Before engaging in this type of business, you must clearly understand all its pros and cons, otherwise you risk losing a large amount of money.
The main undeniable advantage of purchasing real estate through auctions is the low price of the property. Due to the fact that the property must be sold in a short time, its price is much lower than the real one. For example, a bank sells an apartment register with a mortgage.
The calculation is as follows
Part of the money from the sale of the property goes to cover the bank’s liabilities (the loan itself and interest), and the remaining part is transferr to the borrower. In this case, the bank is interest purely in its own interests. It is important for it that the funds from the sale are enough to fully close the loan, so it sets the price at the minimum bc data philippines level. This is a great chance to “snatch” housing 30-40% cheaper than it costs on the secondary market.
Often, property is sold disadvantages of buying only at the second or third auction, which forces the owner to ruce the price even further.
The second important advantage is the absolute
legality of real estate acquisition transactions. The entire bidding process is under the control of government agencies.
True, there are also disadvantages. These include: possible disagreement of the spouse to the sale or registration of minor children disadvantages of buying in the property; the impossibility of checking the property for its physical condition and the presence / absence of debts for utilities. But do not worry – in most cases, these disadvantages are easily resolv with the help of professional specialists who have experience in judicial auctions.
Who is eligible to participate in the auction?
Not everyone can take application that replaces card machines: how to receive payments via cell phone disadvantages of buying part in the auction, the reason is the ne to quickly pay for the property purchas at the auction. If you afb directory want to take part in this event, you must have the requir amount of money to purchase the property. There are no other restrictions.