All Topics / General Property / Discharging Loan on PPOR

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  • Profile photo of Real2Real2
    Member
    @real2
    Join Date: 2007
    Post Count: 15

    I have a question that I hope forum members can help me out with.   Later this year, (approx Oct), I am going to be putting my PPOR on the market.  I have a LOC loan on the property, which is due to be "paid off" by August.  In fact, the balance will be going into credit.   Is it in my best interests to discharge the loan completely, before putting my PPOR on the market, so that the house
    is being sold totally unemcumbered ?   What are the advantages to me of doing this, or does it make no difference when selling the house ?   ( After I sell my PPOR, I already have somewhere to live, so I won't have to buy another PPOR).

    To this point in time, I have only ever bought property, and have never sold a property, so I welcome as many tips on selling as possible.

     

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    I can't think of any benefit of discharging the loan a bit early.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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