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Main » Articles » Real Estate » Mortgage

What distinguishes an ordinary transaction of mortgage?

The inconvenience of mortgage deals are legendary, but is it really? From the perspective of Realtors, the seller process of implementing the apartment mortgage buyer is almost indistinguishable from an ordinary sale.

Ten Commandments for the recipient mortgage

The main difference - in the relationship `seller-realtor-buyer` there is an insurance company, which more closely examine the title and the mortgage bank. But the differences in settlement schemes available: for example, cash in the bank box has long been used in the market. In addition, necessarily produced an independent assessment of the apartment. `It is essential that appraisal company, accredited by the bank, gave its opinion on the value of the apartment today, - says head of mortgage transactions Fosborn` Home `Natalia Rossoshanskaya. - Based on this conclusion, the bank determines the final amount of the loan. Seller is in no way infringes on - of course, all costs borne by the buyer `. Check the title insurer is also the seller has no effect. As a rule, evaluate and make insurance simultaneously. Of course, if the owners are incapable, the apartment probably will not be approved for a mortgage, but such an obstacle complicates any sale. Self insurance seller is not concerned. First contract prior sale. It specifies the price and the payment of the deposit, the period for which is fixed price, prior intention to sell the home seller is that the buyer within a certain time. The final transaction is certified by the bank. Not all sellers agree to go to the capital for the signing and laying of money in the bank box. However, with the expansion of branch network of banks that happens less and less.

Paper and Time

According to realtors, one of the main concerns relates to the vendors that sell through mortgage require training a great number of additional documents. `For the mortgage transaction, some banks require two certificates: a neuropsychiatric and substance abuse clinics, - says the head of search real estate agent` 002 `Vladimir Mitryukov. - But to replace them with a real driver's license: after all, being registered in these institutions, it is impossible to get it `. So if you have the right, or what is also nice, hunting permit, the only additional document will be an extract from the Unified State Register of real estate rights and transactions (USREE). `Get it is not difficult, so to speak, that the additional paper greatly complicate the life of the seller, is hardly justified, - adds V. Mitryukov. - The rest need a standard package of documents `. These include proof of ownership, excerpts, purchase agreement, an extract from the house of the book, a copy of the financial and personal account information, etc. - the same as for any other transaction. `When the seller all the papers ready for the regular sales and excerpts valid at the time of making the advance preparation of the transaction is a maximum of three to five days' - says N. Rossoshanskaya. `If the bank and insurance company operating under the mortgage a long time and they have well-established mechanism to work with` `ipotechnikami, the terms of the transaction is not elongate, - explained V. Mitryukov. - And this is the task of estate agent - tell the seller, whether or not to deal with the buyer, who came from a particular bank `. In parallel, an estimate, the term of registration which is usually not more than three days. Buyers interested in the speedy conclusion of the transaction and are generally underpaid for urgency, so that the score is even faster. The main difference in terms of conventional and mortgage transactions - this is the time required for the registration of ownership and registration of mortgage on the bank. `In a typical transaction the seller and the buyer often use the bank box, but it happens that the buyer is willing to pay the money in full and immediately. Then can be signed sales contract, with transfers of money, and only then begin the registration, - says N. Rossoshanskaya. - When a mortgage is usually used either a letter of credit or bank cell. In the first case, the seller receives a certificate of a claim for transfer of funds. Bringing the bank copy of a document of ownership of the apartment, now owned by the purchaser, or any other document evidencing the performance of its obligations, he will get his money cashless transfer. Rent a cell is different in that after signing the sales contract is a lease deposit box and when the seller is laying means. When the seller will also receive a copy of the certificate of ownership, he can come to the bank, bring the right to a cell, get the keys and take the money `. The standard design of the property takes about a month. However, in this case, registered as a rule, speed, and receiving money is in two weeks.

Fiscal fears

Given how often the sellers want to see in the sales contracts underestimated the amount of the transaction, it is no surprise that many banks are going to meet them. `And the banks and borrowers to prevent unprofitable deals to buy an apartment with a fictitious value - says Vladimir Mitryukov. - Not to be left without customers (who, incidentally, has already been tested and received approval), many financial institutions are reviewing their attitude to this issue. For the buyer is important, not the amount that spelled out in the sales contract, but the one on which it is insured. In turn, the insurance company does not rely on the treaty, and the data independent appraiser `. According to realtors, sellers often fear that is reflected in the bank-reporting the actual cost of the flat tax will become available. `The treaty declared those amounts that are necessary to the seller - explains N. Rossoshanskaya. - Banks approach to business flexibility. Some underestimate the figure in the contract to the loan amount, someone - not even half of it. Suffice it and those who agree to disclose the value of less than 1 million rubles. In this case there is a procedure that ensures that the real price of real estate will not appear anywhere `.

Fee trouble

In the `dry 'balance mortgage sale gives the following inconveniences. First, this additional documents: the certificate from neuropsychiatric and substance abuse clinics (or driver's license), and excerpts. Secondly, three days of training. Two weeks of waiting for money also important, but to fully take them into account can not be - to send money through the bank box used with an ordinary transaction. However, these troubles are paid. `Since the capital market is desperately short of apartments, the market sellers' rights - says Vladimir Mitryukov. - They dictate their own terms and may prefer a buyer with surplus funds, not borrowed. That is why `ipotechniki` sometimes forced to offer higher prices than their competitors `free` `.

Category: Mortgage | Added by: Дмитрий (22.03.2010)
Views: 277 | Rating: 0.0/0

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