am only licensed in CT. Michael A. Kirkutis, CT DOB NMLS #111599, MAK Mortgage Company, Inc., CT DOB NMLS #103552. MORTGAGE BROKER ONLY, NOT A MORTGAGE LENDER OR MORTGAGE CORRESPONDENT LENDER. www.cthomemortgageloan.com.
The existing loan gets paid off, you get to keep whatever is left over.
If you are selling for more than appraised value and the buyer is getting a mortgage, they would have to pay the amount over appraised value to you out of their pocket. Yes, that difference would be yours.
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