How to sell an apartment with a loan? If we want to sell an apartment, but we have a mortgage for it, we are certainly considering whether such a solution will be feasible, and if so, what to do. Putting on real estate for sale we want to receive money for a given flat from a potential buyer, but how to do it if a given bank is entered in the real estate mortgage? If we buy an apartment for cash, we can do whatever we want with it at any time. However, when it comes to a flat under a mortgage, there are restrictions that must be taken into account. This does not mean, however, that we are not able to sell such a flat. We can, but the whole procedure is a bit different.

How? It should be realized that despite the bank being mortgage-backed, we are the owners of the apartment. The bank secures itself with an entry in the land and mortgage register, but the given property belongs to us, so we can do what we want with it, but the bank should be informed about this fact.

Step by step – we sell real estate with a mortgage

First, an advertisement for the sale should be published. We have to find a client who will be interested in our apartment. The key is to create the perfect advertisement – real estate sale , so as to attract a potential client. It is important to create a good text and add properly taken photos that will attract attention and make the client want to see the apartment. It is very important to inform the prospective buyer that our property has a loan. It is true that it does not matter much to him, but it is good for him to know what the legal status of the apartment is.

Once we have such a customer, the next important step is to visit the bank and inform them about our decision that we want to make. This should be done before the sale, not after the property is sold. The bank issues a certificate in which it informs us how much debt we have left. What is it needed for? Because the buyer who buys the flat must send the given amount to the seller of the flat to the bank account, and the surplus to the client’s account. It is not possible for the client buying the flat to send the whole to the seller, because then he will have problems if the latter does not return the amount to the bank. So, when it comes to real estate sales in the case of an apartment with a mortgage, the seller only receives what he has left of the rest of the money, which in a given amount must go to the bank for the mortgage.

Another very important issue is something like a promise, so it is the bank’s promise that when the money is on its account, it will delete it from the land and mortgage register. The promise itself is valid for a period of 30 days. It is also worth writing a preliminary contract at this time. It is then not necessary to visit a notary public. What should be included in such an agreement? Certainly, both parties to the contract, the price of the property and, of course, the date of its conclusion.

Advance or down payment also plays an important role. Thanks to such a preliminary contract, the buyer can apply for a mortgage, if of course there is such a need. In the final point, you should create an apartment sale agreement in the form of a notarial deed and go with him to a notary. And here another very important thing is that the buyer of the flat at the time of taking out the loan a copy of the notarial deed to the bank. For what purpose? In order for the bank to know that some funds for the loan must be sent to the bank’s account, and some to the person’s account. For example, if, for example, we sell an apartment for PLN 300,000, and we still have PLN 150,000 to pay off the mortgage loan, then the bank of the person buying the apartment, PLN 150,000 sends us the bank account in which we have the mortgage and PLN 150,000 to our account. When the transfers are sent and reach the bank, it is necessary to visit the bank to receive a certificate that the entire debt has been repaid and from that moment the apartment belongs to the buyer who has decided to buy our apartment.

As you can see, the sale of real estate is possible if you have a mortgage, but it requires a slightly more complicated procedure that must be followed so that the entire sale process is carried out in such a way that neither party has any problems. You cannot sell the property and take the entire amount of the sale for yourself, as doing so would be completely illegal. So it is first necessary to pay off the debt and only then receive the appropriate amount, i.e. the rest that is left to us. Knowing the step-by-step steps in the case of wanting to sell real estate with a mortgage, the whole thing is not as difficult as it might seem. Step by step, and we are certainly able to get what we care about.