Home Selling in La Vernia>Question Details

Emily, Home Owner in La Vernia, TX

selling 4/2 in La Vernia and am looking for someone to assume our mortgage (take over our payments). Do I need to get a realtor for this ?

Asked by Emily, La Vernia, TX Fri Jul 13, 2012

House is in good condition,double wide, fha approved foundation, fenced in back yard, large covered back porch and 20x30 shop.

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if this is the case I would be very interested! call or email me. 210-438-2813. Victoria_sanchez_123@yahoo.com
0 votes Thank Flag Link Mon Feb 18, 2013
Would you be interested in renting, if so I would be interested. Shoot me an email and I will send you my contact information. brandon.johnson62@gmail.com
0 votes Thank Flag Link Wed Oct 17, 2012
A realtor won't necessarily do you any good unless you are able to add the commissions into the deal and still locate a willing buyer.

While your deed of trust will contain a "due on sale" or "transfer of beneficial interest" clause in it, my guess is you wouldn't be able to pay the lender to call the loan due as long as the note is paid on time. No lender is willing to take a performing mortgage and make it a liability on their books simply to prove a point.

While there are many ways to structure such a transfer, you will want to consult an attorney who can draft the necessary documents for you and give you guidance on how to properly protect your interests...both areas an agent can't help you with.
0 votes Thank Flag Link Fri Jul 13, 2012
Is your loan assumable? You need to check that factor as if it is not, if you let someone else "assume" your payments there could be an acceleration clause in your mortgage. That can mean the full amount becomes immediately due and payable. Either check with an attorney or your mortgage company.
Then you have a choice to do a FSBO (for sale by owner) and do all the legal paperwork yourself or use a Realtor who is trained to handle the paperwork and all the details to sell the home such as inspections, negiotating repairs, etc.
0 votes Thank Flag Link Fri Jul 13, 2012
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