Hey guys, I got a question, do title companies take care of the mortgage left on a house or does the owner have to pay it even though they are going to sell the house?

Originally posted by @Parsa Izadpanah :

Hey guys, I got a question, do title companies take care of the mortgage left on a house or does the owner have to pay it even though they are going to sell the house?

 Not 100% clear on your question, but what normally happens:

- Sales price $100k, existing mortgage $60k, hypothetically assume there are no closing costs.

- Title/escrow pays off $60k mortgage, you get the $40k of change deposited into an account you specify. 

- This will generally be a condition of title issuing both title insurance to the new owner, as well as to the new lender, and the new lender isn't going to lend without title insurance. 

- If something went awry with that payoff, it's on the title insurance carrier to make it right one way or another.

You absolutely answered my question Chris, thank you man!