There are often situations when someone sells excess housing and wants to make a deal as soon as possible, but as luck would have it, there are no buyers who are ready to pay right now - everyone plans to acquire their own square meters, resorting to a mortgage loan. How to sell an apartment on a mortgage, and not for cash? What nuances await you as a seller of real estate if you are ready to contact a client of the bank? What is the difference between a deal to sell housing through a mortgage from the usual scheme with payment from own funds?
What are the advantages of selling through a mortgage?
Do not worry too much and think about
how to sell an apartment on a mortgage, better get acquainted first with all the advantages that a transaction involving a bank will bring you. First of all, you need to understand that if you have agreed with the buyers, they will not be able to refuse to purchase your square meters, because the bank will approve the purchase of your apartment, and you just have to calmly wait for the funds to arrive. Guaranteed purchase with prior approval will allow you to relax and not lose the customer.
Do not worry about a number of formalities if you are thinking about how to sell an apartment on a mortgage - the bank will take over or oblige the borrower to take part in the preparation of documents, conduct an independent assessment, prove the legal purity of the transaction and collect other documents. This is a huge plus.
Before you sell an apartment on a mortgage, understand for yourself: you will definitely receive the money on the very day when it is stipulated by the terms of the contract, and there will not be any problems with the security of settlements - the bank will control the process of transferring funds. In addition, you are definitely not waiting for any fraud and fraud with counterfeit notes or an agreement drawn up in favor of third parties.
By the way, even in a seasonal decline in the real estate market or during a crisis, you can sell your living space, because the buyer will be able to borrow money from a bank, rather than rely on his own strength. You do not even have to do discounts.
What are the differences in the sale of housing through a mortgage?
For a while you will find yourself in limbo. You will have to wait for the bank’s decision to issue a mortgage loan for the purchase of a specific apartment, but then everything will go as it should — the procedure for registering a home for a mortgage in all financial institutions has already been established, and you do not need to think which step is next - everything is thought out by the lender.
When preparing a property for sale, you will have to sweat both the buyer and the seller. The bank will require a solid package of documents with data on the purchased apartment. When deciding how to sell an apartment through a mortgage, you will first need to prove that it meets the stringent requirements and conditions of mortgage lending of this particular bank.
When submitting documents for registration, as well as when submitting an application to the bank, the package should contain all the real estate papers. The bank does not issue a loan for illiquid assets , and housing should be sold at a market price. So to profit from square meters of indecent quality at an inflated price will not work for you.
It is quite possible to sell an apartment on a mortgage of Sberbank, despite the opinion that it is the most picky lender in the country. But he has every right to be so, as he offers the lowest cost of borrowed funds and ensures high reliability of transactions.