From the article, readers will learn what basic documents need to be collected to obtain a mortgage loan. It is also reported what additional papers and certificates may be required during registration different types mortgages: for maternity capital, for military personnel, for young families, etc.
Getting a mortgage loan is a big deal. financial transaction requiring careful preparation and availability of a package of documents. Requirements for them are regulated both by the legislation of the Russian Federation and by the internal banking law.
It should be taken into account that some certificates have a limited validity period, so they must be collected immediately before signing the contract.
List of main documents for a mortgage loan includes:
Some banks in their advertisements indicate that in order to obtain a mortgage loan you only need a passport and TIN (SNILS) but that's just a marketing ploy. In addition to these basic documents, other certificates will also be needed. For example, if a borrower takes a mortgage with collateral, then you will need documents confirming the right to own the collateral.
Depending on the type of mortgage loan, customers of a banking institution, in addition to the basic documents, will need additional ones. These can be various social programs, mortgages for privileged categories of the population.
The package of documents for primary and secondary housing also differs.
Maternity capital in the Russian Federation is issued after the birth of the second child and all subsequent children. In 2018, it is just over 400 and a half thousand rubles. This amount can be taken as a down payment on a mortgage loan. Only the owner of the certificate can receive credit funds. If the mortgage amount is more than 200 thousand rubles, then the guarantee of the second spouse is required.
In addition to the main package of documents, families wishing to take a mortgage under maternity capital provide a certificate and an extract from the PF on the balance of funds in his account. The Pension Fund must give permission for the use of maternity capital as a mortgage contribution. Additionally, the bank may request birth certificates of all children, as well as marriage / marriage contract.
The issuance of a mortgage loan without proof of income suggests that the borrower works informally or owns property that can be pledged. The client verbally announces his income, and in addition to the passport of a citizen of the Russian Federation, he must bring one of the following documents to the bank: a passport, a driver's or pension certificate, a military ID. You will also need papers confirming ownership of an apartment, cottage, vehicle, securities.
If the borrower works as a freelancer or sells any products through Internet portals, then bank employees may ask him to present statements on the receipt of funds to a bank account or card.
Individual entrepreneurs provide tax return. If a person is a client of a banking institution that issues a mortgage, then credit managers can independently check the movement of funds in his account.
To participate in the program for young families, one of the parents must be no more than 35 years old and no less than 21 years old. It is better that both spouses fit this criterion. A family must have one or more children. A single mother or father with children will also be considered a young family.
Young parents provide the bank with the following additional documents: certificates of marriage and birth (adoption) of all children, papers for collateral. You will also need certificates confirming the fact that the family has money for a down payment (for example, Sberbank offers to pay at least 15-20% of the mortgage amount). This may be an extract from bank account, a certificate for maternity capital, etc. If relatives of a young couple act as guarantors, then documents indicating kinship are required.
To qualify for the Military Mortgage program, a soldier must first submit a report on the desire to join it. He brings the received certificate of participation to the bank along with the main package of documents. The wife of a military member must give her consent in advance to participate in the program.
Employees of a banking institution can additionally request information about education, the availability of apartments, cars, land plots, additional income. The serviceman also gives written consent to the processing of his data. Difficulties in this regard may arise for employees of the secret services. The military, serving under the contract, bring a certified copy of it.
Some banks issue preferential terms mortgage loans doctors, teachers, scientists. Absolutely all representatives of these professions do not fall under these criteria. Their list can be clarified with managers financial institutions. If the borrower meets all the criteria, then he additionally brings to the bank:
This is the maximum list of additional documents for preferential categories, it may differ in different banking institutions. Also, at reduced interest rates, mortgage loans can be issued to employees of the Ministry of Internal Affairs, lawyers, notaries.
They bring documents (certificates, certificates) confirming their belonging to the profession.
Regardless of the program under which the buyer takes a mortgage (military, under maternity capital, etc.), the list of documents for buying secondary housing is the same for everyone. When concluding a transaction, you should pay attention to the presence in the family of the seller of minor children or people with disabilities who are registered in the apartment. Without the permission of the Board of Trustees, the transaction cannot be completed until the indicated persons register at a different address.
The first step is to check whether the seller has documents confirming the ownership of housing. Next, you need to carefully study the documents on the basis of which the seller became the owner (donation agreement, sale and purchase agreement, inheritance). All dates, numbers, passport details must match. You need to pay attention to the mental and physical health of the seller. If a person is elderly or shows signs of inappropriate behavior, then it is advisable to require a certificate of his legal capacity. If there are several owners of real estate, then the documents of all must be checked, and when concluding a transaction, they must all be present in person, or one of them may act by proxy.
An extract from the house register or a certificate of residents registered in the apartment or house is required. Before the conclusion of the transaction, they must all be deregistered at this address.
The certificate must indicate the grounds for the discharge.
A mandatory document is a certificate (copy of the personal account) on the absence of debts for utility bills, or their presence, if the buyer agrees to purchase an apartment with debts.
The seller is obliged to provide certificates from the BTI with a plan of the house or apartment, which includes an assessment of the property. Here it is important to pay attention to the absence of illegal redevelopment. If there is no technical passport, then BTI is also engaged in its manufacture. Technical certificate included in the list binding documents. Also market valuation real estate value should be carried out by an independent expert. A list of organizations that provide such a service can be found in a banking institution, since the bank does not trust all companies.
Still needed cadastral passport, which determines the percentage of depreciation of the housing stock. The bank may refuse to issue a mortgage on an apartment, the depreciation of which will exceed 60% at the time of full repayment of the loan. If purchased a private house, then the household plot must be issued cadastral number. When selling, an extract with a cadastral number is required.
Mandatory is a certificate from the USRR that the seller's property has not been seized, and it is not pledged. This aspect should be tried to check on all channels. There were cases when the seller provided a fake certificate.
The last important document is the consent of the second spouse to sell the house or apartment, if the house was purchased after the marriage. If the seller is not married, then he must take a certificate of this or bring a copy of the divorce certificate.
Sometimes additional documents are required that are not listed in this section.
You can find out in advance about all the nuances from the notary who will conduct the transaction, and at the bank.
The acquisition of housing under construction requires a much smaller set of documents than a secondary one. This is due to the fact that the building has no wear and tear, no one can be registered in the apartment, illegal redevelopment is impossible, etc. It is best to take apartments on a mortgage from developers who cooperate with the chosen financial institution. In many banks, credit managers themselves will offer options for buying apartments in new buildings. By choosing one of them, you can avoid red tape with the developer's documents.
If the borrower found the developer on his own, then he brings such documents:
This article considers the features of confirming the down payment when applying for a loan for the purchase of real estate, both in a new building and in the secondary market. It lists the necessary documents, describes in detail the procedure for processing documents.
When buying a home with a mortgage, sometimes banks do not check the availability of funds from the buyer for the down payment. In some cases, you will have to provide the documents necessary to confirm solvency.
Common mortgage down payment amounts
Some banks consider it possible to conduct a transaction without confirmation of the availability of funds to pay the down payment. When making a deal, they ask for a receipt from the seller that he received a certain amount as part of the payment for the apartment.
The listing must include the following information:
The document is drawn up in 3 copies:
The receipt is presented when applying for a mortgage in a bank. You can download the registration form here.
Receipt form for receiving money for the sale of an apartment
If this document is not enough, you will have to confirm the availability of funds intended to pay the down payment.
If the money is cash and the borrower does not want to open an account and transfer it there, he rents a cell in the bank, places the transferred cash in it in the presence of a bank employee. The key to the cell is kept by bank employees and is transferred to the seller after the transaction is completed. Bank employees are required to draw up an act of acceptance Money indicating the specific amount and purpose of depositing the funds.
More simple method is the opening of a bank account in the bank where the transaction is executed and the funds are transferred there. After the transaction is completed, the money will automatically go to the seller's account. If, for some reason, the mortgage applicant does not want to deposit money in the bank where the mortgage is issued, he can provide a receipt from any other bank.
It is also necessary to provide confirmation if the initial contribution is funded by the money received from the state:
A certificate of receipt of these funds and their availability in the account is taken from the organizations under the auspices of which the social services are located. So, to obtain information about the amount and availability of maternity capital, you must contact the pension fund. When issuing such certificates, you need to keep in mind the time period required for their production. In various organizations, it ranges from 3 to 10 business days.
Read also: What is required for a mortgage upon dismissal at oshm
When drawing up documents for a down payment, you must have a paper confirming the cost of the purchased housing. To obtain this document, you need to contact the appraiser. Any company that has a license for valuation activities will do. They need the following documents:
The received document separately indicates the market and salvage value of housing. Prices are subject to rounding. The documents must be submitted to the bank before making a decision on granting/not granting a loan. It would be useful to check with bank employees whether they worked with this appraisal company, and what is its status in the real estate market. Documents must be drawn up in accordance with the requirements of the bank, which may vary in details for different companies.
The transfer of money to the account of the down payment is carried out after the bank considers the submitted documentation.
The procedure for making a down payment is as follows:
To possible problems should include inaccuracies and inconsistencies in the execution of documents, due to which the loan may be delayed. For example, a bank may refuse to accept a home appraisal report.
In order to avoid such troubles, it is necessary to clarify all the nuances of the procedure for obtaining a mortgage in the selected bank.
Why are banks that have loan programs mortgage loans with a zero down payment, is denied extradition, the video below will tell:
In order to take advantage of a mortgage loan, you must officially confirm the down payment. The amount of the minimum down payment is determined by the terms of the loan. With a positive consideration of the application, the bank requires its customers to confirm the availability of money for the down payment documented.
The first step to collect all required documents, confirming the down payment, will be the opening of a bank account. The bank needs the following information:
Depending on whether own funds or various subsidies will be used as a down payment, the package of documents will vary. If the borrower plans to make the first installment on his own, then he must documentarily confirm the availability of money in the bank account or the already made partial payment for an apartment or house. This will require either an account statement, payment documents or a receipt from the seller.
If we are talking about maternity capital, military subsidies or other allocation of funds from the budget for the borrower, then it will be necessary to provide the bank with confirmation of these subsidies. For example, the amount of maternity capital is confirmed by a statement of the balance of maternity capital, which is taken in pension fund(production time up to 3 days).
Read also: How to get a mortgage in Sberbank with mat capital
Common to all borrowers will be a document that confirms the value of the property. This document is also a mandatory requirement of Sberbank when confirming the down payment. In order to obtain documents confirming the value of real estate, it is necessary to go through the procedure for appraising an apartment or house.
Independent appraisers licensed for this type of activity are involved in the valuation. The following documents are required for the assessment:
The appraiser's report must comply with the bank's standards. It is better to resort to the services of companies that have proven themselves in the market. The bank will treat the reports of such companies more confidentially. The appraiser's report is formed on the basis of the documents provided and a personal inspection of the property, taking into account all the characteristics. Often the report is accompanied by photographs of the property.
The appraisal report is an official document with legal force and is submitted to the bank to confirm the value of the property. It takes an average of 1-2 days to complete. When providing a package of documents to confirm the down payment, this report must be attached. After the bank receives all the documents and upon completion of their verification, a final decision on the mortgage loan is made. After this stage, the bank concludes a mortgage agreement with the client and transfers funds to the buyer's account.
Living in your own house or apartment is a dream of many. However, buying a home is not always an easy task. Sometimes you have to resort to the help of banks, applying for a loan. However, not everyone has the opportunity to pay the down payment on a mortgage. Then potential borrowers start looking for ways to get a mortgage without a down payment or find other plausible options.
An initial fee represents the amount from the borrower's personal funds that must be paid when applying for a loan. This is part of the value of the acquired property in the case of a mortgage. How much the initial payment will be in rubles or as a percentage will depend on a large number factors:
The minimum down payment can range from 0% to 30%. Usually, the more the borrower is willing to deposit at once, the less interest rate on credit for him in the future. Besides, monthly payment also decreases significantly in the future, because, than more money you deposit, the less you need to borrow from the bank, respectively, interest will be charged on a smaller amount.
The contribution of a certain share of the borrower's own funds is a prerequisite for obtaining a mortgage loan in most Russian banks. Let us analyze in more detail what the initial payment for a mortgage at Sberbank is, why it is needed and how to get a loan without paying it.
In order to reduce potential risks, many banks in Russia have refused to issue mortgage loans without a down payment. Sberbank is no exception here. You can get a mortgage in it only if you make a fixed share of the cost of the acquired property.
Information on how much the down payment on a mortgage at Sberbank in the context of all existing programs is presented in the summary table below.
IMPORTANT! For borrowers who have not confirmed their solvency and employment with documents, the minimum contribution cannot be less than 50%.
It is also important to understand that some mortgage programs have their own peculiarities in making a mandatory payment. For example, military mortgage involves a down payment of 15 percent. But it is paid not from the serviceman's own savings, but by transferring funds from the state budget accumulated on his personal account for 3 years.
The Mortgage + Mother Capital program also requires a contribution of at least 10%, which refers to state aid funds that can be used to pay part of the cost of purchased housing.
The maximum first payment is typical for loans, the purpose of which is the purchase / construction of not quite standard objects - houses / townhouses and a garage or parking space.
Confirmation of the availability of the initial payment is advisable only after receiving official approval for a mortgage from Sberbank. Before signing credit documentation the parties determine how the borrower will contribute part of the funds from the price of the property. The following options are available here:
The most common is the transfer of a specific amount to the seller's account.
NOTE! Even at the stage of concluding a contract of sale between the seller and the buyer of housing, an item is indicated on making a down payment, including its size and terms for receiving money.
The initial mortgage payment for Sberbank is a confirmation of the client's solvency. In some cases, the bank may require documentary evidence of the availability of the required amount. As such documents, you can present a bank statement on the client's account / deposit, a document on receipt of a state subsidy or a certificate for maternity capital.
IMPORTANT! Only after making sure that the seller has received the amount of the down payment (advance), Sberbank will begin to register the mortgage transaction and transfer the rest of the money.
Officially, for a client belonging to the standard categories of a borrower, any mortgage is issued only upon payment of the first installment. However, there are ways to get home loan without own funds. Let's analyze them in more detail.
The amount of borrowed funds allocated by Sberbank to the client is determined by the cost of the acquired object. It is important to understand what value is meant here. In theory, the value of real estate can be:
The bank is interested in the market value, since it cannot but take into account trends in the housing market, and the estimated value, that is, the value determined by an accredited appraisal company and the Sberbank collateral service.
By overestimating the price of housing by 10-20% (just by the amount of the down payment on the mortgage), the borrower saves himself from the need to invest personal funds, since Sberbank will lend him for the full value of the property.
Naturally, you can apply for an overvalued mortgage only by agreement with the seller, who agrees to document the fact of paying the advance with the help of a receipt, and in some cases with an appraisal company that deliberately overstates the cost of the apartment. So, this method is not entirely legal and is fraught with risks and possible negative consequences for the parties involved. Detailed in an additional post.
The subject of a mortgage without a down payment at Sberbank with an overpricing is usually a secondary property owned by the seller for more than 3 years. On the one hand, it is easier to get a mortgage without a down payment for a new building (there is no assessment required), but on the other hand, it is more difficult (the developer needs to somehow make this down payment in accounting).
Calculating the required amount is quite simple. For example, if a client plans to apply for a mortgage on an apartment (primary housing or finished property) worth 4 million rubles, then the minimum first installment in Sberbank under the lending program for the purchase of finished housing is at least 15%. That is, the bank will oblige the borrower to pay the seller 706 thousand rubles. The contract will include a cost of 4.706 million rubles, and the bank will transfer 4 million rubles to the seller.
The formula is: The amount of the first installment, taking into account the overstatement = real price / 85 * 15 . The contract specifies the price of the apartment. 4 706 000 rubles and down payment 706 000 rubles.
If you need to overestimate by 10%, then you need to replace 85 with 90, and 15 with 10. Similarly with 20% overestimation. It will look like this: First installment with overstatement = 4,000,000/80*20.
Overstating more than 20% of the price of the object is dangerous by receiving a refusal from Sberbank, but at certain points it is real. We recommend signing up for free consultation to a lawyer through our online consultant to clarify this issue.
Sberbank will definitely require proof of the fact that the seller received money from the buyer. A commonly used scheme looks like this:
IMPORTANT! Far from 100% of cases, Sberbank will accept such proof. Practice shows that recently the bank requires either to show the availability of the required amount in the bank account in the name of the borrower or even obliges to carry out all settlements with the seller through their accounts.
When issuing a mortgage, Sberbank will rely on the assessment of a potential collateral. At the application stage, the client will be presented with a list of appraisal firms that the bank trusts. In accordance with the received assessment report, Sberbank will issue a loan in the amount of no more than 15-25% of the figure indicated in it.
More likely to reflect the required amount in the report are those clients who purchase some kind of unique real estate (for example, expensive, located in separate regions), for which comparison with analog objects is complicated.
In the case of buying an ordinary apartment in a large city, there is a possibility of receiving an appraisal report with the designation of the real property price in it.
The whole transaction is based on drawing up a receipt. And it is better to write receipts to both participants. The seller that he received an advance (first installment) from the buyer, and the buyer that he returned it to the opposite side in full.
This will protect the participants in the transaction from possible financial losses.
NOTE! Sberbank accepts receipts only from individual sellers. The document itself must contain all the necessary details: the date of compilation, the data of the seller, the buyer, the amount and reason for writing the receipt.
After providing a receipt from the buyer in receipt of a specific amount of the down payment on the mortgage, Sberbank concludes with the borrower loan agreement and a mortgage agreement.
The next step is to register the transaction with Rosreestr and encumbrance of the acquired property. The result will be putting down the appropriate mark in the system and obtaining a certificate with a record of encumbrance by the bank.
The transaction ends with a non-cash transfer by Sberbank of the remaining part of the cost of housing to the seller's account. This step takes 1 to 5 business days.
The mortgage registration scheme described above is illegal, but often used in the Russian Federation by potential borrowers who are unable to pay the down payment on a mortgage at Sberbank and other lending institutions. It is important to understand that the deal is fraught with considerable risks, so it is worth agreeing to it only after carefully studying the possible consequences.
Among these risks are:
You should not use an overpriced mortgage if:
Overpricing using a mortgage loan for the seller is often the only option to sell illiquid housing or real estate located in areas remote from large cities. For the buyer, this is an opportunity not to spend their own funds on paying the down payment on a mortgage at Sberbank, but to receive a loan in a 100% amount.
The minimum down payment on a mortgage at Sberbank is 15 percent. Clients who do not have enough money can use maternity capital as a down payment, as well as state subsidies, certificates, consumer loans or mortgages with an overvaluation of the market value.
We are waiting for your questions and we will be grateful for the feedback and repost.
In order to buy a property with a mortgage, you need a down payment - at least 15-20% of the value of the property. Such an amount on hand, along with confirmed income, will show the bank that you are solvent and financially organized. So, with a high probability you will be able to repay the loan on time and without problems.
But the down payment is important not only for the bank, but also for the borrower himself. The more savings, the less risk and overpayment.
In this article, we will figure out which initial payment is considered optimal and whether it is possible to take a mortgage without any savings at all.
In principle, banks benefit from a low down payment. The lower it is, the more affordable loans buyers, the more loans, which means more profits. But not everything is so simple. There are more risks too. According to the Central Bank in its latest financial review, the probability of delinquency on a loan with an initial payment of 10 to 20% is 1.5-2 times higher than for loans with a contribution of 20 to 40%.
The risk of not coping with the financial burden, and as a result, getting a fine from the bank for delay or being completely without real estate is not all. With a low down payment, the rate and monthly payments are higher, and the final overpayment to the bank is much higher.
Let's calculate how the costs change with the first installment of 15, 30 and 40%. Let's say the apartment costs 5 million rubles. We take a loan for 20 years, for convenience we take the same rate - 9.2% (with a low contribution, it can be higher).
The difference even between contributions of 15 and 30% is about 6 thousand for a monthly payment and 830,000 rubles for interest.
And between contributions of 15 and 40% - already more than 10 thousand for payment and 1,300,000 rubles for interest.
Of course, in some cases the difference will be smaller. But such calculations are food for thought. It may be worth saving a little more, for example, on a deposit.
You can calculate the monthly payment with your own terms on the mortgage calculator DomClick. if you have Personal Area, click "Edit" - the amount of interest on the loan will be displayed in the upper right corner. If you are not registered, click the "View payment schedule" button - the overpayment will be indicated at the bottom of the schedule.
Rare banks offer mortgage loans without a down payment at all. Most often, the rate on them is higher, the requirements for the borrower are stricter, and in addition to pledging real estate, the bank can attract guarantors to guarantee payments.
Another way, much more risky, is to take a consumer loan for a down payment. We do not recommend doing this, and here's why:
The bank is likely to refuse a mortgage due to an additional loan
Bets on consumer loans above mortgage
The financial burden may be unbearable for the budget and the desired purchase will become a problem
Absolutely safe ways to get a mortgage without savings are state support programs. Here, the state can make an initial payment or part of the amount for real estate for you. There are such programs for families with children, military, young families, state employees, migrants, low-income and other categories of citizens. Each region has its own. You can find out what programs are in your local administration.
One of the most available programs, which act the same throughout Russia - these are:
"Military mortgage"- monthly in January 2019, program participants are credited with 23,334 rubles, they can be saved on a special account and used as a down payment. Further transfers will go to the account of monthly payments. Maximum loan amount 2,502,000
If you still decide to take a mortgage with a minimum down payment, it does not hurt to test your strength.
The penultimate stage in the procedure for issuing a mortgage loan. It is done after:
At this stage, the borrower must transfer funds to the bank, after which the final decision on the terms of the mortgage is made. The transfer of the first installment before signing the contract is necessary for the bank because if the amount transferred is less than the regulated one, the bank will have time and opportunity to reconsider its attitude towards the borrower, his solvency, and so on.
That's why the final mortgage agreement is signed after the transfer of the installment.
The procedure and terms for the transfer of the initial contribution to without fail specified in the preliminary agreement between the bank and the borrower. It should indicate exactly how the contribution is transferred; it should also be specified in the preliminary agreement whether the money is transferred to the bank or directly to the seller.
Before transferring money, the agreement must be read very carefully - it depends on how successful the transfer of funds will be.
As soon as an agreement has been reached with the bank management on who to pay the funds to - the seller directly or the bank - it is necessary to choose the most appropriate option for transferring funds. There are several of them:
Most often this operation pass through safe deposit box, because for a fairly modest fee, the participants in the transaction receive complete security of the transfer, and also exclude force majeure circumstances.
It is best to open a letter of credit account with a bank that has already issued a preliminary mortgage loan approval to the borrower.
After the transfer of money, the participants in the transaction draw up a receipt. It is necessary for both parties to exclude possible claims against each other in the future - without a receipt, in the event of litigation, one of the parties may unreasonably gain an advantage in the trial, since none of the parties will be able to document someone's words sides.
However, the participants in the transaction may not fill out this document, since a receipt check or payment order may serve as confirmation of the fact of the transaction.
The receipt for the first installment on the mortgage is drawn up by the seller, at the same time, at least two copies are required - for the seller and the buyer; sometimes require an additional third copy for the bank. The document must indicate:
After that, a final mortgage agreement is signed with the bank and the process of re-registration of property in Rosreestr begins.
To answer this question, you need to understand the mechanism of the transaction itself. The fact is that according to the rules of the bank, if the purchased housing is issued as collateral, a mortgage loan cannot be issued for an amount exceeding 80% of the cost of housing. This means that if the cost of an apartment is 5 million rubles, the maximum amount issued under the mortgage cannot exceed 4 million rubles.
Respectively, the down payment is the remaining 20% of the cost of housing. In the example above, this means that the minimum down payment is 1 million rubles.
The first installment is not paid total amount loan. Where are the funds going? The contribution goes to pay for the housing itself, and not for the loan, the bank needs it in order to guarantee the return of funds and compensation for losses in case of unreliability of the client.
If the client stops making mortgage payments, the bank will begin to receive losses; then the only option for him is the sale of real estate (which is why it is issued as a pledge), and in order to sell quickly, it is necessary to further stimulate demand - for example, reduce the price by 10% from the average market price. In this case the bank will be able to quickly sell the property and return the funds spent, thereby compensating for the losses caused by an unreliable borrower.
At the same time, it should be noted that in some situations the down payment is used to repay the loan amount, and not to pay for the housing itself. So, for example, if the property being purchased is not pledged, some banks will still require a down payment, but for other reasons: the amount is needed by the bank not for possible compensation in case of forced quick sale real estate, but to confirm the solvency and serious intentions of the client.
That is why, if collateral documents are not drawn up for real estate, minimum size down payment for mortgage programs increases sharply - from 30%, and in some banks from 40%.
We wrote about whether a down payment on a mortgage is needed and what it can be, and it is told about which installment is more profitable -5, 10, 10 or 50%.
Yes it is possible. The procedure for the return of funds is greatly simplified and accelerated if the final agreement with the bank has not yet been signed - then the borrower only needs to give bank employees a written application to refuse a mortgage loan. Then banking management will consider the application, and then transfer the funds back to the borrower: in the signed preliminary agreements between the bank and the borrower, a clause on the return of funds in certain situations must be indicated.
Situations that give rise to a refund should also be specified in preliminary agreements.
If the final contract has already been signed, and, most importantly, the property has already been re-registered for the borrower in Rosreestr, the procedure for returning funds is much more complicated. The client needs to contact the bank, having previously studied the mortgage agreement - in it you need to find the clause “on unilateral termination of the agreement”; the same clause indicates the time limits during which unilateral termination is possible.
If the borrower manages to terminate the contract within the specified time frame, his actions will be legitimate, and the bank will simply assign the housing to itself on the basis of pledge documents issued before the signing of the contract. The money on the down payment will be returned to the borrower.
About the order in which, from the point of view of the law, termination is carried out mortgage agreement and what obligations the parties have, you can read in the "Resolution of the Plenum of the Supreme Arbitration Court of the Russian Federation No. 35" dated June 06, 2014.
Thus, the need to make a down payment is the bank needs and the seller, but a rather unpleasant obligation for the buyer. However, if you figure out why you need to transfer money and, most importantly, how to transfer it, the procedure will no longer seem complicated and even more intimidating.
You just need to choose the most acceptable option for all parties to the transaction, carefully proofread and check the documents drawn up, take the procedure and the loan itself seriously. Then all three parties to the transaction - the bank, the seller and the buyer - will be completely satisfied with both the beginning and the nature of their common cooperation.
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