Yes, you can list your property for sale while it has an active loan. The sale settles your loan automatically, and you keep whatever is left.
How it works
Click Put for sale on your property page, like any other listing.
The List Property for Sale window shows your loan payoff alongside the price. Your price must at least cover the payoff. If it doesn’t, you’ll see: “Heads up: this price wouldn’t cover your loan payoff. Enter at least $X.”
During listing you’ll approve an extra step, Loan Payoff Approval. As the app puts it: “This lets the sale pay off your loan automatically at closing.”
When the property sells, the proceeds first pay off the loan in full. You receive the rest, minus Fabrica’s 1% marketplace fee, which is paid from the seller’s proceeds.
So if you owe $8,000 on the loan and sell for $50,000, the loan is paid off at closing and the remainder comes to you. No separate payoff errand, no risk of forgetting.
While the loan is active
You can list the property for sale.
You can keep editing photos and the description.
You can’t transfer the property between wallets or remove it from Fabrica until the loan is paid off. Paying off the loan early with Pay Off Loan is always an option if you’d rather sell unencumbered.
Good to know
Until the loan is settled, buyers may see a note on your listing that the loan needs to be paid off before the property can be bought. Setting a price that comfortably covers the payoff keeps your sale as smooth as possible.
If you get stuck, message us through the chat bubble in the corner.
Learn more: Lending pool in our docs.