Selling a Home in Forney with a Mortgage: What You Need to Know
Selling a home in Forney, Texas, while still carrying a mortgage is a common scenario. Whether you're upgrading, downsizing, or relocating, understanding the financial and logistical aspects of selling with a mortgage is essential. The Crestedge Group, led by Jennifer Shannon Templeton, is here to guide you through the process and ensure your transaction is smooth and successful.
Can You Sell a House With a Mortgage?
Yes, absolutely. Most homes sold in Forney and across the country still have a mortgage. The key is knowing your mortgage payoff amount and working with a real estate expert who can help you manage the details.
Step 1: Know Your Payoff Amount
Contact your lender to request a payoff statement. This document outlines the exact amount needed to satisfy your mortgage, including any interest accrued up to the closing date.
Important: The mortgage balance on your monthly statement is not the same as your payoff amount.
Step 2: Estimate Your Net Proceeds
Your net proceeds are what you walk away with after the sale. To estimate:
Determine your home's likely selling price (we can help with a market analysis!)
Subtract the mortgage payoff amount
Subtract closing costs (typically 6-10% of the sale price)
This gives you a ballpark idea of what you'll net from the sale.
Step 3: List and Market Your Home
Once you're confident in your numbers, it’s time to list your property. The Crestedge Group provides strategic marketing tailored to Forney buyers, including:
Professional photography and virtual tours
Targeted digital advertising
MLS exposure and social media promotion
We make sure your home reaches the right audience to attract competitive offers.
What Happens to Your Mortgage at Closing?
At the closing table, the title company will use the buyer’s funds to pay off your remaining mortgage balance. Once that’s done, any leftover funds are disbursed to you as the seller.
What If Your Home’s Value Is Less Than Your Mortgage?
If your home is "underwater" (worth less than what you owe), there are still options:
Bring cash to closing: If the gap is small, you can pay the difference.
Short sale: In some cases, your lender may allow you to sell for less than what you owe.
Rent it out: If selling isn’t ideal right now, renting your home may be a temporary solution.
Every situation is unique. The Crestedge Group can help you evaluate your options.
Tips to Maximize Your Equity
Stage your home to attract higher offers
Make minor repairs and upgrades to boost appeal
Price competitively based on local market data
Time your sale to align with seasonal market trends in Forney
Work With a Trusted Forney Real Estate Team
Selling with a mortgage involves more paperwork, but it doesn’t have to be stressful. When you partner with The Crestedge Group, you get expert guidance, personalized service, and a deep understanding of Forney’s housing market.
Ready to sell your Forney home? Even with a mortgage, you can make a smart, successful move. Contact The Crestedge Group today to get started with a no-obligation consultation.
📞 Call: (214)803-4444
📧 Email: info@crestedgegroup.com
🌐 Visit: www.thecrestedgegroup.com