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.
How the payoff behaves depends on your loan. Some loans accrue interest over time, so the payoff keeps growing until the sale actually completes. For those, the listing screen shows two figures: the net amount you would receive today, and the amount if the property sells by your loan's due date. Other loans are fixed-term: you owe a set repayment amount no matter when it is paid, so the payoff does not grow and you will see a single net figure.
Keep your price above the payoff
If your loan accrues interest, set your price with enough room above the payoff, because the payoff grows over time. If interest ever catches up to your price, the app tells you the date it will happen with a note like: "Heads up: as loan interest grows, this price will stop covering your payoff around [date]." After that date your listing stays visible, but no one can buy it until you either re-list at a higher price or pay off the loan. Pricing comfortably above the payoff avoids this entirely. Fixed-term loans do not grow this way, so this warning does not apply to them. Either way, if you are unsure which kind you have, the Under Loan card on your property page shows your exact figures.
While the loan is active
You can list the property for sale.
You can't edit the property's photos or description, transfer the property between wallets, or remove it from Fabrica until the loan is paid off. While the loan is active, the property is held as collateral, so these actions are paused.
Paying off the loan early with Pay Off Loan is always an option if you'd rather sell unencumbered, and it restores all of the above.
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.