This arrangement can make more flexible use of different loan resources, so that borrowers can pay off their loans on time and meet their repayment ability and capital needs.
Can a house with a mixed loan be sold?
Of course. To buy or sell real estate, it is necessary to ensure that the real estate is not mortgaged or sealed up. If the property is mortgaged or sealed up, the Housing Authority will not be able to transfer ownership. Therefore, if you want to sell the mortgaged house, the most important thing is to pay off the mortgage first, and then cancel the mortgage before you can go through the transfer formalities. There are two ways to repay a mortgage, one is that you have enough funds to repay it, and the other is that you don't have enough funds to repay it.
If the buyer buys the house in full, he can go to the bank to make an appointment for repayment after signing the purchase contract. The repayment period is uncertain. Some banks may allow repayment the next day, and some banks may need to make an appointment several months in advance to repay. By the repayment date, the buyer needs to return the remaining principal to the bank in one lump sum. The bank will issue a settlement certificate, which may require the buyers to cancel the mortgage by themselves, or the bank will cancel the mortgage by itself. After the mortgage is released, the transfer formalities can be handled.
If the buyer buys a house through a loan, the buyer needs to apply for a loan from the bank first, and the seller can repay it after approval. This is because the seller is worried that if he repays the loan first, the buyer's loan may not pass. After the approval, the seller can make repayment. After the repayment is completed, it is necessary to cancel the mortgage before the transfer can be made.