There are a few issues here:
(1) No lender will provide a loan to a buyer if there are any outstanding liens on the property of any kind.
(2) If the buyer is getting a loan, the answer is automatically no UNLESS there is a provision in the existing loan for it to be assumed. This is very rare, however - in most cases, existing loans are not assumable.
(3) If the buyer is paying cash, the current lender will not release the deed of trust until it is fully satisfied.
Bottom line, the existing note needs to be paid off to transfer title.