The State Duma allowed citizens to sell mortgaged homes independently. Previously, apartments promised to the bank could only be sold at auction or auction. There are no restrictions on the size of the mortgage loan.

The State Duma allowed citizens to sell mortgaged homes independently

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The State Duma of the Russian Federation adopted in the second and third final readings a bill allowing citizens to independently sell housing under a mortgage. The document was published in the legislative support system.

If a person wants to sell an apartment pledged in the bank, he must notify the bank. Within ten days, the bank will agree on the procedure and set a minimum sales price. All the money from the sale of the home will go to the bank, and the bank will return the difference between the sales price and the amount owed to the borrower.

Citizens who are in bankruptcy proceedings will not be able to sell real estate on their own. Likewise, the sale will be prohibited to those who have mortgaged their home to several creditors.

Previously, real estate pledged to the bank could only be sold through open bidding or in an auction format.


Kirill Bilyk

Source: RB

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