You can borrow money from the auction house.
First of all, we have to understand one thing: what is a French auction house?
Baidu Encyclopedia is defined as: auction house, that is, "auction house property", is a house that is forced to be auctioned. When the debtor (owner) is unable to perform the loan contract or pay off the debt, the creditor applies for compulsory execution through judicial procedures and auctions the house under the debtor's name to pay off the creditor's rights with the proceeds from the auction. The house being auctioned in this process is the auction house.
The purpose of the disposal method is to quickly realize the case. In addition to being an investment, many people buy a house with the mentality of just missing it. Although the auction house is lower than the market price of new and second-hand houses, how many people can do it if the bidders really want to pay the full amount in one lump sum?
Many people give up the auction, which will inevitably lead to the delay in closing the case. So many non-performing assets keep piling up, and it is impossible to realize and enhance the value of assets, which will inevitably lead to unnecessary waste of resources and is not conducive to the sound development of society!
By the way, I want to ask a question: how many people can buy a house in full, whether it is a new house or a second-hand house according to law, if the bank does not give loans?
The data shows that no matter whether the house price drops or not, if the bank cancels the loan, at most only 0.2% people can buy a house in cash, in other words, 1000 people can't exceed 2 people.
The reason for the above viewpoint comes from the data when the Deposit Insurance Ordinance was implemented in 20 15. According to the regulations, the maximum repayment limit is 500,000 yuan. According to previous calculations by the central bank, this standard can cover all deposits of 99.63% depositors.
Since 20 15, although the income of depositors has increased, the average increase will not exceed the GDP growth rate, but the price increase is generally 50% or even 100%. Obviously, people who can buy a house in full will still not exceed 0.37%.
Give a chestnut: A person with 500,000 deposits may not be enough to buy a house in full. People with so much deposits are more concentrated in first-and second-tier cities. According to the current housing price level, 300,000-500,000 only have the ability to make a down payment, and even some places are not enough, and there is still a considerable distance from buying a house in full.
What does judicial auction mean?
The difference is as follows: the difference between auction and sale: 1, the procedure is different: the auction must be announced first to inform the relevant personnel to be present; There is no provision for such sale. 2. Different deadlines: the auction has a clear deadline from the announcement of the item to the auction time; Sales are not limited by time. 3. There are different methods to determine the value of the subject matter: the auction subject matter must be evaluated to determine the reserve price, and then the value of the auction subject matter is determined through bidding; There is no such procedure for sales. 4. Different forms: the auction takes an open form and the transaction is made on the spot in a competitive way; The sale can be directly handed over to the commercial department for acquisition or for sale. 5. The scope of the subject matter is different: the auction property is applicable to both movable property and immovable property; It applies to both general property and property with special value. Most countries have certain restrictions on the sale of real estate and property with special value.
Can I borrow money for the auction house?
Auction houses can only buy in full. You can buy it with the full loan first, and then apply for a mortgage loan from the bank. Mortgage housing loans need to have clear loan purposes and cannot be used for purposes explicitly prohibited by laws and regulations; Individuals cannot directly purchase the real estate and other property of the person subjected to execution. If you allow yourself and individuals to trade freely, you will inevitably fall into a quagmire. Auction companies are generally recognized by the people after the litigants reach an agreement through consultation; If negotiation fails, it shall be randomly determined from the list of auction companies determined by the person in charge of execution or the person where the property of the person subjected to execution is located; If both parties apply to determine the auction company through public bidding, the people's court shall allow it.
legal ground
Provisions of the Supreme People's Government on Auction and Sale of Property in Civil Execution Article 24 After an auction is completed, the buyer shall pay the price to the people or remit it to an account designated by the people within the time limit specified in the auction announcement or the time limit designated by the people.
Article 3 The person subjected to execution shall entrust an auction institution with corresponding qualifications to auction the property of the person subjected to execution, and supervise the auction of the auction institution, except as otherwise provided by laws and judicial interpretations.
Can I get a loan when I buy a house for sale?
Generally, loans can be made normally, but some houses will require a one-time payment. The biggest advantage of buying an auction house is that it is not limited to buying or lending.