Flat in Jaipur: Sell a new property

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Sell ​​before; the end of his credit is possible?

You have a home with a loan but you do not want to keep your property? In another case, you want to seize an interesting opportunity that is available without your current home? Reselling without your repaying loan is a possible and more widespread operation. But this is not without constraints and other precautions to take. To know and master all subtleties, it's here!

Resell without acquiring another property

To fully repay your property once it has been sold, it is your notary who will transmit to your bank the balance of the loan. Be careful; even if the amount is correct, Flat in Jaipur  remember that the contract has signed with your bank include the payment of a prepayment, that is to say additional costs and to compensate for the interest that you will not pay later, compensation in his favor is planned.

In the case of a fixed rate loan, your bank will ask for a maximum of

Six months of interest, which may represent the 3% of outstanding principal? In the case of a variable rate loan, Flat in Ahmedabad these penalties are high and are mentioned in the contract that you have signed in advance.

Namely: If your loan was established before, the allowance can be avoided in three specific cases: if you sell your property in case of unemployment, death (or your spouse) or job transfer.

Sell ​​a new property

Even if you have not sold your old home beforehand, the most common solution is to take a bridging loan to deal with any cash flow problem because, unless you already have a promise to sell, the purpose of the transaction is uncertain. The principle of the bridge loan is to get your bank between 60 and 80% of the price offered for sale, with an interest rate of conventional credit. This "facility" usually extends over a period of one year, or even two years at most. Obviously, Free classified website in India post free ad without registration  once you have sold your old acquisition, you will be required to repay your bank.

Namely:  if banks never lend 100% of the value of the good, that is the simple reason that the lender assumes that sellers often resell cheaper than the price initially expected, with negotiations very often in place It also helps to limit your risk. On the other hand, with a promise of sale in good and due form and the exact price of the sale price, the financing of your credit 90% of the value of your property.