Buying collateral housing is quite simple. This can be a good investment. You can also save on the interest rate on a mortgage or credit. I recommend reading more about the purchase of collateral real estate on Roomia, here you can get information about the safe conduct of the transaction and all the nuances of the execution.
It is worth considering that the purchase of collateral real estate is a legally transparent operation, only on condition that the credit institution itself sells real estate. When purchasing any real estate, it is necessary to find out its «cleanliness». You need to find out if there is a burden in housing and whether it is in a credit institution. Otherwise, the buyer risks being left without real estate and without money.
Buying the hidden housing — do not wait for great benefit. If a client of a credit institution sells housing on his own, he is unlikely to reduce the price below the market. And the bank will not reduce the value of the mortgaged property. It is profitable to buy pledged property with a limited time from the debtor — then the price drops sharply. You can buy housing for a reduced price — provided that housing with burden and you need to solve many nuances. If the bank sells the laid real estate as a partial repayment of the debt, then the price may also be lower than the market.
Buying collateral real estate is beneficial, first of all, in a mortgage. Most often, banks reduce the percentage of payments. Specific numbers — the bank calculates individually. Such transactions are remarkable in that they have special reliability. The only negative is a limited choice of real estate. But unpleasant surprises when buying housing from the bank — no, and will not be.