But it also depends on the developer of the house you buy. Some may consider letting you cancel the contract and change your name.
There are generally two ways to deal with loan failure after signing a house purchase contract:
1. Pay the remaining house price in one lump sum.
2. Change the name and loan information and re-sign the house purchase contract.
If the above two cannot be solved, you can only choose to check out.
1. If the buyer actively violates the relevant contents of this contract, the buyer shall pay liquidated damages to the developer according to the relevant compensation proportion of the contract contents. If there is no detailed agreed proportion, we can refer to the proportion stipulated in China's contract law.
2. If the seller breaches the contract, it is necessary to investigate the developer's responsibility and corresponding compensation in accordance with the relevant provisions of the signed house purchase agreement.
3. If the purchase contract has been filed with the Housing Authority, developers and buyers need to go to the Housing Authority to apply for cancellation of the purchase contract.
If the mortgage is not handled, the reasons for not handling the mortgage formalities should be distinguished. If the house cannot be purchased due to the buyer's reasons, the buyer shall be liable for breach of contract. If the seller fails to sell the house due to the developer's reasons, the sales contract may be terminated without fault of both parties. At this point, the buyer and the seller can sign a supplementary agreement to re-arrange the payment method. If the two parties fail to reach a new agreement, resulting in the failure to perform the purchase contract, both parties may terminate the purchase contract.
For example, after the signing of the sales contract, the bank is unwilling to lend because the developer has insufficient credit. This situation does exist, and this situation is the responsibility of the developer. There is also the buyer's lack of credit, such as having a bad record, owing loans to the bank before, and the bank is unwilling to lend to the buyer. This is the so-called belonging to one party. For this reason, the bank refuses to lend, and this party must bear the responsibility for breach of contract.
On the other hand, it is not the responsibility of both parties, but after the New Deal comes out, or the country's money is tight, banks refuse to lend at this time. If it does not belong to both sides, it is a policy issue. At this time, according to the judicial interpretation, the house purchase contract can be terminated through consultation between both parties.
However, there is another very important situation. In one case, it is impossible to approve, and you may not approve if you want to borrow 80%. On the other hand, you may agree with 70%. If you agree that less than 10% will not have a significant impact on the performance of the contract, you still have to perform the contract. It cannot be said that the bank will not buy a house if it only approves 70% of the applications. At this time, you may be liable for breach of contract.
Extended data:
The purchase contract is an agreement reached between the buyer and the real estate development enterprise on the basis of equality, voluntariness and consensus according to the Contract Law of People's Republic of China (PRC), the Law of People's Republic of China (PRC) on Urban Real Estate Management and other relevant laws and regulations.
Precautions:
1. The Buyer and the Seller shall read the contents of this contract carefully. If they disagree with the contract terms and professional terms, they can consult the local real estate development authorities. If there is no objection, it is deemed that both parties agree.
2. Before signing the contract, the seller shall show the relevant certificates and supporting documents provided by the seller to the buyer.
3. The terms of the contract shall strictly abide by the People's Republic of China (PRC) Contract Law, the People's Republic of China (PRC) Urban Real Estate Management Law and other relevant laws and regulations, and the Ministry of Construction of People's Republic of China (PRC) and the State Administration for Industry and Commerce shall be responsible for the interpretation.
The simple and popular understanding of loan is to borrow money with interest.
Loan is a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must return them. Loans in a broad sense refer to loans and interest subsidies? A general term for borrowing funds such as overdraft.
Banks put concentrated money and monetary funds out through loans, which can meet the needs of social expansion and reproduction and promote economic development. At the same time, banks can also obtain loan interest income and increase their own accumulation.
The "three principles" refer to safety, liquidity and efficiency, and are the fundamental principles of commercial banks' loan operation. Article 4 of People's Republic of China (PRC) Commercial Bank Law stipulates: "Commercial banks should operate independently, bear their own risks, be responsible for their own profits and losses, and be self-disciplined, and take safety, liquidity and efficiency as their operating principles."
1, loan security is the primary problem faced by commercial banks;
2. Liquidity refers to the ability to recover the loan within a predetermined period or realize it quickly without loss of land, so as to meet the needs of customers to withdraw deposits at any time;
3. Efficiency is the basis of sustainable operation of banks.
For example, if a long-term loan is issued, the interest rate will be higher than that of a short-term loan, and the benefit will be good. However, if the loan term is long, the risk will increase, the security will decrease and the liquidity will weaken. Therefore, the "three natures" should be harmonious, so that there can be no problem with the loan.
References:
Baidu Encyclopedia-Purchase Contract
References:
Baidu encyclopedia-loan