With the execution of some loans, borrowers provide the bank with collateral. This serves as a guarantee that the money will be returned in any case. Liquid property is real estate, securities, transport. Upon successful repayment of loans, the burden is removed from the property. But if the money is not returned, then the bank can sell the property. The sale of collateral by Sberbank is described in the article.
About the pledge
The pledge should be liquid property that is transferred to the bank in case of insolvency of the client, violation of the terms of the contract and the schedule for making payments. A credit institution always uses its right to sell property, since it needs not only to return borrowed money, but also to make a profit.
The value of collateral is less than market, which attracts buyers. This is due to the need to quickly make a profit. The interests of the borrower are not taken into account. In Sberbank, most of the property is presented in the form of real estate, since it is it that is provided for mortgages and other loans.
Procedure
Sberbank sells collateral in two cases:
- based on a court decision;
- by mutual decision of the lender and the borrower.
The institution does not immediately sell the property, but only after violation of the terms of the contract and the absence of payments for more than 3 months. It should be borne in mind that this measure is extreme. First, customers are offered debt restructuring. With complete insolvency, the bank goes to court. Things may not come to this if the client has agreed to the voluntary sale of collateral by Sberbank.
Nuances
The implementation procedure is carried out by mutual agreement of the debtor and the creditor or on the basis of a court decision, if there is no agreement between the parties. The borrower has the right not to wait for a court decision and to sell the property on his own, but with the permission of the bank. Since the pledge implies a ban on registration operations, without the consent of the implementation will be impossible.
If the client is insolvent and at the same time cannot pay the debt for restructuring, the bank goes to court. This is necessary to obtain permission to sell the property. Usually the court accepts the party of the creditor, and upon receipt of the court order, the bank sells the subject of the pledge. The debtor has 2 or 3 months for the voluntary sale of property, which is much more profitable for him.
Debt coverage
If in a short time the borrower sold a mortgage, for example, real estate, then first he must pay the debt to the creditor. It turns out that the client independently determines the price of the object, it can be equal to the market, it is important that the proceeds be enough to fully repay the loan.
If time is up, the sale of collateral by Sberbank is carried out independently. The lender's task is to quickly return the borrowed money. To get benefits faster, he reduces the price of housing or other property by 20-25% of the average market value. The proceeds may not be enough to pay the loan, so the borrower still has a part of the debt.
Auctions
Sberbank of Russia sells collateral after a court decision. It is then that it is put up for auction. How is this done? On the Internet there are electronic sites, which are called electronic auctions. The buyer of the collateral will be the user who offers a great price.
Those who wish can be a buyer, including the debtor himself. To do this, you must register at electronic bidding, the user needs an electronic signature. When accreditation is confirmed, the user should replenish the account with an amount that should be at least 2% of the price of the purchased object.
Trading Features
Sberbank pledged property is auctioned. The bank puts a deposit on the site and sets the initial price. It is usually equal to 70-75% of the market value of the pledged property. Then users offer their prices, but not less than the minimum. The buyer will be the one who offered the highest cost.
If in 2 weeks there was no buyer, the price is reduced by 15%. This lasts until a buyer is found. A loan or mortgage can be issued as collateral. Available in cash. A pledge auction is carried out thanks to an automated trading system on the Sberbank AST website. She has been working for more than 6 years.
On this site, you can find many real estate at a competitive cost, since the bank sets only the lowest price. The site is convenient, has a comfortable interface. There is a commercial and residential property on the window. Therefore, the buyer can be an individual and a legal entity.
Pros and Cons of Shopping
Sberbank sells collateral in Moscow and other cities in the same way. Customers note the following benefits of buying a property:
- Sberbank employees carefully check the suitability of the property for subsequent use, thus providing a guarantee of the quality of the properties being sold.
- The price of property is less than the value of objects sold on the market.
- The bidding process is open and affordable.
- Save time with the electronic trading system.
- The same rights of bidders.
- Fair competition.
- Accessibility of bidding for everyone.
- Ability to set bids at any time.
The disadvantages include the likelihood of difficulties with documentation and use, if the bank has not carried out a thorough inspection of the facility, or if the borrower has not been notified of the confiscation of property.
The sale of collateral by Sberbank in St. Petersburg and other cities has its own nuances. To avoid unpleasant situations, you need to contact the sellers about all the details regarding the objects being sold. It is also necessary to check the legality of the sale, find out if the client is notified, and if there is any relevant documentation. Only with careful attention to the transaction will it be possible to competently perform the procedure.
Total
Thus, the sale of collateral and other property by Sberbank is carried out according to the standard procedure. Anyone can purchase an object, but only after registration at the site. This requires an electronic signature. You can find out about its receipt on the website of the State Services. Also, registration will require documents, including TIN, passport and SNILS. Accreditation is performed approximately one week after verification of user data.
The acquisition of collateral is beneficial to the buyer. After all, he has the opportunity to become the owner of liquid assets at a low price. For example, if you want to buy an apartment through an auction, then you need to select the object that meets the requirements. Then you should offer the highest price. After that, there is the possibility of obtaining a mortgage.