The proceeds of your sale are used to pay any amount owing on a mortgage or other loan secured against your property title. We will obtain a payout statement from your lender which specifies the amount due, including any prepayment charges. We do not negotiate any amounts due. In the event there are not sufficient proceeds from the sale to pay the amount due, you will be required to pay the shortfall prior to the sale closing. This amount is paid to our office, and in turn we pay the total amount due to the lender.
