Can I Sell My House Before 1 Year in North Carolina

Can I Sell My House Before 1 Year in North Carolina?

The answer is YES YOU ABSOLUTELY CAN “Sell my House Before 1 Year!”

… but you might be losing a lot of money. The reason is that you haven’t had a lot of time to build up a lot of equity and you’ll have to pay to sell your house.

Let’s start with an example…

So I need to sell a house I bought 1 year ago…

Let’s say you took the most traditional route – a 20% down conventional loan on a house worth $100,000. Meaning you paid 20,000 (plus closing costs) for your home. Now you’re relocating and 6 months later you’re selling your house for $105,000. Awesome! You bought low and sold high, so you made it good, right?


You’ll have to pay out about 10% in fees due to commissions, taxes and other fees. So there’s $10,500 right there.

On top of that, you’ll have to pay off the remaining mortgage balance. And in the first year, your mortgage payments almost exclusively go to interest, so you’re still going to have to pay off almost the full $80,000.

That leaves $14,500 in your pocket. But remember, you paid $20,000 to get the house, so….

You lost $5,500 or 27.5% of your initial investment.

In another common scenario, if you bought your house using an FHA (3.5% down) or a VA (0% down) loan, you may end up being way in the negative to buy and sell your house in North Carolina

How Can I Sell My House Before 1 Year In North Carolina and Keep More Money?!?

You can explore selling through what’s called a “Subject To” or “Contract for Deed.” This simply means that the end buyer will take over the existing mortgage (hence subject to existing mortgage) and the the title deed will transfer to the end buyer as well. If you have equity in your house, you can negotiate getting some extra cash in addition as well.

At TC Cummings Property, we buy houses in North Carolina all the time through a Subject To sale all the time. We cover all closing costs, there’s no commissions and can close in just a few days. If you found yourself reading this article and watching the video because you did a Google search of “can I sell my house before 1 year” and you’re in or around North Carolina, fill out the form below and let’s see if we can help you sell your home fast with a little more money in your pocket!

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