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How to sell a house with a mortgage quickly and under the right conditions

This article is aimed at those who intend to sell, but are blocked by more or less another fifteen years of mortgage. The goal is to provide a series of instructions to move with maximum awareness, answering two fundamental questions

What happens to your mortgage when you sell your house?

If you still have a mortgage, how to sell quickly and without selling out?

What is certain is that selling is possible: despite the mortgage, you are the owner to all intents and purposes and therefore retain the right to sell to third parties .

How much do you still owe the bank?

First, it is advisable to untie the knot of the exact amount due to your credit institution .

Varied methods to sell the house

To find out, just send the relevant request directly to the lending bank.

Otherwise you can consult the loan amortization plan , i.e. the repayment procedure containing the subdivision of the installments (always made up of the principal and interest) and the time intervals with which the debt will be repaid. Based on these data, it will be sufficient to subtract the amount already paid without interest from the total loan received .

In fact, in the event of early repayment, the borrower is required to repay only the remaining capital, without the payment of penalties , since it is a mortgage loan for the purchase of a house. To proceed with the formalities, simply apply to the bank with at least twenty days’ notice .

Please note that the early repayment of the loan can take place following two paths .

The less frequented one: you pay the entire missing sum out of your own pocket. If your goal is to buy a new home, you will be able to proceed completely independently with the new search and also consider taking out an additional mortgage.

The alternative is the extinction at the notarial deed of sale of the borrowed property. The lending bank will receive the residual amount of the loan and will issue a receipt confirming the repayment, with consequent cancellation of the mortgage.