Can You Sell an Apartment with a Mortgage?

Many people wonder if you can sell an apartment with a mortgage, especially when personal or family circumstances change and they need a new home or a different space. The answer is yes, it is entirely possible, although it involves following a specific process and considering various expenses and procedures. At Espígul, we know that this situation can generate doubts and concerns, so we offer you all the necessary support to do it quickly and safely.

How to Sell an Apartment with a Mortgage?

The process of how to sell an apartment with a mortgage is similar to that of selling a property without encumbrances, but includes additional steps to cancel the current mortgage. This implies:

1. Check the outstanding debt: Request a pending balance certificate from your bank to know exactly how much is left to pay off the mortgage.
2. Negotiate with the buyer: If the buyer is interested in subrogating the mortgage, it is an option to explore, as it can simplify the process for both parties.
3. Formalize the cancellation: In most cases, the amount obtained from the sale is used to pay off the debt with the bank.

At Espígul, we accompany you throughout the entire process, ensuring that each step is clear and transparent. You will find the necessary help to manage each procedure and resolve doubts about the options for selling an apartment with a mortgage.

Expenses of Selling an Apartment with a Mortgage

When we talk about the expenses of selling an apartment with a mortgage, it is important to consider them to correctly plan the transaction. Among the main expenses, the following stand out:

• Registry cancellation of the mortgage: This procedure involves officially settling the mortgage in the Land Registry. Costs usually include fees and, in some cases, notarial fees.
• Bank commissions: Some entities may apply commissions for early amortization, which are usually stipulated in the mortgage contract.
• Taxes and expenses associated with the sale: You should also take into account taxes such as municipal capital gains and other expenses such as real estate advice.

Our Espígul team can help you accurately calculate all these expenses, avoiding unexpected surprises and ensuring that the sale is a success.

Steps to Sell an Apartment with a Mortgage

The steps to sell an apartment with a mortgage do not have to be complicated if you have the right support:

1. Initial evaluation: We carry out a detailed valuation of your property to establish a competitive price that allows you to cover the mortgage debt and obtain benefits.
2. Management of procedures: We coordinate with the bank for the cancellation of the mortgage and prepare all the necessary documentation.
3. Property promotion: We publish your apartment on our platforms, highlighting it to capture the interest of potential buyers.
4. Negotiation and closing: We negotiate with buyers and formalize the sale with all the guarantees.

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