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  • Writer's pictureRenz Javing

Selling your house to a cash buyer while keeping your mortgage

Are you considering selling your house to a cash buyer but are unsure about how to handle your mortgage? It's a common concern, but there are a few steps you can take to ensure the process goes smoothly.


First, it's important to understand that when you sell your house to a cash buyer, you are responsible for paying off your mortgage before the sale is complete. This means that you will need to have the funds available to pay off the remaining balance on your mortgage. If you don't have the cash on hand to pay off the mortgage, you may need to explore other options, such as obtaining a loan or using the proceeds from the sale to pay off the mortgage.


Here are the steps you can take to sell your house while keeping your mortgage:

  1. Determine how much you owe on your mortgage: This will give you an idea of how much money you need to pay off the mortgage before the sale is complete.

  2. Explore your options for paying off the mortgage: If you don't have the cash on hand to pay off the mortgage, you may need to consider options such as obtaining a loan or using the proceeds from the sale to pay off the mortgage.

  3. Consider leasing the house back from the cash buyer: If you want to continue living in the house after the sale, you may be able to lease it back from the cash buyer. This can give you the opportunity to pay off the mortgage over time while still living in the house.

  4. Use the proceeds from the sale to pay off the mortgage and any other debts: If you prefer to sell the house and move on, you can use the proceeds from the sale to pay off the mortgage and any other outstanding debts. This can help to free up cash flow and reduce your overall financial burden.

  5. Communicate with your mortgage lender: It's important to keep your mortgage lender informed about the sale and follow any specific requirements or procedures they may have.

  6. Finalize the sale: Once you have paid off the mortgage and any other debts, you can proceed with the sale of the house to the cash buyer.

Remember, selling your house to a cash buyer while keeping your mortgage can be a bit complicated, so it's important to carefully consider your options and communicate with your mortgage lender throughout the process.

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