1. When a contract has been concluded, it is necessary to determine whether the contract is valid. If you are not informed at the time of purchase and thus harm your own rights and interests, you can claim that the contract is invalid and has no legal binding force. You can then ask the seller to return the purchase price and compensate for the corresponding losses.

2. If the buyer is informed before purchasing and the mortgagee is notified, then the contract will be validly established in accordance with the law. The price obtained from the transfer of a house shall be paid off to the mortgagee in advance for the guaranteed creditor's rights or deposited with a third party agreed with the mortgagee. When the principal debt is paid off, the debt is extinguished and so is the mortgage. Title acquired at this time is without obligation.

Risks of buying second-hand houses

1. If the seller (debtor) fails to notify the mortgagee or home buyer, the transfer will be invalid. The Civil Code stipulates that when a mortgagor (seller) transfers a registered mortgage, he shall notify the mortgagee and inform the transferee that the transferred property has been mortgaged, otherwise the transfer will be invalid.

2. The Civil Code also stipulates that the mortgagor (seller) shall not transfer the mortgaged property without the consent of the mortgagee, except where the transferee pays off the debt on his behalf to eliminate the mortgage right. Once the mortgagor (seller) wants to sell the mortgaged house, he must notify the creditor and the buyer, and the transaction can only be completed after both parties agree or understand the situation.

3. There are multiple mortgages. When buying a mortgaged house, you should be wary that the mortgagor (seller) has multiple mortgages on the house. That is to say, he may not only mortgage the house to one bank, but to multiple banks, and may even involve private lending. In this case, multiple debt relationships are involved, and the interests of all parties conflict. When the time comes, the situation will continue to be chaotic, and there will be no room for reasoning.

4. It is difficult to check out. If you find out that the house you purchased is a mortgaged house, it is not easy to terminate the relationship. It may require you to pay liquidated damages, or it may involve the interests of many parties. When the time comes, other people will not get the house, which will cause trouble all over.

What should I do if the down payment is not enough?

1. Use the provident fund wisely

Some friends’ personal provident funds are relatively high. If you have a provident fund, then you must Make good use of it, because the provident fund can also be withdrawn and used. If a home buyer encounters a situation where the down payment is insufficient when purchasing a house, they can consider withdrawing the provident fund. However, it should be noted that the provident fund cannot be used directly for the down payment. They must first advance the down payment themselves, and then withdraw the provident fund with the purchase contract and invoice. .

2. Use other loans

In fact, in addition to mortgage loans, there are many other types of loans, such as credit loans and policy loans. These two types of loans are short-term loans. If a home buyer wants to use these two types of loans to collect a down payment, they need to pay attention. Although applying for another loan will give them an additional loan, the home buyer must measure their repayment ability.

3. Seek help from parents

Many young people nowadays rely on their parents to buy a house. When you encounter difficulties, the first thing you think of is your parents. Your parents will always be your strong support. If your parents are financially well off, you can seek support from your parents, but it should be noted that parents only help, not what you should take for granted. You should return it to your parents when you have sufficient funds, and thank them.

4. Change the home purchase plan

If the home buyer really can’t think of other ways to raise the down payment, then the only choice is to change his home purchase plan. The editor does not advocate the behavior of buying a house that exceeds your own house purchase budget. If the down payment for a house is not enough, buyers can consider re-planning to buy a smaller house, or a house in a slightly more remote location.