Foreclosure process: apply for early repayment and print the repayment list → do the notarization of foreclosure entrustment → the bank approves the loan → the bank issues a letter of commitment → the guarantee company issues a letter of guarantee → the bank issues a foreclosure loan to the guarantee company → the guarantee company repays the mortgage loan → obtains the original title certificate → cancels the mortgage;
Cash foreclosure process: apply for early repayment and print the repayment list → notarize the foreclosure entrustment → approve the loan by the bank → issue a letter of commitment by the bank → approve by the guarantee company → repay the foreclosure → obtain the original title certificate → cancel the mortgage. Remarks: Two notarial certificates are required for house redemption entrustment notarization, namely, 7 notarial certificates for house redemption and 5 notarial certificates for transfer.
Second, there are several ways to redeem the building.
1. Redeem the house in cash.
2. Redeem the building through the guarantee company.
3. Financing foreclosure through a finance company.
3. What is the business process of redemption?
Redemption refers to paying off the mortgage principal and interest of the seller's property, canceling the mortgage registration and redeeming the first-hand certificate. Redemption of first-hand vouchers and cancellation of mortgage registration shall be deemed as the completion of redemption. What do you know about foreclosure? The following is what I have compiled about foreclosure, I hope you like it!
In the process of second-hand housing transaction, the sales contract was signed, and after the deposit was paid, the next step was basically a problem, that is, foreclosure. At the time of the transaction, the house is still in a mortgage state, and there is a mortgage state with the bank mortgage. If you want to trade, you must first pay off the bank loan and lift the mortgage, commonly known as "foreclosure".
Business process of house foreclosure 1. Real estate buyers and sellers reach a deal and sign a sale agreement;
2. The property buyer chooses the loan bank, the seller applies to the original loan bank for early repayment of the loan to redeem the building, and the buyer applies to the bank for a second-hand house mortgage loan, and submits the information required by the bank to handle the fund supervision procedures;
3. If the bank intends to issue a second-hand mortgage loan to the buyer after preliminary examination, it shall issue a second-hand mortgage loan commitment letter;
4. The buyers and sellers of real estate apply to the financing guarantee company for mortgage loan guarantee, sign the guarantee documents and submit the required materials to the financing guarantee company;
5. After investigation and approval by the financing company, the buyers and sellers of real estate go to the notary office for full authorization notarization;
6. The seller or buyer of real estate shall pay the guarantee fee and handling fee to the financing guarantee company;
7. After the guarantee is approved, the financing company signs a guarantee contract with the bank;
8. With the approval of the bank, it was agreed to repay the loan in advance, and the financing guarantee company repaid the seller's original loan balance to the bank, and the foreclosure was successful;
9. The handling personnel of the financing guarantee company shall go through the formalities of foreclosure, licensing, cancellation of mortgage registration and transfer registration;
10. After issuing the certificate, the buyer shall go through the mortgage registration formalities with the bank;
1 1. After the mortgage registration is completed, the bank agrees to lend to the buyer; The guarantee liability of the financing guarantee company is lifted.
The risk of the buyer's redemption down payment is 1. If the seller has other debts that are paid off by the creditor, it may seal up or freeze the property as soon as it is redeemed. Often sellers will deliberately hide from third parties such as buyers or intermediaries, causing losses in many aspects.
2. After the buyer redeems the house for the seller, the legal property right still belongs to the seller before the transfer. If the seller "sells one room and two halls" at this time and sells the house to others, it is likely that the buyer will suffer losses.
3. If the seller finds that the property price has risen sharply recently after foreclosure, he may delay the transfer under various excuses, resell the house to a higher bidder, and then return it to the original buyer after receiving the money, causing greater losses to the buyer.
4. The buyer pays the seller the down payment or part of the house price for house redemption. If the seller misappropriates it, it will not be used to redeem the building, and there is no clear agreement on the time of performance. Even if it happens, the parties can only judge the repayment according to the loan. Because it is difficult to determine whether the owner really forecloses and sells the house, there is a question of the time limit for performance.
The business form of redemption is easy to understand, that is, the second-hand house buyer directly entrusts the guarantee company, and the guarantee company advances with its own funds, and the buyer pays back the money to the guarantee company within the time agreed in the contract. In other words, if cash payment is selected, the guarantee company needs real money to help the buyer pay in advance, so the service fee charged by the guarantee company is higher. In addition, there are many trading nodes: for example, the seller's previous loan in the bank should be settled in advance; Some banks require to apply one month in advance; Or it is necessary to impose penalty interest on the seller's advance payment, which may slow down the transaction time of the whole second-hand house and increase the cost of the transaction subject.
4. What is the business process of building redemption?
There are two kinds of foreclosure, one is called online foreclosure, and Bao company applies for foreclosure and signs Bao agreement; 2. The contracting company conducts investigation and review, and accepts business; 3. Carry out entrusted notarization to confirm the repayment amount and repayment bank; 4. Apply for repayment from the defaulting bank and redeem the real estate license; 5. Cancel the registration of mortgage payment to Asia, and assist the buyers and sellers to handle the registration of mortgage payment to Asia; 7. The seller pays back the money with the transaction price.