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What if I owe money after selling my house?

I've owned my house for 4 years, but want to move. I've paid on my mortgage, but what if I don't get enough money from the sale of the house to pay the mortgage, my realtor and the closing costs. I want to buy another place with the money from the sale of this house.

Asked by Kamari | Granville, NY| 03-17-2023| 1,016 views|Selling|Updated 3 years ago
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Answers (2)

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Amanda CourtneyExpert453 Answers
Amanda Courtney

REP Realty Group · Fort Myers, FL

(13 reviews)
If the sale doesn’t cover loans/fees, you’ll need to bring funds to closing or negotiate options (like lender approval/short sale)
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01-23-2026 (3 months ago)··
Chris YochumPro123 Answers
Chris Yochum

Dickson Realty · Reno, NV

(24 reviews)
If you owe money after the sell you should have money left to buy another house. If you owe money at closing then you will need to write a check to actually close. If you owe and need to sell, then you will want to discuss with your agent and likely proceed with a short sale. A short sale can allow you often to be forgiven on or effect your taxes appropriately.
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03-25-2023 (3 years ago)··
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