How to sell a house bought with a loan
In the current real estate market, many home buyers purchase properties through loans. However, due to changes in life or investment needs, many people need to sell their houses that are still paying off the mortgage. This article will analyze in detail the process, precautions and recent market hot spots of selling a loan house to help you successfully complete the transaction.
1. Basic process of loan house sale
| steps | Specific operations | Things to note |
|---|---|---|
| 1. Assess property value | Entrust a professional agency or conduct a valuation through an online platform | The difference between the remaining loan amount and the market price needs to be considered |
| 2. Settle the loan | Use the buyer's down payment or self-raised funds to repay the bank loan | It is necessary to make an appointment with the bank for repayment procedures in advance. |
| 3. Release of mortgage | Go to the Housing Authority to apply for a mortgage with the settlement certificate | Usually takes 3-5 working days |
| 4. Sign the sales contract | Negotiate terms with buyer and sign formal contract | It is recommended to go through formal intermediary or lawyer review |
| 5. Handle transfer of ownership | Both parties go to the real estate registration center to complete the transfer of property rights. | Complete documentation is required |
2. Recent hot spots in the real estate market (last 10 days)
| hot topics | Main content | impact analysis |
|---|---|---|
| Mortgage interest rates cut | First-time home loan interest rates dropped to below 3.8% in many banks | Stimulate demand for home purchases and may increase second-hand home transaction volume |
| Transfer promotion with deposit | 50 cities have implemented the new policy of "transfer with deposit" for second-hand houses | Simplify loan housing transaction process and reduce transaction costs |
| School district housing policy adjustments | Beijing and many other places implement the policy of "multi-school zoning" | House prices in traditional school districts fluctuate significantly |
| Real estate tax pilot | The Ministry of Finance said it would expand the scope of the pilot | Some investors speed up the disposal of their properties |
3. Things to note when selling a loan house
1.Early repayment liquidated damages: Some banks stipulate that early repayment of a loan before 3 years requires the payment of liquidated damages (usually 1-3 months' interest). You need to consult the bank's policy in advance.
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3.Tax calculation: The main taxes and fees involved in the sale of loaned houses include value-added tax (exempted for 2 years), personal income tax (exempted only for 5 years), etc. Fund planning needs to be done in advance.
4.Fund supervision: It is recommended to conduct transactions through a third-party fund supervision account to ensure the safety of funds for both buyers and sellers, especially when a large down payment is used for loan repayment.
4. Comparison of three common ways to sell loaned houses
| way | Operation process | Advantages and Disadvantages |
|---|---|---|
| traditional way | The seller raises funds to repay the loan → release → transaction | The process is clear but the financial pressure is high |
| Buyer's advance | Use the buyer’s down payment to repay the loan→release the mortgage→transaction | Save money but have higher risk |
| Transfer with security deposit | Handle transfer directly without loan repayment | The most convenient but requires local policy support |
5. Expert advice
1.Grasp the policy window period: The current mortgage interest rate is at a historical low, which is a good time to upgrade your home.
2.Reasonable pricing: Refer to recent cases of transactions with the same community, and moderately adjust psychological expectations considering the current market environment.
3.Professional consultation: It is recommended to entrust formal intermediaries to handle the matter, especially when new policies such as transfer with deposit are involved.
4.Fund planning: Selling a loan house may involve large amounts of capital transactions, so tax planning and capital arrangements must be made.
In short, although selling a mortgaged property is slightly more complicated than a fully paid home, as long as you understand the process and grasp the policies, you can complete the transaction smoothly. It is recommended that sellers choose an appropriate transaction method based on their own circumstances and consult professional legal and financial professionals when necessary.
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