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Title : Here's the Fast and Right Way to Sell Houses That Are Still Mortgages
link : Here's the Fast and Right Way to Sell Houses That Are Still Mortgages
Here's the Fast and Right Way to Sell Houses That Are Still Mortgages
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Want to sell a new house in Depok that is still a mortgage? Can and is actually easy to do. Here are some tips.
There are several reasons why you want to sell a home that is still a mortgage:
- Want to buy a bigger house or move to a better location.
- Facing financial difficulties so that one way to reduce the burden of mortgage payments is to sell the house.
Houses purchased with mortgages actually already belong to you as a buyer as well as a borrower. So the house is your obligation. Because the purchase was made to borrow from a bank, a certificate of ownership (SHM) as proof of ownership of the house was held by the bank as collateral. If the bank does not fulfill its obligations, the bank has the right to confiscate and sell the house to pay the debt in arrears. So, if you want to sell the house, you as the owner and the borrower must sell it and then pay off the obligation to the bank. There are several ways you can do:
Pay off the mortgage
Because you have an obligation to the bank, you must first pay the remaining bills to the bank. Once paid, the bank will submit a certificate of ownership (SHM) which then the house can be sold to someone else. This process is called accelerated repayment. You pay off sooner than the expected time period. Because it is faster, there are penalties that must be paid by the borrower. Usually the penalty is calculated as a certain percentage of the remaining loan. This method is the easiest, although not the easiest financially because you have to have enough money to pay off the rest of the bill plus the penalty.
Selling a house
Another way is to sell the house to someone else. You have to find a buyer. Because the house was purchased with a mortgage loan where the certificate is still held by the bank, the buyer must be notified from the outset. After finding a buyer and an agreement on the selling price of a house in Depok, the process is:
• The buyer repays the mortgage obligation to the bank so that the settlement letter and certificate can be issued by the bank so that the legal status of the house is no longer a guarantee
• Buyers pay to you as a seller. Of the agreed sale and purchase price, the remainder of what has been paid to the bank will be handed over to the seller.
• After repayment to the bank and advance payment, the next process is the sale and purchase agreement in front of the notary by signing the deed of sale and purchase so that the change in ownership is legal.
In this process, the understanding of the prospective buyer is needed because the buyer will pay first, then several certificates can be issued by the bank. Not all buyers want to do this process. There may be concerns, for example, that the certificate does not come out even though it has been paid in full. To overcome this, it is necessary to use the services of a trusted notary, from the purchaser, to ensure the process is carried out correctly.
Over Credit Mortgages
This is the most common method. Prospective buyers buy over credit. There are two choices:
• Take over the mortgage to the same bank. The buyer continues the loan at the same bank.
• Move mortgages to other banks. The buyer continues the loan at a different bank.
The advantage of choosing a take over home loan with the same bank is that both the buyer and the seller do not have to worry about taking care of the home loan. Because the house documents that will be purchased are at the bank. Only need to complete the requirements that will be submitted by the bank. But if prospective buyers choose to use a different bank, the process of over credit will be more difficult. Because each bank has a different process. Usually, the deal process for delivering documents from a first-party bank and handing over the remaining mortgage payment from a second party is difficult. This over-credit process may fail if the bank refuses to submit the prospective buyer's housing loan. Therefore you must be prepared to face it. You also have to make sure that potential buyers pay a deposit to you first. This down payment is a "profit" you sell the house.
Home Reassessment
Appraisal or revaluation of a house is a process that needs to be done in buying and selling houses. The house is re-valued to determine its current value. The goal is: The basis for determining the appropriate buying and selling price between seller and buyer. If the sale takes over credit, the bank determines the mortgage value based on the appraisal results. So, in the process of selling mortgages, price determination selling a new house in Depok not based on the remaining loan at the bank loan, but based on the current home value.
That way, sales can be done with a fair enough value. Appraisal can be done by apparisal services. Look for an appraiser that has been certified by the Indonesian Professional Appraiser Society (MAPPI).
You can sell a home that is still a mortgage. Under certain conditions you may have to do it. Understand the process and explain to prospective buyers will certainly not be difficult. Hopefully the above review can provide the information you need and be a solution to the problems you face
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