In the sale of second-hand houses, because many houses were originally mortgaged by the bank, the seller must repay the bank loan and release the mortgage before the transaction, so that the house can handle the transfer procedures. So how to buy second-hand housing if the loan has not been done? How to deal with the house without money? Let's have a look.
1、 What are the possible risks of Foreclosure?
First, the seller has more than one loan
Your down payment is out, and the house loan may not be paid off. Fall into a dilemma, into, can not get the house, return, do not return the down payment.
In addition to bank loans, the seller may also mortgage the house and borrow other money. The seller gets your down payment to pay back, but it's just a drop in the bucket.
Second, the seller misappropriates the down payment
The seller did not go through the procedures of understanding the mortgage as promised, but used the money for other places, and even put forward unreasonable requirements for another amount of house money to solve the mortgage.
The most troublesome thing is that the owner has not released the mortgage, which leads to the closure of the house. Because the sealed house can not be transferred, it will be time-consuming and laborious if it is good, and it will lose both money and housing if it is poor. Therefore, when the landlord proposed to pay down payment in order to pay off the loan to release the mortgage, you must pay attention to buying a house.
2、 If you want to buy this house in particular, and the landlord is really short of money and can't afford to release the house, you can use the following methods to solve the problem:
1. Release of intermediary advance
The homeowner first finds an intermediary to repay the loan from the bank, and then sells the house to the person who wants to buy the house. After receiving the money, he returns the money to the intermediary.
In this process, the intermediary will charge the person who sells the house a certain amount of interest, generally ranging from hundreds of thousands to millions, even for a few days, or even more than ten days, there will be a certain handling charge.
Because the intermediary is also to help both sides deal with the purchase and sale of housing, so the intermediary holds the flow of funds of both sides, and it is very safe for the intermediary to advance the funds. Now many big agencies support this way of buying houses.
2. Refinance (transfer the loan to the buyer)
Re mortgage refers to the house sold as collateral by the borrower, and the buyer of the house will continue to repay the overdue loan of the seller with the consent of the loan bank.
That is to say, if the seller wants to have a house with a loan, he needs to transfer the mortgage of the house to the buyer, so that the buyer can continue to repay the seller's mortgage loan. The procedures of refinancing are quite complicated. There are cases of peer to bank and inter-bank transfer. There are many restrictions in the use of this method. At present, there are few banks that can transfer mortgage.
3. Refinance to pay off the remaining loan
The seller can consider using his mortgage (such as other real estate) to apply for mortgage loan from the bank or capital institution to settle the mortgage loan. Wait for the buyer to pay the full amount of the house before paying off the bank mortgage, but need interest or handling charges.
In a word, if you are not familiar with the seller or know that the seller is unreliable, the buyer should try not to use his down payment to redeem the house, because it is best to handle the transfer of money through capital supervision when buying and selling second-hand houses, and redeeming the house is a direct money transaction, which is quite risky. This risk can be avoided, or try to avoid it~