Can I buy a house by installment?
Buying a house by installment means that you can get the right to use the house by paying part of the money in advance, and the rest should be paid off year by year within the prescribed time limit.
Buying a house by installment is a price settlement method of housing credit sales business, which is widely used in housing sales. In our country, installment payment is widely used when selling old public houses. Under normal circumstances, employees who buy houses will pay 30%-50% of the house price first, and the rest will be paid within 5 years or longer. Installment payment is also widely used in the settlement of new houses.
1, the first is the trading cycle. Property buyers usually propose a suitable deadline according to their estimated fund-raising time and reach an agreement with the owners. Compared with bank mortgage and lump-sum payment, this installment transaction is characterized by a long period. It usually takes 3 to 6 months from determining the transaction intention to delivery.
2. Secondly, the time node of payment. Generally speaking, the total period of installment transactions has 3 to 5 time nodes. Among them, one time node is very important. Generally speaking, this time node is also the delivery date. Property buyers need to pay the corresponding money to their families within the specified time according to the contract. In terms of the amount of money, the owners have different requirements.
3. Liability for breach of contract. The liability for breach of contract in installment contract is similar to that in mortgage contract. If the buyer can't pay the corresponding amount at the specified time node, he must pay the liquidated damages at the rate of 0.5‰/ day of the total house price. If the house payment is not paid after seven days, the owner has the right to demand the next home to pay a penalty equivalent to 20% of the house payment, and has the right to unilaterally terminate the contract.
What are the loan conditions for buying a house by installment?
1. The house used for handling two mortgage should be a large-scale house or commercial house on the market;
2. The house used for the second mortgage must be an existing house, and the real estate license has been obtained;
3. The house has been insured, and the original policy is kept by the bank;
4. The loan balance of the second mortgaged property is lower than 70% of the current house price;
5. The borrower is a natural person with full capacity for civil conduct, with stable work, stable income, good credit and no bad credit record;
6. The house in two mortgage has a superior location, convenient transportation, complete supporting facilities and rich profits.
To sum up, this paper mainly talks about whether the installment house can be loaned and all the contents of the loan conditions of the installment house. Now we can get a positive answer. We can also borrow money from a house by installment, but the loan conditions are more and the pressure on ourselves is relatively greater, so everyone should apply for a loan according to their own actual situation.