How to sell a house while still paying the mortgage? Comprehensive analysis of operating procedures and precautions
As volatility in the real estate market increases, many homeowners who are paying off their mortgages are beginning to consider selling. But "how to sell a house without paying off the mortgage" has become a problem that troubles many people. This article combines the hot real estate topic data from the entire Internet in the past 10 days to provide you with a structured analysis of the operation process, and attaches the latest market data for reference.
1. Data on real estate hot topics in the past 10 days
| Ranking | hot topics | Search volume (10,000) | Relevance |
|---|---|---|---|
| 1 | Mortgage interest rates cut | 285 | 89% |
| 2 | The wave of early loan repayments | 176 | 92% |
| 3 | Remortgage process | 142 | 85% |
| 4 | New policy on transfer with deposit | 118 | 95% |
| 5 | Second-hand house transaction taxes and fees | 97 | 78% |
2. Three main ways to sell a mortgaged house
| Way | Operation process | time required | cost ratio |
|---|---|---|---|
| Self-raised funds settlement | 1. Apply to the bank for early repayment 2. Handle mortgage cancellation 3. Normal transactions | 15-30 days | 1.2-2% of total house payment |
| Buyer's down payment | 1. Sign a regulatory agreement 2. Use the down payment to pay off the loan 3. Complete the transfer | 20-45 days | 0.8-1.5% of total house payment |
| New policy on transfer with deposit | 1. Inter-bank mortgage transfer 2. Complete transfer simultaneously 3. Settlement Difference | 7-15 days | 0.3-0.8% of total house payment |
3. Detailed explanation of the operation process (taking the most common buyer’s down payment advance as an example)
1.Assess property value: Determine the reasonable selling price through professional agency evaluation. It is recommended to consult more than 3 intermediaries at the same time.
2.Check loan balance: Apply to the lending bank to inquire about the remaining principal, and pay attention to confirm whether there is any early repayment penalty (usually 1-2% of the remaining principal).
3.Sign a sale and purchase agreement: Clarify key terms such as transaction price, payment method, liability for breach of contract, etc., and specifically stipulate that the down payment will be used first to repay the loan.
4.Fund supervision process: The buyer deposits the down payment into a third-party escrow account to repay the seller's loan, and the remaining balance is used as the down payment.
5.Mortgage cancellation and transfer: Complete the mortgage registration and cancellation within 7 working days after settling the loan, and handle the property transfer procedures simultaneously.
4. The latest policy points in 2023
| Policy name | Implementation time | core content |
|---|---|---|
| Transfer with security deposit | 2023.1.1 | Allows the direct transfer of outstanding loan properties, covering 100+ cities across the country |
| tax benefits | 2023.9.1 | The only cities where housing is exempt from VAT for two years have been expanded to 35 |
| Sales restrictions relaxed | 2023.3-December | 20 cities have canceled or shortened the sales restriction period, and the minimum holding period is 1 year. |
5. Three major risks that we must be wary of
1.Risk of fund disconnection: When the buyer’s down payment is insufficient to cover the loan balance, a supplementary plan must be negotiated in advance to avoid transaction interruption.
2.Risk of property rights disputes: When purchasing a house during the marriage, you must obtain a notarized document indicating that the spouse agrees to the sale to avoid subsequent litigation.
3.default cost risk: Comprehensive costs such as early repayment penalty + agency fee + tax may reach 3-5% of the total house price, and need to be accurately calculated.
6. Expert advice
1. Prioritize transactions in cities that have implemented the "transfer with deposit" policy, which can save 20-30 days of process time.
2. For properties with high loan balances, it is recommended to use professional guarantee agencies for fund supervision, with a rate of about 0.5%.
3. Pay attention to the differentiated policies of each city. For example, Shenzhen allows "transfer of provident fund loans with security" and Beijing pilots special services such as "inter-bank mortgage transfer".
According to the latest statistics, the average national mortgage housing transaction cycle in the third quarter of 2023 has shortened to 42 days from 58 days in the same period last year, and the policy optimization effect is significant. It is recommended that sellers choose the most suitable transaction method based on comprehensive factors such as their loan balance, local policies, and market conditions.
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