Premier Sothebys Intl Realty
Kelly Lee McFrederick, Premier Sothebys Intl RealtyPhone: (727) 410-3605
Email: [email protected]

Selling Your Home On Mortgage

by Kelly Lee McFrederick 09/16/2019

A common problem among homeowners is the reality that life is unpredictable. There are so many things and so many issues that may come along the way. Owning a house can be both an asset and a liability if it does not get done right. 

Can I Sell My Property Even If It Is On Mortgage? 

Yes, you may sell your property even if it is on the mortgage. 

You may opt to sell it because you got your best luck and you are moving before the end of the original mortgage contract.

You may also decide to sell if you own a property, but you are going through some financial difficulty, you may either refinance your home and make use of the equity or sell your house and downgrade to a smaller one or lease an apartment. We have all been there, and the truth of the matter is that every person who has come face to face with financial difficulty should have a guide on how they can go about selling the property. 

How To Sell Your Property On Mortgage

The following are the steps to take:

1. Meet with a professional real estate listing agent. Tell them your situation and they will help you find out your current mortgage payoff. Once this information is available, you will figure out the following items:

- Your current borrowing situation;

- How much your asking price needs to be for you to be able to pay off the remaining loan balance; and...

- The probability of making some money out of the sale.

2. Once you have all the information, the real estate agent can go ahead and make a sale. Afterward, you get to discuss how you are going to get some value off the purchase.

What If The Property Value Is Less Than What I Owe? 

If you owe more than what you are going to make from the sale, you can talk to a bank to make a short sale. You can read more about that in this article.

Final Word

You can follow the above steps and sell your property even if it is on the mortgage. It will take maturity to handle a financial difficulty that forces your hand to sell your house, even if it is not yours yet. It also takes a lot of luck to be able to move to a more prominent place long before you paid off your last mortgage. What matters at this point is to contact a real estate agent and help you get through with the sale without any glitches.

About the Author
Author

Kelly Lee McFrederick

Kelly Lee McFrederick, a native of Clearwater Beach, Florida and graduate from the University of Florida, is well regarded and respected as a proven real estate associate for over 15 years, broker associate, real estate instructor and Certified International Property Specialist and now Instructor status. She thrives in the international marketplace and is a member of the Tampa Bay Chapter of the Asian Real Estate Association of America. Kelly Lee continues her passion in real estate with certifications in Resort and Second-Home Property Specialist and memberships in the International Consortium of Real Estate Associations. She travels to approximately four countries a year building relationships and sharing listings and information on Florida. In 2017, Kelly Lee traveled with the Asian Real Estate Association throughout Southeast Asia and spoke about Florida real estate in Singapore and in 2018 traveled with Pinellas International Council to Dominican Republic on another real estate trade mission.

Her most valuable attribute is her client commitment. She believes in representing every client with the utmost in professionalism and proficiency. Kelly Lee brings a wealth of experience and current knowledge to all her customers and is dedicated to helping them achieve their goals, being their strongest ally and proven negotiator. As an experienced luxury home, condominium and town home specialist, with proven experience in development, she is currently listing and marketing luxury town homes in 747North, a new downtown development in St. Petersburg. With continual sales in multi-family and commercial, Kelly is aggressive in marketing all properties. Utilizing professional 3D photography,staging, wordsmith copy-writing and all marketing tools through Premier Sotheby’s International Realty, she takes full advantage of her associations with the top brokerage and social media to promote and reach all buyers.

Kelly Lee has lived and enjoys vivaciously the Florida Gulf Coast lifestyle, from growing up on Clearwater Beach to residing in urban downtown St. Petersburg, she shares it all on her “You Tube” channel.  An avid tennis player, golfer and a lifetime spent boating up and down the Florida coast, she understands the Florida legacy. Kelly Lee is also a generous contributor and member of the St. Pete Chamber of Commerce, a dedicated alumna of the 2014 Leadership St. Pete class, social member of the Vinoy Renaissance Hotel, St. Petersburg Yacht Club, and membership chair of Infinity Charity donating time and money to those in need. She is involved with committees that encourage the growth of the community and is a notable board member of the Arts Alliance of St. Petersburg. Preparing to buy or sell your home or property, Kelly Lee McFrederick, as an Accredited Home Staging Professional Master, and past trainer for StagedHomes.com, is passionate and knowledgeable on the Gulf Coast of Florida and is the choice when looking for a real estate professional serving the Gulf Coast.