Legal Question in Real Estate Law in Kentucky
What do I need to do to sell my home by take over payments?
We want to sell our mobile home by take over payments with someone refinancing in their name. Do I need to talk to the bank where my loan is financed before I can do this?
What steps do we need to take to do this?
1 Answer from Attorneys
Re: What do I need to do to sell my home by take over payments?
From your question, I assume that you want the new buyer to be able to take over the payments. It will be up to the lender whether or not they will approve your buyer and remove you from the loan. You will need to speak with them. You can also enter into a "sale contract" where the buyer makes payments to you and you continue to pay your lender. You need to speak with an attorney in your area about this since he can create a contract that will suit your situation.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
