Want To Sell House But KPR Has Not Been Settled? Here’s how!
Aside from being a shelter and unwinding, a house must have its own meaning for everyone. But in the end sometimes there are times when we are ‘forced’ to sell the house.
The problem is, how to sell it if it turns out your home mortgage has not been paid off? The answer, of course, can and is actually easy to do. What is clear there are several reasons why someone wants to sell his house even if the mortgage is not paid off:
Usually because you want to buy a bigger house or move to a better location.
It could be because it is facing financial difficulties so that one way to reduce the mortgage loan repayment is to sell the house.
Yes, you can indeed sell the house-even if the mortgage is not paid off-because the house purchased with the mortgage is already yours. Just what you need to understand:
Because the purchase of the house is done by borrowing to the bank, the Certificate of Property (SHM) as proof of ownership of the house is held by the bank as collateral.
If you do not fulfill such obligations as repayment, the bank has the right to confiscate and sell the house to cover the unpaid debt.
So, if you really want to sell the house, then you as the owner and the borrower who must sell it. And then pay off your remaining debt obligations taman minimalis to the bank. For that there are several ways that can be done, such as:
Pay off the remaining mortgage repayments
Because it still has obligations to the bank, then you must pay off the rest of the mortgage to the bank. Once paid, the bank will hand over the title certificate to you. After that you can sell the house to others.
This step is called accelerated payback. The point is, you have to pay off more quickly than the specified time period. And because it is accelerated then there will be a fine that must be paid by you as a borrower. Usually a fine is calculated as a certain percentage of the remaining loan.
This is the easiest way though not the easiest because you have to have enough money to pay off the rest of the bill plus the fine. So what if you do not have money to pay off?
Sell his house
Yes, just sell the house to someone else. How? You have to find a buyer. And since the house is purchased with a mortgage loan, where the certificate is still held by the bank, the buyer must be informed from the beginning.
Once you find a buyer and an agreement on the sale price of the house, then the process is:
The buyer settles the mortgage liabilities to the bank so that the certificate of interest and certificate can be issued by the bank so that the legal status of the house is not a guarantee anymore.
The buyer pays to you as a seller. From the agreed sale price, the remainder of what has been paid to the bank must be given to you as a seller.
After repayment to the bank and advance payment, the next process is a contract of sale and purchase in front of the notary by signing the deed of sale and purchase to change the legal ownership.
In this process, the understanding of the prospective buyer is very necessary because the buyer must pay first, just some time later the certificate can be issued by the bank.
You have to realize, not all buyers want to do this process. Usually because of concerns such as certificates that do not go out even if paid in full. To fix this, you need to use a notary service to convince potential buyers that the process is done correctly.
Over KPR Loans
This is the most common way, potential buyers make purchases over credit. There are two options:
Take over mortgages to the same bank. The buyer proceeds the loan at the same bank.
Moving mortgage to another bank. The buyer resumes the loan at a different bank.
The advantage of choosing a home loan take over with the same bank is the buyer and the seller do not have to bother because the house documents that will be bought there at the bank. All it takes is to complete the requirements to be filed to the bank.
But if prospective buyers choose to use a different bank, the process of over credit will be more difficult. Because each bank has a different policy. This over-credit process could have failed if the bank refused a prospective buyer’s mortgage. Therefore you must be prepared to face it.
You should also make sure that potential buyers make a down payment to you first. This advance is your ‘profit’ selling the house.
For example, the sale price of a house is Rp 1 billion with the remaining mortgage debt of Rp 800 million. Then you need to make sure that the remaining Rp 200 million is paid by the buyer to you.
For the buyer, the mortgage value can be 800 million or 1 M, it all depends on the value evaluation (appraisal) of the house when the loan is submitted. Maximum mortgage from bank is 80% of home value.