Can the down payment be refunded if the house purchase loan is not approved?
Generally, real estate developers will let you go to other banks for loans, depending on the reasons why your loans can't be approved. If you can afford it, you will generally ask for an extension of the repayment period.
If you want to check out, you must discuss with the developer. Even if you agree, you have to pay a certain penalty. If you don't agree, you can only find a way to make up the rest of the money yourself, because the sales contract is valid.
But you can find a way to find a developer, because you can't get the loan, and they can't get the balance. They are more anxious than you.
Before signing the sales contract, negotiate with the last one. If the bank has no money to lend or is slow to lend, it is not a breach of contract. If there is something wrong with your own credit, you should bear the responsibility for breach of contract. Now banks are short of funds, commercial loans are relatively slow, and provident fund loans are quite fast.
Try to pay in one lump sum. If you can't get a loan for personal reasons, you should compensate the owner for liquidated damages, or find an intermediary company, because you may buy a house through an intermediary company and don't know your information in the early stage. If it is due to national policy, you can negotiate compensation with the owner. Moreover, when signing the sales contract, try to indicate that if the loan cannot be made due to policy or personal reasons, the contract will be automatically terminated. As long as you meet the loan conditions in Shanghai, you can get a loan.
The reason why mortgage loan for buying a house can't be done
1. developer's reason: if a developer sells a house that is not qualified for sale, that is, if the developer fails to obtain a pre-sale permit or sells an existing house that is not qualified for use, the bank will not grant a loan when reviewing this situation. At this point, the buyer can ask the developer to refund the down payment and deposit, and ask the developer to pay the corresponding interest loss.
2. Reasons for the buyer: If the information provided by the buyer is untrue or the buyer's credit record is bad, the bank will not approve the loan, and the buyer will be liable for breach of contract.
3. Non-seller's reasons: If the government policies or bank regulations change and the loan that the buyer should get cannot be realized, the buyer should negotiate with the developer. If negotiation fails, there is no agreement in the contract. Property buyers can sue to prove that they are not at fault and are really unable to buy a house, and ask the developer to repay the down payment and deposit.
How to deal with the failure of mortgage loan
1. If the bank does not accept the loan application at all, the buyer shall be liable for breach of contract.
2. If the buyer signs a loan contract and a mortgage contract with the bank, but the bank fails to lend money on time, the buyer can claim the liability for breach of contract from the bank according to the loan contract after assuming the liability for breach of contract to the developer.
Lawyer reminds: Confirm the credit status before signing the house purchase contract.
When buying a house, if the majority of property buyers need to apply for a mortgage loan from the bank, before signing the purchase contract, they must find out whether they are qualified to buy a house, whether they are restricted from buying, or whether there are a large number of outstanding loans in their own names and whether there is any problem with their credit standing.
If the bank refuses to approve the mortgage loan because of the personal credit or qualification of the purchaser, the purchaser will constitute a breach of contract. Not only can't buy a house, but also pay liquidated damages.
As a third party in the relationship between buyers and developers, banks are not binding on sales contracts. Instead, the buyer who fails to pay the balance according to the contract shall bear the liability for breach of contract to the developer.
In addition, as far as the loan relationship is concerned, if the buyer cannot apply for a loan due to personal credit and other factors, the bank will not bear any joint liability. However, if the buyer and the bank have signed a loan contract and mortgage contract, but the bank fails to lend money according to the stipulated time, then the buyer can only bear the liability for breach of contract to the developer first, and then pursue the liability for breach of contract from the bank according to the loan contract.
According to the relevant laws and regulations of our country, payment is the basic obligation of the buyer in the sales contract relationship. If property buyers can't get a bank loan because of their credit problems, they should use their own funds to pay off the purchase price, which can't be said to be the responsibility of the developer. To this end, we must be cautious in mortgage purchase, and we should also comprehensively consider our own repayment ability and other factors. Otherwise, not only can you not realize your dream of buying a house, but you may also be liable for breach of contract.
Lawyers reminded that at present, many property buyers have signed purchase contracts. Due to various reasons, bank loans have never been approved, and there will be disputes over returning a house. In the specific implementation, many real estates are uniformly designated by developers to handle loans. Buyers try to indicate in the contract that "if loans cannot be handled, buyers can terminate the contract without being liable for breach of contract, and developers need to return the down payment".
How can we protect the interests of property buyers and avoid the liability for breach of contract caused by mortgage failure?
In order to avoid disputes caused by unsuccessful mortgage and protect the legitimate rights and interests of property buyers, it is suggested that property buyers start from the following three points to minimize risks:
First, before signing the purchase contract, buyers should consult the loan bank in detail while listening to the opinions of the developers, understand the conditions and requirements for loan approval, and have certain psychological expectations for their repayment ability and whether the loan can be approved.
Second, when signing the house purchase contract, the two parties clearly agreed on the buyer's right to terminate the contract when the mortgage fails, that is, it was stipulated in the contract that if the buyer could not get a loan because the bank refused to go through the mortgage formalities, the buyer had the right to terminate the house purchase contract and was not liable for breach of contract.
Third, the bank applies for a loan and signs a loan agreement with the property buyers, clearly stipulating the time for lending. However, if the property buyers fail to lend on time for various reasons, the property buyers have the right to ask the bank to hand over the house on time, and investigate their corresponding liabilities for breach of contract according to the loan agreement.
(The above answers were published on 20 16-07-29. Please refer to the actual situation for the current purchase policy. )
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