Can I Sell My Las Vegas Home If I Still Have a Mortgage? — Deidre Wilson, Las Vegas & Henderson, NV Realtor®

Can you sell your Las Vegas home if you still have a mortgage?
Yes. Most sellers pay off their remaining mortgage with the proceeds from the sale. The key is knowing your loan payoff amount and estimating your net proceeds. Deidre Wilson helps Las Vegas sellers understand their numbers before listing.

How Selling With a Mortgage Works

• Your lender provides a mortgage payoff statement showing the balance due.

• At closing, escrow uses the buyer’s funds to pay off your loan.

• Any remaining funds after costs are your net proceeds.

Key Steps to Take Before Listing

1. Find Out Your Payoff Balance

• Request a payoff statement from your lender.

• Remember this number may differ from your monthly statement balance.

2. Estimate Your Equity

• Equity = Home value – Mortgage payoff – Closing costs.

• Example: $465,000 value – $280,000 loan – $30,000 costs = $155,000 equity.

3. Calculate Net Proceeds

• Your Realtor can prepare a seller net sheet showing likely outcomes.

• Helps you plan for your next purchase or move.

Special Situations

Negative Equity (Owe More Than Value)

• Options include a short sale with lender approval.

• Less common in 2025 given rising Las Vegas home values.

Second Mortgages or HELOCs

• Must also be paid off at closing.

• Escrow ensures all liens are cleared before transferring ownership.

Las Vegas Market Insight

With a median price of $465,000 in 2025 (Source: LVR), many Las Vegas homeowners have built significant equity. Even sellers with recent purchases often see profits thanks to strong appreciation in neighborhoods like Summerlin, Skye Canyon, and Southern Highlands.

Deidre Wilson’s Advice

“Most of my clients sell while they still have a mortgage. The important part is knowing your payoff and net proceeds upfront so you can make smart decisions.” — Deidre Wilson

Your Next Step

If you’re thinking about selling your Las Vegas home but still have a mortgage, let Deidre Wilson & Associates prepare a custom net sheet for you.

📞 Call or text: 312-576-5448
📧 Email: sold@deidrewilson.com
🌐 Visit: www.deidrewilson.com

Disclaimer: For informational purposes only. Always consult licensed professionals for legal, tax, or financial advice.