“The Cash Offer Company”
Yes, you can absolutely sell a house in Richmond VA with an active mortgage. In fact, the majority of homeowners who sell still owe something on their home loan. The key is understanding how much you owe, how much your house is worth, and what your net proceeds will be after the sale.
If you’re looking to sell fast or avoid default, we’ll explain exactly how to do it with or without equity.
How It Works: Selling With a Mortgage
When you sell your home with a mortgage, your lender will be paid directly from the sale proceeds. The title company handling closing will request a mortgage payoff statement, deduct the loan balance from the sales price, and distribute the rest to you.
What you’ll walk away with depends on:
- Your remaining mortgage balance
- Your home’s current market value
- Closing costs and agent commissions
- Whether you’re behind on payments
If you owe more than the house is worth, you may be in a pre-foreclosure or short sale scenario.
What If You’re Behind on Payments?
Falling behind on mortgage payments is stressful, especially if you’re getting notices of default or letters from the bank. Richmond homeowners in this situation often have 3 main options:
- Catch up the loan (if you have the cash)
- Apply for loan modification or FHA assistance
- Sell before the home enters foreclosure
Selling quickly can help avoid credit damage and eliminate further interest or penalties. If you’re already in pre-foreclosure, a fast cash sale may be your best bet.
Selling With Little or No Equity
If your mortgage is high and your home value is low (common with older or damaged homes in Richmond), you may have little or no equity. In this case, options include:
- Negotiating a short sale with your lender
- Bringing cash to the closing table (not ideal)
- Selling to a cash buyer who can move fast
We help Richmond sellers avoid foreclosure by providing quick offers and flexible solutions, even when equity is tight.
Can You Sell to a Cash Buyer With a Mortgage?
Yes. We buy houses with mortgages all the time.
Here’s how it works with The Cash Offer Company:
- We request your payoff amount from your lender
- You accept our offer
- We close in as little as 7 days
- Your mortgage is paid off in full at closing
- You get any remaining cash (if there’s equity)
No agents. No repairs. No commissions.
Serving Richmond and Surrounding Areas
We help homeowners in neighborhoods like:
And we buy houses in cities like:
Contact The Cash Offer Company Today
If you’re trying to sell a Richmond house with an active mortgage, we’re here to help. We’ll make it easy and stress-free no matter your situation.
📞 Call (804) 215-4004
📧 Email info@thecashoffercompany.com
Or visit our Richmond homepage to learn more.
Disclaimer: This article is for informational purposes only and does not constitute legal, financial, or tax advice. Please consult a licensed professional before making real estate decisions.