Buying an apartment with encumbrance
The rapid development of mortgage inevitably leads to the fact that the property market increasingly replenished apartment, located pledged to the bank. Someone could not perform mortgage obligations, someone decided to leave the country and who has found another way to solve their housing problem, and the apartment, burdened by a mortgage, it was not needed. According to various estimates, the number of collateral real estate now stands at between 5% and 10% of the total advertised apartments. Accordingly, such is the chance to "bump" on the mortgage object when choosing a new home.
Perhaps a chance and he is not great, but practice shows that mortgage apartments are very attractive on the market, and buyers do not give up on them, despite the difficulties of their acquisition. Before we talk about these challenges and ways to overcome them, it is to say what is good collateral property.
So, firstly, sellers of mortgage flats time is running out, they can not wait a few months and, therefore, establish a competitive market price. Secondly, in the apartments, which some time ago were bought in the mortgage, as a rule, made good repair. And thirdly, it's basically liquid objects, as evidenced by the fact of issuance of bank money to buy them. Each of these points is enough strong, but if they come together in a single object, the apartment becomes a godsend and a rare buyer refuses to buy it.
However, some of the nuances of the procedure is stopped foreclosure of real estate collateral. It is believed that the bank can not give consent to the sale of the object, and that even after the implementation of the Settlement, you can not be a debtor of the bank. Both of these opinions can not be called completely unfounded, but in practice such scenarios are extremely rare, and they are easy to avoid.
Do not agree to sell the apartment the bank can, in fact, in two cases: if it is already independently initiated the procedure for the sale, that is, the debtor has property taken, or if one of the co-borrowers do not want to leave the apartment, and is ready to independently carry out debt. The latter scenario is typical for couples who are able to divorce. But in other cases, banks without much delay, give permission to sell because their task - to get back the money and interest for their use. And sooner or later it will be for the bank is not so important.
Based on the above, we can advise one thing - in order not to waste your time before you make an advance payment for the mortgage object is to ask the consent of the bank's presence in the sale, and even better to see it.
The second common concern - is to buy an apartment in Moscow for a lot of money to fully pay its price, and still remain a debtor of the bank. Really scary! But fortunately, the proper conduct of the transaction excludes this possibility. It is mainly a question of the organization of settlements. The safest way - is the division of the sum of the cost of apartments in the two cells. First laid the balance owed on the loan, and secondly what is owed to the seller. And the bank and the seller will be able to pick up the money only after the registration of transfer of ownership. At the same time the fact of receiving the money the bank will be documented, and he will not be able to abandon the lifting of the pledge.
Sometimes sellers of real estate collateral to buy an apartment offer a different way: first to sign a preliminary contract of sale, then transfer to a large down payment equal to the sum of the loan, and after the debt will be repaid, and the burden lifted, conclude the basic contract. To agree to such a scheme is not necessary in any case, because after paying the mortgage, the seller may simply "change your mind" to sell the apartment, and return their money (and it most likely will not go about one million) already have a court.