Can You Sell Your Home Before Paying off Your Mortgage?

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Can You Sell Your Home Before Paying off Your Mortgage

How to sell your home? Mortgage loans can take several years and should be spread over the long term. Before the mortgage loan repayments run out of debt, consumers may fall into economic trouble and want to sell their purchased homes. So, is it possible to sell the house purchased with the mortgage before the loan debt ended?

Procedures in Turkey Real Estate can sometimes be confusing. You can work with an expert team to master every detail and have a smooth sales process.

What happens if no one wants to buy a house?

It is possible to sell the house you got before your mortgage loan debt you bought from banks ended. Of course, with some conditions… First of all, if you sell your house, your bank will give you a consumer loan. This consumer loan is calculated over the remaining debt since the date you sold the house. The meaning of this application is as follows: You become responsible for paying with this application from the taxes you were exempted from when you first got a mortgage loan with this loan that your bank has made available to you. So you will have a taxed debt.

Can I buy a house without a mortgage?

It is necessary to consider buyers who do not want to buy a mortgaged house – There is another point that consumers who intend to sell their purchased house before their credit debt ends with all these official conditions. In housing sales, buyers do not lean towards buying mortgaged houses. There is a solution to this situation as follows. The seller agrees with the buyer who wants to buy the house and pays off the loan debt with the money he/she receives from the sale of the house, and there is no problem for either party. Of course, in this case, a 2 percent early loan fee must be paid to the bank.

It is also possible to transfer the mortgage loan

Are you ready to sell your home? – Another alternative is that if the buyer also wants to use a home loan, the buyer goes to the bank and makes a loan transfer transaction, which can be considered a kind of mortgage transfer transaction. This type of transaction is one of the opportunities banks offer to consumers.

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