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Dock David Treece 2 months, 4 weeks ago.
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Hello Shannon,
Whether you can sell your property and pay off the financing provided by your aunt and uncle would be based on the terms of your mortgage and note. However, in most cases, the situation you’ve described would be perfectly fine. You should be able to sell the property, so long as the balance of your note ($44,000) is paid off at closing – that would be required in order for your aunt and uncle to release their mortgage so you can transfer clean title.
For more information on owner financing and how it works, be sure to check out our Ultimate Guide to Seller Financing.
Best of luck,
Dock
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