A realistic sale price can be below the amount needed for loan redemption and other settlement costs. In that case the sales calculation ends with an additional funding requirement. You must neither ignore this shortfall as a mere accounting loss nor tacitly treat it as waived by the bank.
Calculate the undercoverage case concretely
In the entirely fictitious example the sale brings in 210.000 Euro. For the assumed redemption date 225.000 Euro in loan repayment and a further 6.000 Euro of already considered settlement payments are planned. The total requirement is 231.000 Euro; compared with the price there is a shortfall of 21.000 Euro.
The available liquid funds amount to 8.000 Euro. Even if these were used in full, 13.000 Euro would remain uncovered. Whether these 8.000 Euro are actually dispensable must be examined separately: even after the sale personal living and housing costs will continue to exist.
Distinguish between loss and payment gap
The additional amount required here describes the financing of the assumed settlement. It is not a complete calculation of the economic loss since acquisition. For that, initial outlay, subsequent payments and returns would additionally be necessary. Conversely, a favourable purchase price at the time of acquisition does not make today’s payment gap disappear.
Bring the parties together before a binding sale
Obtain a redemption statement valid for the planned date and discuss with the financing institution and the legal settlement adviser what concrete arrangements are at all possible. In particular, clarification is needed on cash contributions, handling of any remaining debt, release of securities and the conditions under which a sale could be settled. This site asserts neither a claim to release nor a claim to new financing.
An oral statement that the remainder will be “sorted out somehow later” is not yet a comprehensible solution for your own plan. What is needed is a clear allocation: who will owe which amount afterwards, on what terms and with which actually confirmed payments?
Compare alternatives with their own costs
A higher price, a later sale or a different use can be examined as options. They must be realistically substantiated; the further loan and property encumbrance during the waiting period is part of each option. Mere waiting for a desired price does not finance the intervening months.
Preparation is complete when either a viable agreed route for the undercoverage exists or it is apparent that the intended settlement is not currently covered. The case does not provide an individual recommendation to sell and gives no statement about a specific bank decision.