If you sell your house for more than you owe on the loan you will more than likely make a profit and walk away with a decent percentage. There have been cases where the property owner sells the house for more than what is owed. But the seller doesn’t see a dime from it or even owes money when closing. The company Local Records Office created a list to see if you’re going to make or lose money when selling your house.
Where Do You Get Hit the Hardest When You Close Deal?
Let’s get this out of the way; you will get hit hard when you close the deal, that’s just how it goes. Traditionally there will be a middleman that will take the buyer’s money, usually a title company, attorney, or an escrow company, depending on where the property is located. This money will be used to pay off the seller’s mortgage.
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