Can I sell my house if I still have a mortgage on it?

davidmcn

Daniel87 said:

davidmcn said:

Are you even sure that's how it works in Romania? I would have thought the bank would want a say in who their new borrower was - in which case it's effectively the same as in the UK i.e. the new owner needs to apply for their mortgage.

Off course the bank must aprove the new burrower, so he must prove he have a source of income and can afford to pay the mortgage.
I show you an example advertisment posted by the current home owner , my english is not the best and i am not sure how to translate some terms but i hope you will understand

I hand over the mortgage to the developer for the apartment in Fusion Tower, Nicolina 120. The apartment is handed over exactly as you see it in the pictures, fully furnished with absolutely everything new. Starting with September 15, the apartment is rented for 350 Euros per month, so it is a good investment.The required advance represents the furniture costs and the rates paid from February 2020 until now. The rate is 605 euros per month for a period of 15 years.

I'm not sure what the advantage is of "handing over the mortgage" though. Is it at a rate which the buyer couldn't otherwise now obtain?

theoretica

Daniel87 said:

it's almost one year since i open this topic but i bring it back to life with another question because it's related.
In Romania (country from where i am ) you buy an apartment and after some time you can sell it at the price you want  + transfer the what is left from your mortgage to the new buyer.
Example:
The house cost you 70.000 you put a deposit 15000 and make a mortgage for 25 years, pay evry month 350 *10 years = 42000
and after 10 years you look at the prices in the market and you set your own price so you i am thinking i could get 42000 that i paid over 10 years + 15000 deposit + if the price increase a little bit is a bonus, off course there are some taxes that must be paid + fees, i don't have an ideea about how much these taxes will be, i know the prices could also drop, so maybe nobody will offer me the price that i want we could negociate about it.
So i could ask the to get 50.000 and the buyer will pay what is left 15 years * 360 monthly 
So the question is , here can be done same thing?

So you bought it with 15000 in cash (+ mortgage), but your buyer needs 57000 cash (+ the continuing mortgage)? Unless they actually get a new mortgage for more, that would seem to restrict the pool of potential buyers.  But actually the 'we could negotiate' is exactly the same - the seller decided what they want, the potential buyers decide if they will give that or not - it may be as much as the seller wants, it may not.