2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
With the execution of some loans, borrowers provide the bank with property as collateral. This serves as a guarantee that the money will be returned in any case. Liquid property is real estate, securities, transport. Upon successful repayment of loans, the encumbrance is removed from the property. But if the money is not returned, then the bank can sell the property. The article describes the sale of collateral by Sberbank in the article.
About pledge
The collateral should be liquid property, which is transferred to the bank in case of insolvency of the client, violation of the terms of the contract and the payment schedule. A credit institution always uses its right to sell property, since it needs not only to repay the borrowed money, but also to make a profit.
The cost of collateral is less than the market value, which attracts buyers. This is due to the need to quickly make a profit. The interests of the borrower are not taken into account. In Sberbank, most of the property is presented in the form of real estate, since it is they who provide mortgages and other loans.
Procedure
Sberbank sells collateral property in two cases:
- based on court decision;
- by mutual decision of the lender and the borrower.
The institution does not immediately sell the property, but only after a violation of the terms of the contract and the absence of payments for more than 3 months. It should be noted that this measure is extreme. First, clients are offered debt restructuring. In case of complete insolvency, the bank goes to court. Things may not come to this if the client has agreed to the voluntary sale of collateral by Sberbank.
Nuances
The implementation procedure is carried out by mutual agreement between the debtor and the creditor or on the basis of a court decision, if there is no agreement between the parties. The borrower has the right not to wait for a court decision and to sell the property on his own, but with the permission of the bank. Since the pledge implies a ban on registration operations, then without the consent of the implementation will be impossible.
If the client is insolvent and at the same time cannot pay the restructuring debt, the bank goes to court. This is necessary to obtain permission to sell the property. Usually the creditor side is accepted by the court, and with the receipt of a court orderthe bank sells the collateral. The debtor has 2 or 3 months to voluntarily sell the property, which is much more profitable for him.
Debt coverage
If in a short time the borrower sold the collateral, for example, real estate, then first he must pay the debt to the creditor. It turns out that the client independently determines the price of the object, it can be equal to the market price, it is important that the proceeds be enough to fully repay the loan.
If the time is up, the sale of collateral by Sberbank is carried out independently. The task of the lender is to quickly return the borrowed money. To get the benefit faster, he reduces the price of housing or other property by 20-25% of the average market value. The proceeds may not be enough to pay the loan, so the borrower is left with part of the debt.
Auctions
Sale of collateral by Sberbank of Russia is carried out after a court decision. That's when it goes up for auction. How is it done? There are electronic platforms on the Internet that are called electronic auctions. The buyer of the pledge will be the user who offers the highest price.
Anyone can be a buyer, including the debtor himself. To do this, you need to register for electronic trading, the user needs an electronic signature. When the accreditation is confirmed, the user should replenish the account with an amount that must be at least 2% of the price of the purchased object.
Trading Features
Implementationcollateral property in Sberbank is carried out using an auction. The bank puts a pledge on the site and sets the initial price. It is usually equal to 70-75% of the market value of the collateral. Then users offer their prices, but not less than the minimum. The buyer will be the highest bidder.
If there was no buyer for 2 weeks, the price is reduced by 15%. This continues until a buyer is found. A loan or mortgage may be issued as collateral. Cash payment available. The collateral auction is carried out thanks to the automated trading system on the Sberbank AST website. She has been working for over 6 years.
On this site you can find many properties at a competitive cost, since the bank sets only the minimum price. The site is convenient, has a comfortable interface. The showcase has commercial and residential real estate. Therefore, the buyer can be an individual and a legal entity.
Pros and cons of buying
The sale of collateral by Sberbank in Moscow and other cities is carried out in the same way. Clients note the following benefits of buying a property:
- Sberbank employees carefully check the suitability of property for subsequent use, thus providing a guarantee of the quality of the objects being sold.
- The price of property is less than the cost of objects sold on the market.
- The bidding process is open and accessible.
- Save time with the electronic bidding system.
- Equal rights for bidders.
- Fair competition.
- Availability of trading for all.
- Possibility to set rates at any time.
The disadvantages include the likelihood of difficulties with paperwork and use if the bank did not conduct a thorough check of the object, or there was no notification of the borrower about the confiscation of property.
The sale of collateral by Sberbank in St. Petersburg and other cities has its own nuances. To avoid unpleasant situations, you need to find out from the sellers about all the details regarding the objects for sale. It is also necessary to check the legality of the sale, find out if the client has been notified, and whether there is relevant documentation. Only with a careful attitude to the transaction will it be possible to correctly complete the procedure.
Result
Thus, the sale of collateral and other property by Sberbank is carried out according to the standard procedure. Anyone can purchase an object, but only after registering on the site. This requires an electronic signature. You can find out about it on the State Services website. Also, registration will require documents, including TIN, passport and SNILS. Accreditation takes place approximately one week after user data verification.
The purchase of collateral is beneficial for the buyer. After all, he has the opportunity to become the owner of liquid property at a low price. For example, if you wantto buy an apartment through an auction, you need to choose the object that meets the requirements. Then you should offer the highest price. After that, it is possible to apply for a mortgage.
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