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Selling a House You Still Owe Money On Most people sell a house they still owe money on, and most have only a rough idea of the mechanics. The mortgage does not transfer and it does not simply vanish. It gets paid off out of the proceeds at closing, and the order in which that happens explains several things that otherwise look strange. At closing the title company requests a payoff statement from your lender. That figure is not your remaining principal. It is principal

Managing a Texas Property Sale From Another State Inheriting Texas property while living somewhere else combines two problems that are manageable separately and awkward together: establishing your authority to sell, and doing everything at a distance. Authority comes first. A title company will want proof that ownership passed properly. If there is a will going through probate, the executor generally has authority once the will is admitted and letters testamentary i

Selling an Inherited Texas House From Out of State Inheriting Texas property while living somewhere else combines two problems that are manageable separately and awkward together: establishing your authority to sell, and doing everything at a distance. Authority comes first. A title company will want proof that ownership passed properly. If there is a will going through probate, the executor generally has authority once the will is admitted and letters testamentary issue

What Foundation Damage Does to a Texas Home Sale Foundation movement is close to a statewide condition in Texas. Much of the state sits on expansive clay that swells when it rains and shrinks in drought, and slab foundations move with it. Doors that stick in August and close fine in March are telling you about soil moisture, not carpentry. That ubiquity cuts both ways when you sell. Buyers here are less shocked by foundation work than buyers elsewhere, and a repaired fou

Real Property or Personal Property, and Why It Matters Selling a manufactured home in Texas is a different transaction from selling a stick-built house, and the difference is not cosmetic. It comes down to whether the home is legally treated as real property or as personal property, and that determines almost everything else. In Texas, manufactured housing is overseen by the Texas Department of Housing and Community Affairs. Ownership is evidenced by a Statement of Owner

Selling a Manufactured Home in Texas Selling a manufactured home in Texas is a different transaction from selling a stick-built house, and the difference is not cosmetic. It comes down to whether the home is legally treated as real property or as personal property, and that determines almost everything else. In Texas, manufactured housing is overseen by the Texas Department of Housing and Community Affairs. Ownership is evidenced by a Statement of Ownership rather t

What Happens to Your Mortgage When You Sell Most people sell a house they still owe money on, and most have only a rough idea of the mechanics. The mortgage does not transfer and it does not simply vanish. It gets paid off out of the proceeds at closing, and the order in which that happens explains several things that otherwise look strange. At closing the title company requests a payoff statement from your lender. That figure is not your remaining principal. It is princ

Selling a House When You Relocate for Work A job relocation turns a house sale into a scheduling problem. The start date is fixed, the move is fixed, and the house is the one variable that refuses to cooperate. Most of the bad outcomes here come from treating it as a pricing question when it is really a timing question. Work out your actual deadline first. Not the start date — the date after which carrying two housing costs becomes painful. If the new city requires