What are the advantages of foreclosure? The ** of foreclosure house? What is the auction process? Like a auction room
Forensic Auction HouseRefers to a house that is subject to compulsory auction by the court. If the debtor is unable to repay the debt, the creditor will often apply for an auction of the debtor's real estate in order to protect its creditor's rights, and the auction proceeds will be repaid in priority. The property here is called a "foreclosure house".
Foreclosure has both obvious advantages and some disadvantages, and both aspects need to be considered by the buyer in a comprehensive mannerIn order to reduce the risk of buying foreclosure properties, we often consult with professional institutions.
The ** of foreclosure house?
Default on bank mortgages
85 of the foreclosure houses are generated because the buyers have cut off the monthly payment and cannot repay the bank loan, and the bank will apply to the court for enforcement in order to protect its own rights and interests, which is the largest foreclosure house.
Private lending
15 of the foreclosure houses came from private lending. There are two main cases:
The first situation is that the buyer borrowed money from someone else, and used the house as a mortgage at that time, and the mortgage was registered, and later the buyer could not repay the arrears, and the creditor could not directly transfer the house, so he could only apply to the court to seize the debtor's property to pay off the debt.
In the second case, if the buyer borrows money from someone else without any mortgage guarantee, and later the buyer does not pay back the money, the creditor will file a lawsuit with the court to auction off the property in his name for repayment, and the property is of course among them.
Unowned property
After the original owner dies and no one inherits it, the court determines that the house is ownerless, and it will be nationalized or collectively owned in accordance with the law and auctioned for cash, but in fact, there are relatively few such legal auction houses in life, which is really a bit of a pie in the sky.
Judicial confiscation, criminal cases of acquired real estate
For example, if you break the law and commit a crime, you must auction the property according to law.
Advantages of foreclosure houses.
Loan Advantages
China's real estate market demand remains high, but the state has begun to control the real estate market in recent years, so new real estate began to decrease, and there have been a large number of unfinished buildings, developers run away. In contrast, foreclosure houses are more insurable and have the advantage of a loan. At present, the loan policy of foreclosure houses has the following advantages:
The loan approval process is fast, and the loan approval can be completed within 3-5 working days;
The credit investigation is easy, and the buyer who buys the foreclosure house only needs to check the credit information once (the second-hand housing mortgage loan can be checked twice). Frequent credit investigation is not conducive to the buyer's handling of relevant financial business in the future, so this is a real benefit;
Some foreclosure houses can be made with a down payment of credit, and eventually it can reach 0 down payment. It is important to note that due to the fast auction process, which takes about 10 days from the day of bidding to the payment deadline, it is recommended that the buyer pre-approve the loan in advance if a loan is required.
The foreclosure property rights are clear。Many second-hand houses often have one house sold twice or even three times, which often leads to the damage to the rights and interests of the buyer, falling into a complex creditor-debtor relationship, and the foreclosure house will transfer ownership when the enforcement ruling made by the judicial auction is delivered to the buyer. After the auction of the house is concluded, the court receives the payment from the buyer and will issue: 1) a confirmation of the transaction; 2) the court's enforcement ruling; 3) Assistance in Enforcement Notice.
With the above documents, the buyer shall go to the local real estate transfer hall to handle the transfer and real estate certificate.
The basic supporting facilities are perfect
A foreclosure house is actually a second-hand house, but the form of the transaction is different, the second-hand house is a private transaction between the two parties, while the foreclosure house is a transaction through auction. In addition, the surrounding facilities have been placed in place, and after moving in, clothing, food, housing and transportation are very convenient, and educational, medical and commercial resources are often more abundant. The new real estate is still under development, the surrounding supporting facilities are not sound, we do not know what infrastructure will be in the future, rather than worrying about the future facilities, it is better to choose the real estate that has been built, and the supporting facilities are readily available.
The investment potential is huge
Many people in our country like to invest in real estate, from the perspective of investment returns, the starting price of a general auction is 7% off the appraisal price, if the first auction is not sold, there will be two auctions, the second auction will be auctioned at a starting price of 8% off, if the second auction is not auctioned out, then directly enter the sale procedure, the sale of the ** lower, and even up to five folds, for investors, this is not a proper low price to buy a house.
With so many advantages of the foreclosure house, are you excited? It is indeed a good choice to use foreclosure as a reference for buying a house. For novices who don't know much about foreclosure houses or buyers in need, you must find a professional auxiliary auction team to assess the risk of the house before participating in the auction, or you can consult us for free!
What is the auction process?
The first step is to determine the bidding target and contact our companySign the Bidding Security Agreement, try to bid at a low ** to succeed.
The second step is that the bidder is first supervised by the courtRegister an account on the judicial auction platform, after real-name authenticationPay a security deposit, the system will authorize and assign an auction number to the bidder.
Foreclosure managers are advised at the time of registration** to help speed up the process and prevent harassment**).
The third step, with the assistance of our company, the bidder confirms the bid amount on the subject matter details page, and the fourth step, for customers who need loans, our company sends someone to assist the buyer in pre-examination of bank qualifications, preparation of loan-related materials, etc.
Step 5: After paying off the auction price, our company will report the progress to the buyer in real time.
Step 6: After obtaining the real estate ownership certificate, our company vacates the house within the specified time, and the foreclosure manager delivers the house to the bidder.
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Over the years, it has been committed to the post-auction guarantee service of foreclosure houses, and is the country's first big data AI house selection platform, summarizing more than 360 city auctions and more than 300,000 auction data. It has a strong combination of field survey team, market team, risk control team, lawyer team, ownership team, vacant house team, and technical team to accurately grasp the difficulty of delivery risk and ensure the safety of the house and the timeliness of delivery time.
It is a national guarantee service company in the field of foreclosure houses, and its business scope has covered many cities such as Beijing foreclosure houses, Shanghai foreclosure houses, Shenzhen foreclosure houses, Guangzhou foreclosure houses, and Hebei foreclosure houses. The first-class foreclosure team assists clients (pre-auction, in-auction, post-auction), one-stop full-process service, and nine guarantee service systems, so that customers can buy foreclosure properties with confidence. The company has been intensively cultivating in the field of judicial auction business auxiliary services, serving thousands of foreclosure customers with outstanding investment strategies and efficient vacant experience, and has won the word-of-mouth spread of thousands of customers.