Is foreclosure reliable? How about foreclosure houses

The foreclosure house is the abbreviation of the property auctioned by the court, and the house that is forced to be auctioned by the court. When the debtor (owner) is unable to perform the mortgage contract or is unable to pay off the debt, the creditor applies to the court for enforcement through various judicial procedures, auctions the house in the debtor's name, and satisfies the claim with the auction proceeds. And the house that is auctioned in the process is the so-called foreclosure house.

Can be bought. 1. Forensic auction houses require full payment, and foreclosure houses are relatively cheap compared to ordinary commercial houses. Although on the surface, foreclosure houses are much cheaper, which reduces the pressure of buying a house.

However, generally only a down payment of 20% or 30% is required to buy a commercial house, and the rest can be paid off through a bank loan; Foreclosure houses are different, requiring a one-time payment in full, and there are also a few people who take out hundreds of thousands of dollars to buy a house at one time.

2. The real estate tax of foreclosure houses is relatively high, and the foreclosure houses are generally due to the rupture of the capital chain caused by the huge debts, and the real estate is recovered by the bank after bankruptcy and transferred to the court for auction. When buying a foreclosure house, in addition to the normal payment of the purchase price, the buyer also needs to pay other fees, including deed tax, value-added tax, etc., which add up to a large amount.

3. Buying a foreclosure house is not included in the after-sales serviceGenerally, when buying a commercial house, if there is any problem, you can also communicate with the developer. If there is a dispute or the legitimate rights and interests are infringed, they can protect their legitimate rights and interests through litigation and other means. However, buying a foreclosure house is different, the court is only responsible for selling the house, and the house is sold at all.

Even if there are some disputes after buying a house, the court is not actually responsible.

Franco-Chinese pats specialize in real estate transfers.

Auction is also one of the properties for sale in the market**. Like new and second-hand houses, it is an option that can be included in the purchase option;

2. The two advantages of the foreclosure house itself are respectively explored by those who just need it and investors. One is that most cities have no restrictions on purchases, which opens the door for potential buyers who want to buy a house but have not paid enough social security. Second, most of the foreclosure houses are 7% off the local house price, such as planning the tax plan and cost budget, the basic purchase ** will be lower than the second-hand housing price in the same period, and there will be clear water houses and other situations, therefore, the situation of investment leakage exists.

3. There are indeed judicial risks in some foreclosure houses, so there is no need to avoid this. However, as long as you do your homework, or choose a good platform organization, the risk can be avoided and controlled. Such an opportunity space where the advantages outweigh the disadvantages is a special product of this purchase restriction period, and it is not available at all times.

Guide to avoiding pits: 1. Look at the market on the spot.

Don't take it for granted that the information in the online court announcement is completely correct, and the specific housing information and the details of the surrounding environment are still subject to sight.

2. Confirm the situation in the house.

Inquire about the strata fees and utility bills owed by the property in advance. Be sure to check on the spot to see if the house has been vacated. In some judicial auction houses, the landlord will sign that he has promised to move out within three months after the auction is completed.

It must be noted that after the house is photographed, the court cannot guarantee the time when the owner will move out.

In addition, there is a provision in law that "if the ownership of the leased property changes during the lease period, it will not affect the validity of the lease contract", which means that as a buyer, you must continue to perform the obligations of the lease contract to the tenants of the previous owner. In order to avoid troubles in the handover in the future, it is recommended not to touch this type of room.

3. Loan confirmation.

If you're going to take a mortgage, be sure to ask if this ** offers a loan. Once it is confirmed, you can consult the banks that can provide loans mentioned in the court notice one by one.

4. Calculate taxes and fees.

Before conducting an online auction, the tax must be calculated. Although there is no commission charged for online auctions, the tax payable by the buyer and seller is borne in full by the transferee.

In addition, a normal auction of a house with intact title is generally no problem and does not require additional fees. If some of the property certificates are not complete, you need to keep an eye on whether you need to pay additional fees.

There are generally many unreliable foreclosure houses, the first of which may not be particularly complete, and the second is that he is afraid that he will have that litigation dispute.

It's best to take a look at the target first.

The house auctioned by the court is still more reliable, and the price is lower than the market, but pay attention to whether there are other costs.

**Cheap is good, but cheap at the same time there are various flaws, taxes, risks and other issues, it is not recommended to shoot personally. The whole process of foreclosure from finding a house, preliminary due diligence, risk aversion, loan and transfer process is complicated and troublesome.

The court auctions the property for the ultimate purpose of realising it, and the proceeds of the auction must be used to pay back to creditors or be used for other purposes. The house auctioned by the court generally has defects, and at the time of the auction, the buyer is required to pay the full amount, and the payment time limit is very tight.

There are three main risks associated with foreclosures

1. It is easy to photograph, but it is difficult to vacate the house, and it is difficult to collect the house.

If there are multiple mortgages on the house, there may be other creditors who will often come to harass you. If there are still elderly people living there, and it is the only rental house for the elderly, it is not easy to vacate the house and accept the house.

2. There may be high taxes and fees for foreclosure houses.

The tax on the purchase of foreclosure is actually similar to that of second-hand housing, mainly individual income tax and deed tax, but if it is a property in the name of the company, there will be a high amount of land value-added tax. If there is a house where there is a transfer of ownership by relatives, there is also a high personal income tax. If the house is less than two years old, there is also VAT.

3. There may be a high amount of arrears in foreclosure houses.

Some people on the Internet bought a set of auction houses, and when they received the house, they found that they owed more than 100,000 yuan in water, electricity and air conditioning fees for the property. Because the auction announcement had already been written, the arrears had to be borne by the buyer, so they had to pay out of their own pockets.

01. Buyers who fail to pay the balance within the time specified by the court generally need to pay the full amount to the account designated by the court within the time specified by the court (7-15 days) after the successful bidding. Many people just don't understand the balance deadline and miss it, resulting in regrets. At this time, the court will forfeit the security deposit that has been paid.

02. There are many cases where there are problems in loan approval because the lender fails to meet the bank loan approval conditions due to credit investigation and high debt, and there is also a long bank loan cycle, etc., resulting in the inability to raise the auction money within the time required by the court, and the auction shall not be regretted. Usually at this time, you can find the relevant guarantee company to apply for a guarantee letter for the final payment, and the guarantee company guarantees the borrower who buys the foreclosure house, and gives the other warrants to the bank within six months after the bank disburses the money to the court account, and the loan can be disbursed within the specified time.

03. Many buyers are ready to move into the house after the successful auction, only to find that there is a lease in the house, and the lease may be very long, and no matter how serious there is a malicious lease, follow the principle of buying and selling without breaking the lease, and the difficulty of vacating leads to regret the auction. 04. The transaction price exceeds expectationsDuring the auction process, some bidders will bid too high due to excitement or excessive price increase due to operational errors, resulting in the transaction price being too high, and they have to regret the auction. In addition to the confiscation of the deposit, the regret may also bear serious consequences such as the loss of the next auction.

It is recommended that friends who pay attention to foreclosure houses must do a good job of real estate investigation and capital plan before participating in the auction, and do not let themselves fall into the situation of regretting the auction. In addition, you can find the help of a professional photography agency to avoid risks.

The news of the premium of a foreclosure house has attracted a lot of attention. It also caused a discussion about whether the cost performance of foreclosure houses is high? In fact, the advantages and disadvantages of foreclosure are coexisting, including the following aspects.

The advantages of the first foreclosure house are often very cheap, in the impression of many people, the foreclosure house is very cheap, because the foreclosure house is enforced by the court, auction, so it is usually cheaper than the market, about 10% to 50%. This is also the reason why foreclosure houses have attracted widespread attention. There are many kinds of foreclosure houses.

Compared with the normal purchase of a house, the foreclosure house is very diverse, specifically, including residential, commercial, property, land, etc., there are a variety of buyers, who can choose according to their own needs, in addition, some foreclosure houses are new real estate buyers, with a higher degree of freedom in design and decoration, and they will feel better after moving in.

Second, the foreclosure house does not need to wait for the property right to obtain the property right, and it takes a long time to get the property right, but in contrast, the foreclosure house, which is usually much faster, the buyer only needs to complete the relevant procedures after the bidding auction is over, and quickly obtain the property right certificate, which makes many people have a soft spot for the legal opening house.

Third, there are certain risks associated with foreclosure houses. Foreclosure houses are subject to mandatory auction by relevant parties, so unlike normal buying and selling of houses, there are uncertainties in the property status, property rights, and liabilities of foreclosure houses, so it is necessary to do more research and evaluation before purchasing. For foreclosure houses, there are not many new houses, many foreclosure houses are a few years ago or even more than ten years ago, and due to its special nature, the interior of the house may have defects, which requires a lot of Lu Qin's time and energy to repair and renovate, so the cost will be higher.

The news of the premium of a friend's foreclosure house has attracted a lot of attention, and it has also caused a discussion about whether the foreclosure house is cost-effective. In practical terms, the advantages and disadvantages of foreclosure are coexisting. Specifically, it includes the following aspects: Advantages of foreclosure houses:

1.The ** of foreclosure houses is often very cheap: In many people's impressions, foreclosure houses are very cheap.

Because foreclosure is a court-enforced auction, it is usually around 10% to 50% cheaper than the market price. This is also the reason why foreclosure houses have attracted so much attention.

2.There are many kinds of foreclosure houses: compared with normal house purchases, the first class of foreclosure houses is very diverse.

Specifically, there are a variety of residential properties, commercial properties, land, etc., and you can choose according to your needs. In addition, some foreclosure homes are new developments, and buyers have more freedom in design and decoration, and they will feel better after moving in.

But in comparison, foreclosure is usually much faster. Buyers only need to place a bid, and after the auction has completed the relevant procedures, they can quickly obtain the title certificate. This state makes many people have a soft spot for foreclosure houses, although there are the above advantages, but there are also some disadvantages in foreclosure houses:

1.There are certain risks in foreclosure houses: foreclosure houses are enforced by relevant parties to auction, so unlike normal buying and selling houses, there are uncertainties in the housing status, title certificates, and liabilities of foreclosure houses, and there may be certain risks.

2.The cost of renovation and renovation of foreclosure houses is high: for foreclosure houses, there are not many new houses, many foreclosure houses are a few years ago or even more than ten years ago, and due to their special nature, the interior of the house may be sold or defective, which requires a lot of time and energy to repair and renovate, so the cost will be higher.

Therefore, foreclosure has both advantages and disadvantages, so if you want to buy a foreclosure house, you must do a good job of relevant research and analysis in advance, and make a decision after clarifying the relevant circumstances.