You can buy it, but you can't go through the transfer formalities, which is prone to disputes. You need to pay off the loan before you can handle it. The establishment, alteration, transfer and extinction of the real right of immovable property shall take effect after being registered according to law; Without registration, it will not take effect.

Legal objectivity:

Article 209 of the Civil Code states that the establishment, alteration, transfer and extinction of the real right of immovable property shall take effect after being registered according to law; Without registration, it will not take effect, except as otherwise provided by law. Natural resources owned by the state according to law may not be registered.