selling land

[muneeee]

What is the name of your state? ohio

I have 5 acres of land which are financed and i want to sell 1 acre of it. will the banks let me sell?

 

[HomeGuru]

What is the name of your state? ohio

I have 5 acres of land which are financed and i want to sell 1 acre of it. will the banks let me sell?

**A: most likely not unless the total proceeds from the sale go towards paying the mortgage down. Ask them if they are willing to release the mortgage on the one acre. If the 1 acre is a separate lot it would be easier to sell. Otherwise you must subdivide.