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 Selling property with LOAN yet to settle?, IS it possible??

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TSGibsonBFG
post Dec 13 2009, 07:11 PM, updated 17y ago

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guys, wondering is it possible to sell off house with outstanding loan amount yet to settle, infact just done refinancing, is it that we'll hav to clear off the debt before can let go???

i know that hire purchase, car loan is if u want to let go, u hav to bare ALL THE COST u lost. blush.gif

any sifu here mind to share experience?? cheers...
scorgio
post Dec 13 2009, 07:25 PM

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it's possible. the buyer's money would go towards redeeming the title.

that's of cos, if the selling price is higher than the loan amount still due.

but if just done refinancing, there's a fine from the bank.
TSGibsonBFG
post Dec 13 2009, 08:10 PM

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QUOTE(scorgio @ Dec 13 2009, 07:25 PM)
it's possible. the buyer's money would go towards redeeming the title.

that's of cos, if the selling price is higher than the loan amount still due.

but if just done refinancing, there's a fine from the bank.
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thx bro for the clarification, actually stil in planning stages.. cheers..

 

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