The house with the loan was sold.
Some people have bought a house and haven't paid off their mortgage, but they want to sell it for some reason. Is this feasible? Can I buy or sell a house that has not paid off the loan?
That is, according to the regulations, if you buy a house by mortgage, you should register the house mortgage after registering the property right. As the mortgagee, the bank will get the Property Ownership Certificate.
After the registration of real estate mortgage, the house ownership certificate is taken over by the purchaser, and the bank holds the house ownership certificate. The registered property has been recorded in the property file before the loan is paid off, and it is not allowed to buy or sell.
Then why did you hear that someone else was trading? Need to be clear first, the buyer must obtain all the property rights of the house before selling, that is to say, we must first determine whether there is a real estate license. So here can be divided into several situations.
1, remortgage
Mortgage is a relatively simple way to sell or transfer personal housing to a third person, apply for personal housing loan to change the loan term, change the borrower or change the collateral.
In the sale of second-hand houses, individual housing is sold or transferred to a third person for individual housing loan, loan term change, borrower change or collateral change. It should be noted that it is necessary to entrust an intermediary agency to apply to the bank for remortgage, and the bank does not accept individuals to apply for remortgage of second-hand houses.
2. Pay off the remaining loan with the buyer's down payment.
The more common way is suitable for the case that the original owner's loan amount is low or most of the loans have been paid off and the remaining repayment amount is not large.
Generally speaking, buying a house can accept 30% to 40% of the total transaction volume of the property. Selling a house can use the down payment of the buyer to settle the remaining loan, and then cancel the mortgage registration of the property and make the next transaction.
3. Use bank loans to pay off the remaining loans.
If the above two methods fail, the seller can consider using collateral (such as other real estate) in his name to settle the mortgage loan.
If you want to pay off the loan before selling the house, or if the buyer is optimistic but unwilling to buy the property with outstanding loan, you can take this way. The premise is that the homeowner has collateral (such as other real estate) recognized by the bank to apply for a loan from the bank. In this way, the seller pays off the real estate loan he wants to sell through mortgage, and the buyer pays off the bank mortgage loan after paying the full amount.
So the house can still be sold before the loan is repaid. But to know whether there is a real estate license, the risk of buying and selling a house without a real estate license is high. Property buyers buy a house without a license, only the right to use the house, not the ownership of the house, so they must be vigilant when buying.