Home Selling in Bronx>Question Details

Samsam, Home Seller in Bronx, NY

Is there any disadvantage selling home early before fully paying debt?

Asked by Samsam, Bronx, NY Mon Apr 8, 2013

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Most people sell a home to move to a larger home or another area of the town, state or country for a multitude of different reasons, and often also to buy a different type of home.... when you put your home on the market you need to sit down with an experienced local Realtor to figure out the current value of
your home, what exactly it could sell for, what your closing costs and commissions would be, and other costs to close on the home sale, at the closing table you will have to pay off the remaining loan amount on your home, pay all your closing costs and any taxes you may owe, and the remainder then would be your net to seller....

So you need to make sure with your Realtor that with the app. sale price, and deducting from that all the costs you will have that there is money left over, and you do not have to bring money to the closing table.

So first discuss your home's market value and do discuss honestly with your Realtor the truly possible
net to seller.....
Sincerely yours,
Edith YourRealtor4Life & Chicago and Northern Illinois Expert

Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
And always with a SMILE 
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
North Shore, and many of the W and SW suburbs, and with her trusted Partner Agents all of
the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
@Properties ---- EdithSellsHomes@gmail.com
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HAVE THE MOST WONDERFUL DAY :)
0 votes Thank Flag Link Mon Apr 8, 2013
good day, please call me @ 646-851-6799 to discuss, thank you
0 votes Thank Flag Link Tue Apr 9, 2013
Samsam,

If you have a pre-pay penalty on your loan, that would be a disadvantage. If there is one, most loans are a 1-3 year pre-penalty. Please contact your lender and ask the question.

Paying off a loan looks good on your credit...no worries.
0 votes Thank Flag Link Mon Apr 8, 2013
There is one real advantage with selling your home prior to paying it all off. That is, you gain more. Because of the life of the loan you will be paying a hefty price in interest. Please feel free to give me a call and I can give you a proper and accurate price range for selling your home.
I can be reached via email or phone. bruce.mcintyre@pantigagroup.com or 646-588-1720.
0 votes Thank Flag Link Mon Apr 8, 2013
Generally many people sell before the mortgage is fully paid...
0 votes Thank Flag Link Mon Apr 8, 2013
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