It would seem, not so long ago, a suitable apartment was chosen troublesome and with a degree of anxiety. They also carefully chose the bank to issue and calculate the mortgage on the most good conditions.
And so, a satisfied family settled in their own housing. However, some time passed, and now the apartment has ceased to arrange its inhabitants. Lack of area or vice versa, its excess, not the most successful location in relation to the place of work or study, the loss of income, which allowed to fully and timely pay money to the bank. These and many other circumstances force people to look for ways to solve the current situations. If the apartment was not a pledge in the bank, everything would be much easier. It would be possible to simply sell it or exchange it for a suitable living area. But what to do if the mortgage needs to pay a loan for many more years? It would seem that there are no special options.
However, the way out exists! It is incredibly difficult to sell the apartment that you received by mortgage, but this kind of precedents have already happened.
So how to sell an apartment if the loan is not yet repaid?
First you need the consent of the bank. It will be impossible to sell an apartment without it. This is explained quite simply. Collective property cannot be sold or exchanged without receiving the consent of the pledge holder. Usually, in such cases, the bank does not repair obstacles. However, you will have to find a buyer without outside help, as there is hardly a large number of people who want to get an apartment under a mortgage. Moreover, the point is not in price, but in paperwork, which will accompany the design of the apartment. This forces to reduce the price of the apartment.
The most important circumstance is that it is almost impossible to avoid relationships with the bank. The only way is to get a deposit from the buyer sufficient to repay the loan. Then the apartment goes to the seller in property and he becomes its owner. Now he can come with her as he likes, up to the conclusion of a transaction for the sale and sale.
The bank goes to meet those people who stably and timely make payments. They are given the opportunity to sell the apartment that is in the pledge. In this case, the person who will pay the mortgage will be checked for payment. This will take a certain time.