Do you still have a mortgage? Learn how the payoff process works when selling your house for cash.
The Closing Process
When we buy your house, the sale proceeds pay off your debt automatically. Here is the flow:
1. The title company requests a 'Payoff Statement' from your lender.
2. At closing, the money from our purchase goes *directly* to your lender to pay the balance in full.
3. Any remaining money goes directly to you via check or wire transfer.
What If I Am 'Underwater'?
If you owe more than the house is worth, a standard cash sale might require you to pay the difference. However, we can help you explore a Short Sale, where we negotiate with the bank to accept less than the full mortgage amount.
Why a Cash Buyer Helps
Lenders love cash transactions because there's no risk of financing falling through. This makes the payoff process smoother and reduces the chance of delays.
Short Sale Expertise
If you're underwater, our experienced negotiators can often persuade your bank to accept less than what's owed, saving you from foreclosure and the damage it brings to your credit.