HomeAdviceSellingWhat if I owe money after selling my house?
Go Back

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| 1,005 views|Selling|Updated 3 years ago

Answers (2)

Sort by:
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)
View Profile
01-23-2026 (2 months ago)··
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.
View Profile
03-25-2023 (3 years ago)··
Find Agent CTA

Are you ready to find a top agent near you?

Browse profiles of the highest ranked agents in your area and find one that meets your specific needs.

Related Questions

We did a pocket listing and immediately got an offer. Should we accept it?

Asked by Tony | New Buffalo, MI | 20 views | Selling | 03-30-2026 | Updated 1 day ago

Buy and sell in different states

Asked by Karen Palmer | 20748 | 9 views | Selling | 03-30-2026 | Updated 1 day ago

What do I need to know about selling an inherited house?

Asked by Angela | Fort Myers, FL | 11 views | Selling | 03-30-2026 | Updated 1 day ago

Are professional photos and videos really necessary to sell a home?

Asked by Jon M | Prescott, AZ | 51 views | Selling | 03-28-2026 | Updated 3 days ago

Is it better to list with a discount brokerage to save on commission?

Asked by Julie Perez | Burbank, CA | 37 views | Selling | 03-28-2026 | Updated 3 days ago