There are indeed many rules and policies for buying a house, so before buying a house, we really need to know clearly, because it is related to everyone's interests. However, what are the consequences of paying the down payment and not paying back the loan? Let's look at the consequences!
Mortgage application
It needs to be clearly informed that if the loan has been delayed, it will naturally affect the subsequent housing handover procedures, and this is a breach of contract, and you can claim that the other party will bear the responsibility for breach of contract. If the developer is dragging his feet on the loan, then you can ask the other party to return the down payment.
However, if the mortgage is not handled, the developer may deduct the liquidated damages. However, different situations have different regulations. When buying a house, this should be marked in the contract to avoid other problems later. I hope I can help you!
What happens if Xiamen pays the down payment and doesn't apply for a loan?
This is a breach of contract.
Under normal circumstances, delaying the loan after paying the down payment is a breach of contract, and you need to bear the liquidated damages and continue to perform the contract. At this time, buyers should urge the sales center, ask why, and then prepare the information needed for the loan, and submit it for approval by the bank. Of course, the object of the slow loan is the property buyers, and they should also bear the liability for breach of contract. If the circumstances are serious, the other party has the right.
Loans: Loans granted by banks or other credit institutions to borrowers must be repaid within a certain period of time and interest paid. Simple understanding is to borrow money with interest. Loan is a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must return them.
Can I check out if I don't want a house after paying the down payment and haven't applied for a loan? What is the procedure?
The down payment has been paid, which proves that the purchase contract has also been signed, indicating that the house has been sold. In this case, you cannot check out at will. General check-out needs to meet certain conditions:
1. The absolute error between the measured area and the area agreed in the contract exceeds 3%.
2. The developer's overdue delivery constitutes a fundamental breach of contract, that is, the overdue delivery reaches the check-out date agreed in the contract.
3. The developer changes the planning and design, which affects the structural type, apartment type, space size and orientation of the house.
4. The developer presales houses that have not obtained the pre-sale permit of commercial housing (except houses that have intentionally concealed the pre-sale permit).
5. The quality of the main structure of the house delivered by the developer is unqualified or the quality of the house seriously affects the normal use of the house.
6 can not or can not handle the transfer of property rights on schedule.
7. The buyer's loan application was not approved, and both parties to the contract could not reach an agreement on the payment method.
8. When other check-out conditions agreed in the contract appear.
If it's not for these eight reasons, just because you don't want to buy it, you can't check out.
Checkout procedure
Step 1: The buyer issues a check-out notice.
Buyers can make requests to developers by registered mail, fax or telephone. If the return of the house is caused by the developer's responsibility, the developer shall bear the losses caused by the return of the house, including loan interest, down payment deposit interest, house purchase tax, etc. If the house purchase contract stipulates the compensation standard for house return, it shall be handled according to the contract. If the compensation standard agreed in the contract is not enough to make up for the loss, it may claim compensation separately; If the buyer's loan application is not approved, the two parties to the contract cannot reach an agreement on the payment method, and the developer will not be liable for compensation.
Step 2: Complete all kinds of formalities within 15 days.
Within/0/5 days after the Buyer requests to cancel the house purchase, the developer shall return all the house payment paid by the Buyer, and be responsible for handling all the procedures for the cancellation or termination of the contract between the Buyer and the loan bank. Before the above procedures or documents are cancelled, the developer pays the monthly principal and interest to the loan bank on behalf of the buyer.
Step 3: The developer will refund the house payment.
The developer shall return all the purchase money to the buyer after the buyer sends out the return notice, and complete the repayment procedures of the provident fund management institution or the loan bank.