Buying apartments from a bank - 180 tips from lawyers and lawyers

What is collateral property?

Collateral property is property that the bank took from the borrower to pay off the resulting mortgage debt. Let's consider the situation: you are purchasing an apartment with a mortgage. This property is pledged to the bank until you repay the entire loan amount. If you do not fulfill the borrower's obligations and make mortgage payments on time, you will be in arrears. The sale of the apartment will help the bank cover the losses it has incurred, so the property is put up for auction.

Risks

A mortgaged apartment is most often sold through auction. In this case, it is impossible to fully verify the property.

Therefore, despite the positive aspects, there are also a number of disadvantages:

Long processing time. Registration of ownership of collateral housing takes longer. This is due to the fact that the encumbrance must first be officially removed from the previous owner. Only after this can new documents be issued.
Refusal of the deal. If you take housing from a borrower, then document each payment and check the documents. This way you will protect yourself from fraud. Sometimes the seller can legally terminate the deal and still retain the deposit you paid for the home.
Bad condition. No one monitors such objects at the time of sale. At the same time, borrowers often continue to live in the apartment before purchasing a home and do not clean it up before moving out. Therefore, the new owner acquires living space in a deplorable condition.
Illegal redevelopment. It happens that borrowers carry out unauthorized work: demolishing partitions, combining rooms. However, changes are not recorded in official documents. To avoid a fine, you need to determine whether redevelopment has been carried out. To do this, study the technical plan of the apartments of this building or the selected type of housing. You can also contact the BTI for a plan for a specific property.
Debt for utility bills. According to the law, responsibility for depositing funds falls on the former owner, that is, the borrower. He must compensate the amount for utilities or these funds will be withheld from the sale price of the home.

Buying an apartment that is pledged is not difficult, but before making a transaction it is worth checking the property. Request the following documents from the bank:

Extract from the Unified State Register of Real Estate. It will reflect the full name of the current owner, and also record the presence of encumbrances. If the property is pledged, it is prohibited to carry out any manipulations with it without the consent of the bank. The presence of encumbrances is checked by the cadastral service.
Passport to the property. The document contains a detailed housing plan. This shows the exact area of the apartment and the inventory price. Information about the general condition of the house is recorded: date of construction, condition, communications, plan for major repairs, etc.
Extract from the house register. The document contains information about the persons registered in the apartment. If a mother and a minor child are registered in the housing area, then you need to request their discharge. It is impossible to cancel registration without the consent of the parent until the child reaches adulthood. The exception is cases when the family has its own housing, registered in the name of one of the spouses.
Certificate of absence of debt for utilities.

If the Buyer acts in one of the ways described above, then he does not bear any serious, uncontrollable risks of purchasing an apartment that is mortgaged (pledged) from the bank. But still, when preparing a deal, he should keep the following points in mind:

If the Buyer transfers a significant amount in the form of an advance/deposit to the Seller to repay his mortgage debt, then there is a risk that the Seller, after removing the encumbrance, will change his mind and refuse to sell the apartment. And repayment of the advance may take years.
If the Buyer is counting on a mortgage loan from his bank and makes an advance payment for the mortgaged apartment he likes, then his bank may not approve an apartment mortgaged to another bank. Then there is a risk of losing the advance payment.
The mortgage bank, for example, may give permission to sell a mortgaged apartment only if the Seller fulfills certain conditions. For example, a bank may require the mortgagor to pay 80% of the debt before the transaction. There is also a risk that the bank will generally refuse to sell the mortgaged apartment and re-register the mortgage to the new owner.
The bank may not refuse to sell a mortgaged apartment, but will not approve a loan to a specific Buyer.
The time frame for receiving a mortgage from the bank after repaying the mortgage and removing the encumbrance from Rosreestr may be delayed. Then there is a risk that the terms of the transaction may no longer be relevant for the Buyer.

But still, the main risk for the Buyer when buying an apartment for which the mortgage loan has not been paid is an attempt to transfer to the Seller too much money to pay off his mortgage debt. After all, such a transfer of money is not secured by anything other than the terms of the Advance Agreement or the Preliminary Sale and Purchase Agreement.

Of course, if the Seller pays off his mortgage with this money, breathes a sigh of relief and refuses to sell the apartment, then the Buyer will be able to sue for his money back. And he may even demand compensation for losses through the court. But it is unlikely that anyone will be satisfied with the deal being disrupted and a large loss of time on legal proceedings.

Therefore, in order to reduce your risk, the Buyer should, when purchasing a mortgaged apartment, act in one of the ways listed above.

And by the way, do not forget that if there are minor children among the owners of the apartment, then in addition to the bank we will also have to involve the Guardianship and Trusteeship Authorities. About the rights of children in housing transactions - read a separate note in the Glossary at the link.

https://www.youtube.com/watch{q}v=ytadvertiseru

Just in case, we remind the Buyer that before the transaction he should obtain an Extract from the Unified State Register of Real Estate (for example, on our website - here), and make sure that in the column “Restrictions and Encumbrances” it is indicated “mortgage”. And after the encumbrance is removed, accordingly, this column should be empty.

We suggest you read: How to properly check a bank account via the Internet?

From the same extract, the Buyer will learn the composition of all owners of the apartment, including minors (if there are any).

Speaking of buying mortgaged apartments. There is another way to purchase an apartment that is pledged to the bank and for which the mortgage loan has not been paid. This is an auction of mortgaged property. True, this is no longer a market transaction; the apartment seller no longer controls his property.

There are still questions{q} Vague doubts tormented{q} A lawyer can help you! You can order a consultation with a specialized real estate lawyer or complete transaction support HERE.

A detailed algorithm of actions when buying and selling an apartment is presented in the interactive map STEP-BY-STEP INSTRUCTIONS (will open in a pop-up window).

When can real estate be sold?

If the borrower carefully makes mortgage payments and does not allow any arrears to occur, he continues to use the collateral property (apartment). But sometimes, due to various circumstances, a person is unable to pay the mortgage. This leads to the fact that the debt grows, and the bank puts the collateral up for auction.

Sberbank apartments can be sold in the following cases:

if the borrower and the bank reach a mutual agreement. Sberbank can accommodate a buyer who wishes to purchase collateral and reissue a mortgage on it. To do this, the new borrower must submit documents to the bank to re-register the agreement in his name. Obligations under the mortgage are transferred to the buyer, and he must compensate the old borrower for the amount that he paid to the bank. This type of transaction will cost the client less, but will require more time and effort to complete the documents.
By the tribunal's decision. If the borrower seriously violates the terms of the loan agreement and refuses to cooperate with the bank, the latter is forced to go to court. Sberbank uses the sale of the debtor's real estate as a last resort, and is reluctant to do so. As a rule, they first try to resolve the problem peacefully, to find a compromise, and only if this does not produce results, the bank takes away the debtor’s apartment through the courts. When the court makes a decision to confiscate property, real estate from Sberbank can be sold at auction.

How is the sale of collateral real estate carried out?

If a client wants to purchase real estate sold through Sberbank, the sale can occur in several ways:

direct sale;
auction.

If you are planning to buy apartments from the bank through Sberbank, the official website where collateral real estate is sold will help you. At auction the property is sold as follows:

The Sberbank apartment is put up for auction, indicating its initial price. This is usually about 70-75% of the average cost of housing on the real estate market.
Those wishing to purchase collateral can offer a price, but it must be higher than the minimum value.
The auction participant who offers the highest price for the property becomes the buyer.
If no buyers have been found for the mortgaged apartment within 14 days, the price is reduced by 10-15%. This continues until a person appears who wants to purchase this object.
If your price for a property is higher than other bidders offered, you become the winning bidder. After this, all you have to do is pay the bank: you can pay in cash or draw up a mortgage agreement.

It is convenient to purchase collateral real estate from Sberbank, since the sale takes place through its subsidiary.

To participate in the auction, a potential buyer must go to the official website of this organization and register on the site where the auction is held, as well as obtain accreditation. To make the home buying process easier, you can create an electronic signature.

Having confirmed accreditation on the site, the client must top up his virtual account. It is necessary to deposit at least 2% of the price of the collateral property.

Pros and cons of transactions with collateral real estate

Selling mortgaged apartments has not only obvious advantages, but also some disadvantages. The advantages include:

lower cost. Due to the fact that the Bank strives to get rid of the collateral real estate as soon as possible, the sale takes place at a reduced price;
prompt execution of the purchase and sale transaction;
the opportunity to obtain a mortgage for the purchased property, which will allow both the bank and the buyer to save time;
a legally clear transaction: the bank guarantees the buyer that there are no registered third parties in the purchased apartment and there are no debts to pay for utilities;

The disadvantages of transactions with collateral are as follows:

it is difficult to find a buyer willing to buy such real estate - many are afraid to purchase an apartment that is pledged;
The purchase and sale procedure may take a long time. This is due to the need to prepare more documents: first you need to remove the previous encumbrance from the property, and only then register new rights to the apartment;
existence of risks for the buyer. It is necessary to document and record the fact of deposit of funds by the buyer, indicate the terms and procedure for payment. This will allow you to avoid the seller’s possible refusal of the transaction and other unpleasant surprises.

The purchase and sale of collateral is beneficial in its own way for all parties to the transaction. The bank will receive funds to cover costs, the seller will be able to pay off the mortgage debt and relieve himself of the burden of the loan, which turned out to be unbearable, and the buyer will purchase his own home at a relatively inexpensive price.

The bank always offers special conditions

Most banks offer standard lending conditions when a client first contacts them. However, in a situation where an apartment is sold with seriously overdue debt, the bank may offer a small discount. Its size may vary depending on each case of apartment sale, and it also depends on the client’s choice. He can pay for the apartment at a floating or fixed rate.

Other banks may offer to purchase a mortgaged apartment at a small percentage. Basically, the rate on a “special” loan will differ from the regular rate by 2%. However, the amount of the down payment may remain the same.

You need to understand that the maintenance of mortgaged apartments is not the direct responsibility of the bank. He has to spend additional funds on maintenance and paying taxes. That is why bank employees are ready to make deals with possible buyers. It is in their interests to get rid of problem real estate as soon as possible.

Is it profitable or unprofitable to buy bank real estate as collateral?

If you are counting on a purchase with a 50% discount from the market value, then I can disappoint you - such options usually do not end up on the open market, but go their own way. All that an ordinary buyer can deal with is a maximum of 10-15% (if you’re lucky).

But. As I always tell at seminars, if you managed to buy real estate below the market price, you are already in the black. If the market continues to decline further, you will simply get closer to the new level without losing money. If in the future the real estate market stabilizes or even increases minimally, you have already made money.

Conclusion : if you can find and buy real estate cheaper than the market, it will be profitable.

Dangerous or not dangerous?

Almost all of the collateral in banks is what they once approved for a mortgage. And there will be no outright fraudulent options here. Another question is that banks usually do not delve deeply into the history of real estate, leaving it to the conscience of the insurance company. What comes out of this can be seen from time to time in the media when an apartment is taken away from a buyer.

Moreover, the collateral real estate of banks is heterogeneous - these can be objects on the bank’s balance sheet, or they can also be those that are still owned by the borrowers.

Conclusion : you still need to check.

What might the risks be?

It is believed that purchasing collateral real estate from a bank carries less risk than the same purchase of housing from a private broker. Agreements of this kind are always accompanied by qualified legal assistance, so there is no doubt that the sale will be successful. However, before this, the previous buyer must obtain written permission to sell his apartment. If this document is not available, the court will be able to challenge the transaction.

The rest of the risks are no different from the problems that may arise when purchasing ordinary real estate. It is recommended to inspect the property you are purchasing beforehand. It is being studied for the quality of repairs, since all future costs may depend on this. In addition, you need to discuss all the terms of the purchase with the bank in advance so that this does not become a surprise in the future.

Where to look for collateral real estate?

This is where we come to the most important thing - our list of secret and semi-secret pages with collateral real estate.

Bank VTB24 . There are many apartments in Moscow and the Moscow region. Prices are almost everywhere market prices. But. Everywhere there is definitely an opportunity for bargaining, as we write below in the section “What to do next?” Special mortgage conditions for these properties - a rate of 12% in rubles.
Delta Credit Bank . List of objects in an Excel file. There are not many objects in the public domain, mainly in the regions. Special conditions for mortgages are also promised.
Sberbank . Very convenient property search. On the page, click the orange “Select property” button and enter the basic parameters - region, city, property type.
MTS bank . Two options - an Excel file with a description of the property and a description on the site itself. The website provides telephone numbers of the owners of the apartments for sale. Mainly the Moscow region and regions. There are new buildings.
Moskommertsbank . There are no preferential loans. Real estate in the Moscow region and regions.
Binbank . Mainly regional real estate. Sochi, Kazan, Saratov, Novosibirsk, etc.
Absolut Bank . PDF file. In Moscow, prices are clearly inflated. I think the same is true with the regions. To bargain. To bargain. And bargain again...
Bank of Moscow . In connection with the merger with VTB24, all collateral real estate was transferred there.
Raiffeisen Bank . There are many real estate options. There is a choice by region. Tab - collateral real estate.
Uniastrum Bank . The bank came under the wing of the Eastern Bank - there is no collateral.
Alfa Bank . There are few objects, and they are scattered across several regions.
Rosselkhozbank . We did a convenient search.
Rosevrobank . Now there are only 5 objects, some are interesting.
Gazprombank . The bank promises to reduce the mortgage interest rate for this property by 0.5%. The section has been removed from public access
Credit Bank of Moscow . There is some real estate here, but mostly Moscow and the region. Prices not specified.
MDM Bank . The bank has progressively created a section with collateral real estate on Avito :). Comfortable. They also opaquely hint at bargaining and preferential lending conditions for these particular objects.
Rosbank . Large selection of objects in all regions. There are also quite a few in Moscow and the region. Starting prices look good in some cases.
Khanty-Mansiysk Bank . The bank moved into the structure of Otkritie Bank.
Capital Bank . The bank closed.
Ural Bank for Reconstruction and Development . There is little residential real estate. For example, a plot in Sochi worth 795 thousand rubles.
Zenit Bank . Excel file with real estate in all regions. There are a lot of Moscow region, especially plots. They promise attractive conditions.
Sovcombank . There is little residential real estate. The central region, there is the Moscow region. They ask you to bargain and offer your prices :).
Sevastopol Maritime Bank . Sevastopol Bank, that’s why the real estate here is Crimean. If you were just thinking about buying an apartment in Crimea, here is an option. There are many photographs of the objects.
All-Russian Regional Development Bank . Only 3 properties left.
Bystrobank . They don’t list the property on the website; they suggest calling specialists right away and finding out.
Housing Finance Bank . There is a wide range of options - from Omsk to Moscow. There are attractive options.
Bank Uralsib . Sooo many different real estate. There is a choice by region. There are interesting options.
Bank "Saint-Petersburg . A considerable number of options. The bulk are St. Petersburg and the Leningrad region.
Baltinvestbank . The bank's collateral real estate is sold through a special office.
Bank Union . It is possible to select real estate by region. Most of all in Moscow.
Zapsibkombank . Most of all - Siberian real estate, in the Moscow region currently - 3 objects.
Bank opening . Objects are piled up, all regions are in one place, which is inconvenient. And there are few of them.
Fia bank . The bank is going through bankruptcy proceedings.
Ria bank . Real estate catalog in Excel file. There are few objects.
Bank North-Eastern Alliance . Various regions. Mostly land plots, and large ones at that.
SKB bank . Various regions of Russia. Various real estate. There are no facilities in Moscow.
NBD bank . Mainly real estate in Nizhny Novgorod and the region.
Globex Bank . PDF file with real estate in various regions. Moscow and the Moscow region are also present.
Banca Intesa . Real estate in different regions is different. There are photographs of objects.
Lipetskcombank . PDF file. Objects mixed up. Mainly commercial real estate.
Bank Trust . PDF and Excel files. Commercial and residential real estate in various regions.
Legion Bank . Excel files with various real estate in different regions.
Surgutneftegazbank . Mainly commercial real estate. Residential - only plots.
Moscow Industrial Bank . Absolutely different properties mixed together. There is no Moscow region. They promise favorable lending conditions.
Mosoblbank . PDF file with various properties. There are no prices in it. Favorable purchasing conditions are promised.
Akbars bank . Convenient database of collateral real estate, you can see photos. The Moscow region was not noticed. Preferential lending is offered - 1% lower than usual.
Communication bank . Real estate - 41 objects in various regions, ranging from apartments to plots. They promise preferential lending conditions for these objects.
Bank Russian Capital . Mainly Moscow and the region, there are no prices on the page, but they promise preferential conditions.
OTP bank . A lot of real estate. Mainly Moscow, St. Petersburg and Omsk.
Metallinvestbank . There is not much real estate, the regions are different. It is possible to view photographs.
Rosenergobank . Various real estate in early regions of Russia. There is a description and photographs.
The most “delicious” thing at the end is the website on which the property of all banks that are going through the bankruptcy procedure is sold.

How to buy an apartment secured by a bank

When making a responsible decision to purchase a mortgaged apartment, be sure to take into account the condition of the building, location and other technical parameters. Be sure to negotiate all the conditions with the bank and only then make the right decision.

Let's consider a situation where a bank sells a debtor's apartment due to failure to fulfill loan obligations. Everything is not as complicated as unscrupulous borrowers think. To begin with, the bank prepares documents and submits them to the court. A decision is made on the basis of which the bank is allowed to put the home up for sale. On the official websites of banks or other financial organizations, you can always see information about the objects being sold at auction. When purchasing an apartment as collateral from a bank, follow the standard requirements. Make sure that the collateral housing does not have:

Debt for utility bills
Registered citizens
Registration issues
Problems with documents

Basically, when selling mortgaged apartments by banks, there are no risks. But if you have any doubts regarding the purchase or questions related to the further preparation of legal documents, involve lawyers or experienced realtors.

What is important when purchasing mortgaged property from Sberbank

Indeed, most often the collateral is represented by an apartment purchased on credit or a mortgage. If there are compelling reasons for the alienation of the collateralized housing, the creditor bank and the debtor come to a mutual agreement on the need for a sale.

There are risks in purchasing an apartment secured by Sberbank, and the buyer is advised to pay attention to the following:

The purchase of an apartment pledged by Sberbank is possible with the written consent of the lender. The document is necessary to remove the encumbrance and register a new transaction;
banks “shift” the statements of registered residents to the contracting parties, trying not to participate in the process;
remember that forced discharge of minor children through the court is possible only with the permission of the guardianship and trusteeship authorities, so discuss this in advance;
the registration procedure is longer, since it requires the removal of encumbrances, and when buying on credit, checking the creditworthiness of the new borrower and obtaining Sberbank’s consent to lend to him.

The parties need to discuss the above points before transferring the deposit or making a down payment by the buyer.

Recommended article: How to calculate and apply for a Rosselkhozbank mortgage for maternity capital

What risks are also possible and how to write them down in the contract and what to check, read in another article: Sale and purchase agreement with a mortgage - important points for the seller and buyer

Mortgage apartments from banks in Moscow

Mortgage housing put up for sale by the owner always causes distrust among Muscovites. And after the proposed mortgaged apartment for sale, there may simply be no buyers. This unpleasant surprise entails big problems. The sale of a mortgaged apartment can also be forced. Based on an agreement between the borrower and the bank, the debtor transfers his home to the bank to repay the mortgage. In this case, he must definitely remove all relatives from registration and sign out himself. The bank monitors all the actions of the borrower, so there are practically no risks on the part of the buyer.

Very rarely, auction sales can be challenged and declared invalid. The bidding procedure of a bank or other credit institution in Moscow always complies with current legislation.

How to buy a mortgaged apartment from a bank?

In order to buy a mortgaged apartment, you must submit an application to participate in the auction. Registration on the site is carried out within 30 days, but no later than 24 hours before the start of the auction. The sooner a client is entered into the database, the more successful the auction will be, since there are quite a lot of people willing to purchase discounted real estate.

The procedure for purchasing collateral real estate from the bank:

make a deposit in the amount of 20 - 30 percent of the starting price of the object, issue an electronic signature, submit an application to participate in the auction;
if the bidder wins the auction, the balance of the mortgage loan will be required to be repaid;
after closing the mortgage, an application to remove the encumbrance from the collateral real estate is submitted to Rosreestr;
execution of a purchase and sale agreement for an apartment;
registration of the transaction in the Unified State Register;
After paying the remaining cost of housing, the client becomes the full owner of the property.

The financial institution undertakes to provide legal support for the transaction in accordance with the requirements of the legislation of the Russian Federation.

Purchasing housing on credit

In order to buy a mortgaged apartment on credit, you need to contact the financial company that organizes the auction. In most cases, banks have already prepared special loan offers with a reduced interest rate. The installment plan for this program ranges from 1 to 5 years.

Requirements for borrowers:

age from 25 to 65 years;
stable monthly earnings above the subsistence level;
availability of official employment;
positive credit history.

Agreement for the purchase and sale of a mortgaged apartment on credit from the bank - sample 2018

Is it possible to buy real estate from a debtor?

In order to purchase real estate from a debtor, you will need a certificate of the outstanding balance of the mortgage loan.

The procedure for purchasing collateral real estate from individuals. faces:

The parties need to draw up an agreement on the deposit. The amount of the advance is equal to the amount of the remaining debt;
Using the proceeds, the debtor repays the debt to the creditor;
Based on the written permission of the bank, the encumbrance in Rosreestr is removed;
Afterwards, the parties will need to draw up a basic real estate purchase and sale agreement;
As a result of the transaction, the buyer pays the remaining amount of money, and the seller re-registers ownership.

Until the property is under encumbrance status, the new owner will not be able to take ownership and dispose of the property (sell, rent or donate). The process of removing a collateral in Rosreestr takes about 3-5 working days.

List of required documents

In order to purchase collateral real estate, you will need the following documents:

certificate of ownership;
notarized purchase and sale agreement;
certificate of the amount of remaining debt;
certificate of family composition (issued at the passport office);
registration certificate for real estate;
certificate of absence of debt for housing and communal services;
identification of the parties;
application for registration of the transaction in the Unified State Register.

Selling a mortgaged apartment due to financial problems

During periods of crisis, it is not uncommon for borrowers to be unable to repay loans, resulting in late payments and contractual fines and penalties. In case of failure to fulfill obligations, the bank has the right to foreclose on the apartment that is pledged. This process is disadvantageous for the borrower, since he is left without real estate. Therefore, there is a reasonable solution - selling mortgaged apartments.

In this case, the borrower remains with the difference between the cost of housing and the loan debt, as well as a good relationship with the bank. Our agency has positive experience in agreeing with the bank on the cancellation of fines and even penalties, thanks to which the bank receives only the principal amount of the debt.

What issues need to be considered when selling foreclosed properties?

If you have to sell mortgaged apartments from banks, then you should consider two important points:

Not all buyers are ready to consider such apartments, considering them problematic. However, before accepting the property as collateral, the bank carefully checked it. Therefore, buying collateral housing does not carry any risks.
It is impossible to sell real estate that is pledged without taking into account the interests of the bank. If the potential buyer has the entire amount of funds, there will be no difficulties with the purchase. If you need a mortgage loan for a secured apartment, we will help you arrange it.

The most important issue for buyers, seller and bank is the moment at which the transfer of ownership and the removal of encumbrance are registered. We will help carry out the transaction if the seller and buyer submit a purchase and sale agreement for registration to the relevant government authorities with the removal of the collateral, or with the consent of the bank to retain the collateral, but with its subsequent removal when ownership passes to the new owner and the bank receives payment in the amount of mortgage debt.

In addition, the purchase of collateral real estate is associated with issues of payment schemes and fears that after the removal of the encumbrance from the apartment, the transfer of ownership will not be registered. In our company, the mechanism for conducting such transactions has been worked out to the smallest detail. It is best to purchase/sell collateralized apartments through a letter of credit or express safe deposit, and under conditions of access to funds, register the transfer of ownership rights to the buyer.

The advantages of purchasing collateral real estate include the following:

legal cleanliness of the apartment;
control of the bank when concluding a transaction;
opportunity to buy real estate at a favorable interest rate.

How to sell a mortgaged apartment correctly?

The scheme for selling collateralized real estate in St. Petersburg requires special attention, since, compared to a standard agreement for the purchase/sale of an apartment, in this case there is another party pursuing its own interests - the bank.

Having impressive experience, we use mutual settlement schemes that provide 100% safety for buyers, thanks to which they do not require a 20-30% discount on the price, as may be the case if risks arise. We guarantee that the seller of the collateralized property will receive the amount of the difference between the sale price and the debt on obligations after the ownership has transferred to the name of the buyer and the debt to the bank has been closed.

So, you can’t buy an apartment with collateral?

Can. And such transactions take place quite often. You can stipulate in the purchase and sale agreement that the money received from the buyer will be used to repay the loan. “Money in the morning – in the evening the encumbrance is removed and the buyer’s property rights are registered.”

In transactions with collateral real estate, it is better to contact experienced lawyers or realtors to get everything done correctly.

Will I have problems if the seller is late on loan payments?

The circumstances of selling an apartment with a mortgage may vary. Someone decided to change apartment due to the birth of children. Someone needs to move to another city, someone urgently needs a large sum of money. And some were unable or unwilling to continue paying their mortgage.

Whatever the reason for the sale, none of this will affect the buyer after the transaction. No obligations of the seller, including fines or penalties, can be transferred to him.

Real estate pledged to the bank

Advice from lawyers:

1. The property is pledged to the bank, and the owner has died, how can you buy this property?

1.1. Contact your heirs.

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Consultation on your issue

Calls from landlines and mobiles are free throughout Russia

2. We take out a mortgage secured by Real Estate with my husband. But in our marriage license there is a plot of land and two houses on it, equally divided. That is, one house is his, the other is mine. Can the bank issue us a mortgage against this Real Estate? Or only on the security of my house? (TK I’m taking out a mortgage) Is it possible to make sure that my husband’s house is also secured as collateral? TC if I take it only as collateral for my property, that is, a house and half a plot, the amount there won’t be what the bank needs. Thank you.

2.1. Of course you can, but only by agreement with the bank.

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2.2. Hello. By agreement with the bank.

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3. I have the following situation: I have a bank loan secured by real estate, can they take my apartment to pay off the debt, am I a group 2 disabled person?

3.1. Unfortunately, such an unpleasant outcome of the case is quite possible despite your disability and even the fact that the mortgaged apartment is your only home.

Did the answer help you?YesNo

3.2. Hello! Since the loan is encumbered with collateral, if the debt on the loan is not paid, the creditor has the right to file a claim to foreclose on the collateral. The presence of disability, minor children, only housing, etc., is not applicable in this case, because the property was pledged by you voluntarily.

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4. I have real estate as collateral under a loan agreement from a private person, can I take out a bank loan secured by this real estate to close the loan agreement?

4.1. You can with the written consent of the borrower.

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4.2. If the same object is already pledged to you, then Rosreestr, in accordance with the Law on State Registration of Real Estate No. 218-FZ, has already made an entry in the Unified State Register of Encumbrances. It is unlikely that the bank will “go” to double encumbrance of the same object. Although a subsequent pledge is allowed, the pledgor is obliged to inform each subsequent pledgee of information about all existing pledges of property (Article 342 of the Civil Code of the Russian Federation).

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5. I’m paying off a loan I took out for 5 years secured by real estate. Now I’m having a hard time with money, another bank is taking 50% of my pension. And I won’t be able to pay the loan for 2 months. The collector calls and scares me. What is the next? From July I will be able to pay again. I have paid the bank without delay for 2.5 years, but they do not give credit holidays.

5.1. They will recover the amount in court and foreclose on the property.

Did the answer help you?YesNo

6. I have the following question. I took out a loan from Camry Bank without collateral, can they take away my property? I'm in arrears.?

6.1. Hello! If this is your only home, then it is covered by the immunity of Article 446 of the Code of Civil Procedure of the Russian Federation, which does not allow foreclosure on your only home. Of course, unless you live in a castle of 1,000 square meters. But in any case, this issue will be resolved in court, and you will need to declare that your property is your only home.

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6.2. Good afternoon. No they can't. Collection will be made by the bailiff after the trial. But as your only home, they cannot take away the amount of debt repayment if it was not collateral.

Did the answer help you?YesNo

7. I have real estate in Crimea with Ukrainian documents, how can I re-register it with Russian documents if the real estate is pledged to a Ukrainian bank?

7.1. Good day! The presence of a pledge prohibits alienation. But you can re-register the documents by submitting documents to the MFC (or to Rosreestr, where you can also get advice on the spot) and then make changes to the collateral agreement with the bank by sending a copy to them with an accompanying copy of the changes)

Did the answer help you?YesNo

8. I have 3 outstanding loans, a very large amount is spent per month to repay them. How can you increase the loan term and thereby reduce monthly payments? Is it possible to take out a loan secured by real estate from another bank for the required amount, close off old loans and pay off a new one, but for a longer term and a lower fee?

8.1. If there are no overdue loans, then you need to contact the bank, preferably Sberbank, with an application for refinancing.

Did the answer help you?YesNo

9. In the purchase and sale agreement for an apartment (under a mortgage), will it be correctly stated (wording): “The apartment will be pledged to the Bank from the moment of state registration of the mortgage in the Unified State Register of Real Estate until full repayment of the loan funds.”

9.1. Good afternoon, yes, everything is correct, such wording is allowed. A mortgage is an encumbrance that is subject to registration through Rosreestr.

Did the answer help you?YesNo

10. The apartment is pledged to the bank. The only housing. Registered as a minor. The money was taken as collateral from real estate. There were delays. There is insurance. There is also maternity capital, which the bank refuses to accept. Does the bank have the right to unilaterally make such decisions? They write SMS with threats to vacate the apartment. I took 3.5 million. As collateral for an apartment with a market value of 6.5 million, 35 kopecks were paid. (There are 3 more loans that I pay off) maternity capital is 402 tr.

10.1. Hello, Natalya, Suggest that the bank go to court. SMS-comi does not resolve such important issues. You, for your part, make a written proposal to the bank to repay the loan.

Did the answer help you?YesNo

11. My husband and I had a disagreement and we separated; we have a 2-year-old child. General mortgage (non-targeted loan secured by real estate). The borrower's husband took money for my needs, I provided my property. How can we sell the apartment and close the loan? The bank advised through divorce, and a lawyer I knew, on the contrary, together. In other words, we need to get rid of this apartment, close the loan and disperse peacefully.

11.1. Good afternoon, it is up to you to decide what is best: through divorce and division of jointly acquired property (if there is no dispute on this issue, you can enter into an agreement with a notary) or jointly. Personally, I think that working together will be faster and cheaper. But in any case, you need the bank's consent.

Did the answer help you?YesNo

11.2. You can sell with the bank’s consent, but the bank most likely will not give such consent. The situation is complicated.

Did the answer help you?YesNo

11.3. In your case, the bank’s consent to sell the collateral will be decisive.

Did the answer help you?YesNo

12. My friends took out a loan secured by real estate for 1.5 million. This is how it works at our house. But there is no money to pay the loan. They want them to take the apartment, but the bank is in no hurry. How can they not need an apartment?

12.1. Let them contact the bank with a written statement that it is not possible to pay the loan and are ready to consider the option of transferring the collateral property into the ownership of the bank to fulfill obligations under the loan agreement.

Did the answer help you?YesNo

13. I want to refinance my loans or take out a new loan to pay off old ones at a lower interest rate, secured by real estate. When the apartment is pledged to the bank, can they collect money for credit card debts while the apartment is pledged (debts from my son, who is registered in the apartment with me, but he has no share) I am a mother and am the only owner of this apartment . I personally have no debts.

13.1. Taking out a loan secured by real estate, if this is your only home, is very dangerous, as you may be left with debts and without housing.

Did the answer help you?YesNo

13.2. Registration (registration) does not give ownership of a share in the apartment. The apartment cannot be seized for the son's debts.

Did the answer help you?YesNo

Consultation on your issue

Calls from landlines and mobiles are free throughout Russia

14. I have a question: can a bank take away an apartment if a loan of 500,000 rubles was taken out secured by real estate?

14.1. If you are overdue for more than 3 months and the debt is more than 5 percent of the market value of the apartment, then the bank will certainly foreclose and sell your apartment through the court.

Did the answer help you?YesNo

14.2. You yourself signed the document and may well lose your property.

Did the answer help you?YesNo

15. I bought an apartment with a mortgage 7 years ago. Pay for another 3 years. Recently I decided to look at the Unified State Register extract. And I discovered that: Type of restriction: Mortgage by force of law. The person in whose favor the restriction of rights and encumbrance on the property is established: Former owner. Question: is the apartment pledged not to the bank, but to the former owner? And if so, why?

15.1. Good evening. It is necessary to review the purchase and sale agreement. It must indicate in whose favor the encumbrance is established. Of course, registration errors cannot be ruled out. If you have any questions, write, I will try to answer you.

Did the answer help you?YesNo

16. I have a question: is it possible to get a loan from a bank as collateral for real estate purchased with maternity capital? What needs to be done? Thank you in advance.

16.1. No one will let you pawn your child’s share.

Did the answer help you?YesNo

17. I am the director and sole founder of an LLC; a bank loan was taken out for this LLC against a guarantee and commercial collateral. Real estate in shared ownership of three individuals. persons (including my 1/3 share). Part of the loan was repaid at the expense of the LLC, now the LLC is not conducting business, and I am paying the loan as a guarantor. How can I receive part of the funds from co-guarantors?

17.1. And why did you decide to get them from co-guarantors? How did you arrange the guarantee? One agreement with everyone or different ones?

Did the answer help you?YesNo

18. I have 5 consumer loans from Sberbank and one loan secured by real estate from Tinkoff Bank. Who can help me get my property out of collateral?

18.1. Hello Natalya You must assume that if someone tells you that in such a situation they can withdraw real estate from the security of a bank, he is a fraudster or a director of this bank.

Did the answer help you?YesNo

19. We bought a car which, as it turns out, has been in collateral for a year now, and we have been suing for a year, and the aunt who pledged it, the property already put up for auction, easily covers the entire amount of debt to the bank, even without our car. I would like to know if she was in debt.

19.1. This information relates to personal and bank secrets, but it will be provided upon request of the court.

Did the answer help you?YesNo

20. Please tell me, do they now approve mortgages with a bad credit history? (There is mat capital). Everyone has different versions, some say no, some say yes, supposedly the bank will have the property as collateral, so they give it. Thank you in advance for your response!

20.1. There is a chance, because The apartment goes as collateral to the bank +% will be increased. But you need to talk to the bank manager in person. If you submit your application as usual, your application may be automatically rejected.

Did the answer help you?YesNo

I filed for personal bankruptcy, and my wife has a loan secured by real estate in the same bank as me.

I filed for bankruptcy as an individual, and my wife has a loan secured by real estate in the same bank where I have it, the real estate is registered in my name.

I own part of a residential building (residential purpose), specifically allocated premises on a land plot with the type of permitted use of individual housing construction with a total area of 7,

I have my own commercial real estate and want to take out a secured loan.

Are any transactions (donation, purchase or sale) possible with real estate that is pledged to the bank?

We have been married for 10 years. My husband took out loans from the bank without my knowledge. Lost...

I have a room in a 2-room communal apartment, it is pre-marital, now a neighbor has offered to buy his room.

I would like to know if it is possible to get a loan from a bank secured by real estate if I have a bad credit history and there is no way to officially confirm my income.

I have a share in real estate. 1/3 of the house. Divided through the court after divorcing her husband.

The purchase and sale agreement from the bankruptcy real estate auction was signed on the date of the 14th.

Already 3 months. how the bank loan was completely closed and the property was removed as collateral,

Early loan repayment

This option is both the simplest and the most complex. The algorithm of actions in this situation is as follows:

The borrower pays off the balance of the loan in full;
The encumbrance on the apartment is removed;
The owner puts the apartment up for sale.

The difficulty here is that not everyone has the opportunity to pay off the mortgage prematurely and withdraw the apartment from the bank as collateral. If you have additional sources of income that allow you to pay off your debt much faster than the deadline, that's great! By the way, do not forget that you need to notify the bank a month in advance of your intention to repay early.

The second option of early repayment is less common, as it carries some risks for the buyer, but it also has a place. The seller receives from the buyer an amount of money equivalent to the remaining debt, closes the loan, removes the encumbrance and receives the remaining amount.

Basic moments

If the borrower does not pay the mortgage loan, the bank looks for a solution to the problem. Through the court, a financial institution can force the eviction of the borrower and the sale of the property. In this case, its value will be lower than the market value.

Important! Selling a home is a last resort that bankers take. The sale of real estate occurs if there is absolutely no chance of repaying the loan. The proceeds from such a sale are used to pay off the mortgage loan.

The problem for the buyer is that most of the funds will have to be paid before ownership transfers.

Sale of an apartment by a borrower

The most standard and widespread scheme for how to sell a mortgaged apartment. First of all, the seller must notify the bank with which he still has an existing mortgage loan of his decision. Let us immediately draw your attention to the fact that the bank, depending on the current situation, cannot always give a positive answer. However, practice shows that in most cases no problems arise.

It is important to consider the following nuances:

When drawing up a purchase and sale agreement, it is important to divide the amount received into two parts, one of which will be used to pay off the debt;
Each of the two parts is defined in the corresponding bank cells - for the bank and for the seller;
After the bank receives its share of the money, it transfers the documents necessary for the transaction to Rosreestr or the MFC, and also removes the encumbrance from the apartment and removes it from collateral.

Such transactions are absolutely safe and very common. Risks for both parties are reduced to an absolute minimum, and even if the deal falls through, the buyer will be able to return the funds. The key difficulty is finding a buyer willing to purchase an apartment that is secured by a bank. Therefore, if you need to sell real estate as quickly as possible, it is better to turn to professionals!

Categories of people who face the described need.

The bulk of clients who sell apartments mortgaged to the bank are investors.
According to some reports, more than 50 percent of the apartments sold belong to this category of people. They purchase housing when construction has just begun with the goal of resale after some time at a higher price. Even taking into account all the deductions, their yield is up to 35 percent. The second category is subjects who want to improve their living space. They sell mortgaged apartments with the aim of further exchanging housing of a larger area using borrowed funds.

The third group, the smallest, includes people who cannot fulfill their loan obligations and are forced to sell their housing.

The procedure for selling an apartment as collateral.

In order for the sale of apartments secured by a bank to take place, you must first contact the relevant bank and inform them that you have decided to sell it. All conditions for the sale of the mortgaged property are immediately stipulated. We should not forget to clarify whether the bank has protective commissions aimed at such cases. The bank considers the application for several days, sometimes a week. A realtor from a real estate agency with whom a person decides to cooperate will help you deal with all the documents.

If the subject has a bad credit history or this type of loan is prohibited from early repayment of the loan, the bank may refuse the right to sell real estate. It should not be forgotten that the debt must be paid on time, without committing any violations, otherwise various penalties (fines, penalties) will be applied, and they, in turn, must be paid in priority in relation to the amount of debt and interest .

The second stage is collecting documents. The required package includes characteristics of the residential premises, a technical passport, a certificate of registration at the place of residence, an extract from the Unified State Register, and title documents. In addition, you need to find out who exactly is the mortgage holder at the moment, and whether there has been a change of mortgage holder.

Upon successful completion of the first two stages, a buyer is searched. The main obstacle is that many people are afraid to buy apartments with a deposit. First of all, the psychological factor plays an important role here, so sometimes it is enough to explain the legality of the transaction. At this stage, the realtor of the real estate agency will help you find out the dynamics of the market, consumer preferences, and the exposure time of the same objects.

When making transactions of this nature, it would be best to sell the apartment as quickly as possible. To do this, it is better that the price is slightly lower than the market price. The faster the sale of the apartment occurs, the faster the burden of monthly payments will be lifted.

Methods of selling an apartment under collateral.

The first method is to simultaneously remove the pledge and carry out the registration procedure for a new agreement providing for the purchase and sale in the State Bank of Russia. To begin with, the buyer places the required amount in the borrower's cell at the bank, which must be paid to the bank. After which the bank removes the collateral and the contract is concluded. Of course, there is a certain amount of risk in this procedure. The buyer needs to avoid getting into a situation where money has been paid to the borrower for loan obligations, but the real estate has not become his property because the bank has decided not to remove the encumbrance. This situation may arise if the balance of the debt has not been transferred to his account.

Insurance in this case can be a preliminary agreement, the obligatory receipt of a receipt confirming receipt of the amount of money (when funds are credited to the current account). In the event that the balance of the seller’s funds was placed in the cell, a broker’s power of attorney is required to exclude the occurrence of emergency situations.

The second method is focused on the initial conclusion and registration of a purchase and sale agreement without the procedure for removing the encumbrance. In this case, the money is placed in two cells: the seller’s and the bank’s cell. After the bank receives its money, it gives permission and the apartment is removed from the collateral. After which you should contact the Office of the Federal Registration Service with a package of necessary documentation and remove the encumbrance.

The third method is focused on attracting funds from another bank. This scheme involves imposing a second encumbrance on the property after signing the purchase and sale agreement. The second creditor then transfers the money to the first, who removes the first encumbrance. However, it is worth considering the fact that this scheme is still poorly developed today and therefore few people use it.

After the transaction scheme becomes clear, the question arises as to whether the seller and buyer will be able to cope with the entire procedure themselves. As practice shows, such transactions are complex. The need to act through a realtor arises, first of all, from the buyer, who takes certain risks when purchasing such housing. If for some reason the bank is involved in the sale of an apartment, then you need to contact a real estate company that knows well what it means to sell apartments secured by a bank and has experience in resolving these situations.

Change of borrower

Another simple way to sell an apartment as collateral from the bank. It is relevant for those cases when the buyer does not have the opportunity to pay the entire amount at once. The buyer pays the seller the difference between the balance of the debt and the cost of the apartment and assumes the rights of the borrower while continuing to repay the debt to the financial institution.

Despite the fact that transactions involving a change of borrower are quite common, the bank may not agree to it. First of all, the lender will check the new borrower and, if he seems insolvent, then refusal cannot be avoided.

Another nuance is the possible refinancing of the rate for a new borrower. The conditions with the new interest rate may not always be favorable for the buyer of the apartment.

Search for a collateral apartment

Recently, home buyers have the opportunity to purchase real estate not only from a private owner or developer, but also from a bank - at a very attractive price. Mortgage real estate is sold at a reduced value, regardless of location and state of repair. However, those interested must remember that such an apartment is always under encumbrance. In order to lift the arrest, you will need to pay the cost of the property, and in some cases, pay off the debts of the previous owners. Despite the length of the procedure, purchasing collateral real estate is much more profitable than purchasing through intermediaries.

Mortgaged real estate is housing purchased with a mortgage and under the encumbrance of the bank.

The law provides several grounds on which an apartment can become collateral:

The apartment was purchased with a mortgage, but the former owner did not pay the debt on time;
By court decision, if the former owner has debts to third parties or the state.

If the owner of an apartment loses the ability to pay monthly debts to third parties, he is held accountable through legal proceedings. If the loan was issued by a bank, the property is put up for auction without a court decision. Using the proceeds, the creditor compensates for the lost amount, and the debtor, in turn, is released from liability.

It is best to start searching for a secured apartment by visiting the official websites of financial organizations involved in mortgage lending. On these resources you can find not only real estate pledged by the bank, but also apartments put up for auction by bailiffs. The client can also contact the bank directly and submit his application for consideration.

Often, credit institutions sell objects at an open or closed auction. The auction is considered successful if at least two buyers participate in it. The price of the mortgaged apartment, which is indicated on the Internet portal, is a starting price, and may increase during the auction process. If the auction does not take place, the bank will put the property up for sale again after 1 month. The price of such real estate is reduced by up to 30%.

How do electronic auctions of apartments work?

Trades and auctions of residential real estate are no different from the same auctions of any other non-residential commercial and industrial properties. The stages of bidding are the same and are regulated in our case by Law 127 Federal Law as amended in 2018. The first ones are carried out at the market price. Next, the second stage is to reduce the cost and offer the confiscated apartments below the market according to a pre-approved price reduction schedule. And the third stage is holding a public auction, where the cost is the lowest. You can enter the auction as our customer at any stage; do not forget to coordinate this step with our specialists. Purchase of confiscated apartments of mortgage debtors.

There are always enough residential properties in circulation that are put up for auction for non-payment of mortgages. Legally, such an apartment belongs to the bank, and it is not difficult to write out debtors in any number. In such a sale, first the debt to the bank is repaid from the received funds, the remaining part of the money goes to the debtor and his creditors according to shares. After the transfer of ownership, the encumbrance is removed. The whole procedure takes a month, or at most two. Next, the owner, at his own discretion, disposes of the purchased housing.

If the apartment is confiscated, but not mortgaged, investtorgi.ru specialists strongly recommend checking the cleanliness of the lot. In this case, there are a number of pitfalls that can significantly complicate the owner’s future life. Pay special attention to the registration of minors, dependent people, disabled people, etc.

Sources

https://www.vbr.ru/banki/sberbank-rossii/help/sberbank-nedvizhimost/
https://1Quality.ru/blog/50-sekretnyh-stranits-bankov-s-zalogovoy-nedvijimostiu
https://konfiskator.com/vse-konfiskovannye-i-zalogovye-kvartiry_gorod-federalnogo-znacheniya-moskva__kf
https://prodam-kuplyu-kvartiru.ru/articles/prodazha-kvartir/prodazha-zalogovyh-kvartir-ot-bankov-v-moskve-2/
https://piaspb.ru/forpartners/zalogovaya-nedvizhimost/
https://blog.DomClick.ru/post/kvartira-v-zaloge-u-banka-mozhno-li-ee-kupit
https://www.vincent-realty.ru/articles/mozhno-li-prodat-kvartiru-v-zaloge-i-chto-dlya-etogo-nuzhno/
https://capitalan.ru/services/srochniy-vikup/vikup-kvartir-iz-pod-zaloga/
https://InvestTorgi.ru/catalog/kvartiry_s_torgov_i_auktsionov/

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Pros and cons of buying a foreclosed apartment

The seizure of property occurs for the debts of the owner to one or another institution, upon the latter’s appeal to the courts. As for apartments, the debt most often arises for an outstanding mortgage loan to the bank. But there are other cases of debt. When arresting, a mandatory condition is that the apartment is pledged.

And when debts are systematically not paid, but only grow and grow, multiplying with interest, penalties and penalties, the creditor turns to the courts. And after the court decision, the bailiffs describe the debtor’s property, and then this property is seized for the purpose of further sale.

Buying a seized apartment is attractive because it has a fairly low price compared to the current market price, since the most important thing when selling is to pay off all debts, and not to profit from this operation. Many are tempted by the price, as well as the “transparency” of the history of the apartment if it is seized for mortgage debts. After all, before approving a mortgage loan, the bank carefully checked everything. But is everything really that smooth {q}

It is not possible to view the apartment before purchasing. This service is not provided by banks or other mortgage holders, much less bailiffs. You can be content with only the address, floor, number of meters and rooms. You have to evaluate an apartment only by external signs - you can look at the house (what material it is made of, what year it was built, etc.), the condition of the entrance, talk with the neighbors. But it’s impossible to see what the atmosphere is like inside, what kind of repairs there are, the condition of the sewage system, etc. On the other hand, most often, apartments are put up for auction for non-payment of mortgages, and mortgages in most cases are given for new buildings.
Trouble created by former residents who may not agree with the court's decision. And therefore they can knock on the threshold of this apartment, threaten, etc. Needless to say, the very aura in the apartment from which people were evicted (no matter for what reason) is not the most pleasant. The worst thing is that the debtor can appeal to higher authorities against the decision made by the court, and the result may be positive for him. This means there will be new trials.
Additional difficulties with apartment decoration. As a rule, the buyer will be responsible for removing the encumbrance from the acquired property. This means time, inconvenience, and additional costs.

The sale of property is carried out by the debtor himself, in agreement with the bank. In this case, the cost of the apartment will be no different from other real estate options - after all, you need to sell the apartment to the owner for the maximum possible amount in order to pay off the debts and have something left over. The debtor sells it at a reduced price only when deadlines are running out (and the bank gives only 3 months for the sale), or when the buyer does not agree, citing possible problems associated with the encumbrance of the property, which will still have to be removed.
The sale of the apartment is carried out by the bank through duly accredited real estate agencies. The banking institution itself does not have the right to sell property. The price of an apartment depends on the realtor, who can sell it at either a low or high price. Since the bank, in principle, does not care - it does not receive any profits, it is important for it to pay off all the debtor’s existing debts. The scheme of the transaction is as follows: the bank concludes an agreement with the debtor on the transfer of rights to the apartment, then it is sold, all debts are repaid, and the remainder is returned to the former owner of the apartment. The bank can sell the collateral to a new client who has applied for a mortgage and give him a reduced rate on this loan.
Open bidding. They are carried out in relation to an already seized apartment, by court decision. That is, when the bank applied to the courts to collect debts.

The sale of the seized apartment must be carried out at an open auction, where the buyer is chosen by the one who names the highest price. Such auctions are carried out only by a specialized institution; bailiffs do not organize such events. The sale of an apartment in this way must be carried out within 2 months, starting from the date of arrest.

The list of seized property can be found on the website of the Federal Bailiff Service, by region. The address of the specific object and some of its characteristics will be indicated there - square footage, number of rooms, floor, etc. Following the law, the bailiff department sets the initial price at which a specific apartment is sold.

Bidding will take place if more than 2 potential buyers participate in it and their offers include a premium to the original cost. Otherwise, the auction is declared invalid. They can be re-assigned, but with the starting price already reduced by 15%, which the mortgagee asks the court to do, which sets a new price. At the second auction there is just a chance to buy an apartment very cheaply.

Before entering the auction, you must first become a participant. Therefore, you will have to perform several actions - a suitable apartment is selected on the FSSP website (the size of its deposit is also indicated here), an agreement is concluded directly with the seller regarding the deposit, this deposit is paid. All losing bidders will receive their deposit back in full. But if the buyer wins the auction, but refuses to purchase it, then in this case he loses the deposit.

Application for participation in the prescribed form.
Confirmation of payment of the deposit for the apartment - payment documents with bank marks.
Identity documents.
A list of all documents, indicating the date and time of receipt of the application for participation in the auction.
An envelope containing the proposed sale amount - not lower than the starting price. The envelope must be properly sealed.

We invite you to familiarize yourself with: Sample agreement for donation of shares between relatives
After this, a special commission, on the appointed day of registration of bidders, checks all submitted documents. And the admission or non-admission of a specific applicant to the ongoing auction is carried out. Participation may be refused for several reasons - inconsistency or lack of any documents. All this is documented in a protocol. If the applicant is admitted to the auction, he becomes a participant.

The auction is scheduled for a specific day on which all registered participants must appear. The one who has the highest price for the apartment in the envelope receives the right to purchase it for this price. The deposit paid is, of course, taken into account.

On the same day, the winner and the organizer of the event sign a protocol on the results. This document replaces the contract and has all its rights.

But there is also a dangerous point in conducting auctions - in the future they may be declared invalid. In the event that some rules were violated and some procedures for their implementation were not followed. “Invalidity” is recognized only by a decision of the court, which considers the statement of claim filed by the person interested in it.