Generally, when you sell your property at a higher value than your mortgage, this means that you will definitely make a profit. However, this is not always the case as you may, at times, find yourself making a profit that is almost equivalent to zero or even a loss.
How Your Profit Get Distributed When You Close A Deal
When making a property deal, there is always the right and legal process to follow. In most cases, there is a go-between who takes care of the fund’s transfer processes from the client to the seller. The go-between can either be a real estate attorney or agent, an escrow agent company, or a title company. These are the people who will receive the money from the lender in cheque form and then use it to clear the mortgage. However, this will mostly depend on where you live.