There may be several reasons for selling an apartment in a mortgage, but the main ones are the lack of financial ability to pay monthly mortgage payments, the desire to purchase a new, more spacious housing, an unscheduled move to another city, or the desire to make money on the rise in price. Is it possible to sell an apartment on a mortgage?
Instructions
Step 1
Repayment of the mortgage at the expense of the buyer. It is possible to agree with the buyer on a partial transfer of funds (the fact of transfer is certified by a notary) for the purpose of early repayment of the mortgage loan. After repayment, you withdraw your apartment from the security of the bank, after which you draw up a purchase and sale agreement, and the buyer pays extra for the apartment minus the previously deposited money.
This method of selling an apartment on a mortgage has some peculiarities. It is unprofitable for the bank for you to repay the loan ahead of schedule, so it can delay the process of withdrawing the apartment from the collateral. The buyer should understand this point of procrastination. Not many agree to this, as the transfer of funds before the signing of the purchase and sale agreement and registration for the new owner of the apartment is frightening.
Step 2
Obtaining a new loan. This method is not suitable for everyone, as it implies a high personal income or the total income of your family. But sometimes it happens that a person makes out a mortgage, being single, and in the future it is possible to issue a large loan for a spouse or next of kin.
The essence of this scheme is very simple. A new large loan is being issued, which will be enough to pay off the full debt on the mortgage loan. You get the money, pay off the mortgage and sell this apartment. Experience shows that interest losses can be recouped by a slight increase in the cost of housing upon sale, while you can absolutely legally withdraw an apartment from a bank mortgage and legally sell it. After that, the loan is repaid at the expense of the funds received from the sale.
There is only one drawback with this method of selling an apartment that is in a mortgage - it is not easy to take a second large cash loan. As a rule, it is even more difficult than taking out a mortgage, because cash loans are not given for such terms as a mortgage. Therefore, accordingly, the monthly payment will be large, and not everyone can afford it.
Step 3
Transfer of debt obligations. Some people, realizing that they cannot buy an apartment, are looking for an opportunity to buy a mortgage debt from those who at one time received an apartment on a mortgage, but want to sell it. Through the bank, you can transfer rights to another person at a reduced cost. The full transfer of debt will take place within 30 days. Minus - the loss of value, plus - the relative speed of obtaining funds for a mortgage apartment.
These are three ways to sell a mortgaged apartment. The main thing to remember is that your interest is higher than the buyer's interest, because it is much easier for him to buy an apartment without any problems with re-registration.
