Where to buy an apartment for less than the offer? - News about real estate, Kiev, Kyiv region. Real Estate In Ukraine

Where to buy an apartment for less than the offer? - News about real estate, Kiev, Kyiv region. Real Estate In UkraineWas born the myth that banks are already massively selling apartments insolvent debtors. Offer of force 2-5 "lodges". Little market "hostages" — apartments, loaned by the banks and...Where to buy "Bank" apartmentWas born the myth that banks are already massively selling apartments insolvent debtors. Offer of force 2-5 "lodges". Little market "hostages" — apartments, loaned by the banks and sold with the consent of the borrowers, and "prisoners" is excluded by the court — not at all.Seized property noNone of the banks I have not heard that they sued the apartment to the borrower and put her up for sale by the State Executive service (GIS). Because according to the law "On enforcement proceedings" only she can realize this "confiscated" and only at the auction. Lying bankers? I guess not. For Kyiv city GIS mandatory pre-market assessment of such apartments holds the "Ukrainian expert group". And expert Andrew thereof Cherevaty said that since the beginning of the year through them for the GIS took only 2 apartments and is now the no.So no luck for me to bargain at the auction, but sorry! According to Andrew Cherewatuk, the methodology assumes that the "confiscated" can be estimated at 20% below market value to a buyer is found. At the first auction the apartment is set not lower than 90% of the appraised value, and if it is not picked up, then on the second one, the price can be reduced by 25%. If this scheme would take place 1-bedroom. the apartment has a market value of $60 thousand, then to the second trading its price "dried out" would be to $32.4 thousand. For buyers tempting. But it is unprofitable neither to the Bank nor the borrower the proceeds to pay off the debt is not enough.Believe? Put, citizen N a year ago, took a 20-year loan for such an apartment — and then it cost about $100 thousand, paid 30% down payment ($30 thousand) and for the year repaid loan principal of $3.5 thousand in total still owes the Bank $66.5 thousand — an amount twice as large than the proceeds from the sale using GIS such housing. And the Bank in the loser: if N has no other property that can be forced (again, through the court and GIS) to sell, he will be bit by bit to charge the balance owed his salary.By the way, today is the only chance to obtain the mortgage loan to transfer the contract of the insolvent borrower. As explained by the head of credit card products and "Raiffeisen Bank Aval" Irina Patsuy, the conditions for a new borrower remain the same as those that applied to the former. But if you need a loan "unity" for $100 thousand, if today her red price — $50 thousand, decide for yourself.How to bargainBut enough digressions, I went on, "the Bazaar". Surprised (but not upset — I don't need a "treshki" more than $100 thousand) that not one of the three apartments issued by Bank "Finance and Credit", is no longer for sale. In the problematic operations division reported that one apartment already purchased and on two other borrowers find the opportunity to repay the debt.Employee "UkrSibbank" Yulia Smirnova acknowledged that "dormitory" for $50 thousand and "unity" for $65K is a "cold — case files, unsuccessfully sold more than 2 months. And inferior to him only $1-2 thousand was Compliant Department specialist distressed debt "Ukrgasbank" Dmitry Galuk: "kopeck piece" for $62.4 thousand immediately marked down to $60 thousand, and on my offer to give it away for $55 thousand said " maybe, but the question should have been discussed with management.InitiativesIn the Parliament waiting for the consideration of bills on the relief measures for borrowers: it is proposed to impose a moratorium on involuntary resettlement until 2011. And afford to pay for foreign currency loans in UAH at the NBU rate, which was at the time the loan is 4.85—5.32 UAH./$), and banks the difference is compensated through tax breaks on profits. Good initiative? "It will be a serious blow to the banking system. If you introduce a moratorium will increase dramatically no payment, " said the independent expert Andrew Onistrat. "I don't see why block the budget tax breaks to banks". At the same time, one cannot but agree with the second initiative: the ability to repay the foreign currency loan at a good old rate is 4.85—5.32 UAH./$ would be a great help for the borrowers, respectively, and problem loans, and are willing to sell the collateral of the apartment would have been less.Confiscated risky to takeIt turns out, confiscated by the court apartments almost no not because of the "kindness" of the banks, and because of a slight amount of elapsed time since the crisis began, caused mortgage defaults. As explained by an analyst of the Ukrainian national mortgage Association Alexander Moiseenko, the Bank may proceed with the disposition of the collateral (houses) only after the borrower more than 90 days did not pay on the loan. Goes, banks simply do not have time to spin a flywheel seizures.And, actually, is it safe to buy such confiscated by the court of an apartment, does not risk the buyer to remain without money and without shelter? Interestingly, even among lawyers consensus on this.The lawyer of legal firm "Wimac-" Vladimir Yakovenko says: "Buying a flat, you risk nothing. She passed a multilevel test of "purity": first, when obtaining a loan, purchase, and then in the forced sale of State Executive service".Different opinion lawyer of legal firm "guarantor" Dmitry Maltsev: "I advise you not be tempted by such apartments, even if they sold 50% cheaper than similar on the market. The risk is very high. Banks are forbidden to register in such housing anyone other than buyers, but it contradicts the Civil code, and people most often prescribed for their children. Buy this "pig in a poke" — and he will graze: the previous owner or the Board of Trustees will be served for you in court (violation of the right of minors to housing and apartment you will select. Or the old owner will appeal the court's decision on the alienation of his apartment, or the results of the auction believing that the price was too low. The courts can take years, and until a decision is made in your favor, in this apartment you have no right to possess".Discounted flats will pull down the prices on everything elseAll the experts we interviewed argue that the "burning" of apartments, urgently selling on outstanding mortgage, will become more and more. However, their influence on the further cheapening of real estate vis-a-vis our see differently.Director of centre of Megaron-In" Vladimir Vinokur said: "Maybe before the summer is a quarter of borrowers unable to pay their mortgages. Then there is a 20% increase in the market offer secured apartments. But they will not go below the market value, because the borrowers need to repay their loans. And generally will be confiscated weak demand: people understand that with the purchase of such housing, we must be careful previous owners will resist eviction. In short, the influence of the "banking" of housing prices will be negligible". Questionable inferences. When the current is almost zero demand any increase of supply in the market should cause a chain reaction of price reduction."By the summer of 25% of the market will be collateralized flats sold by agreement between banks and borrowers, and another 5% of confiscated goods — predicts the independent expert Ruslan Cyclitis. — They will become a powerful engine of price reductions: a people caught in a difficult situation, will rush to sell and will become a dump. This will force other sellers to drop the price more. So for the next three months, I guess, cheaper housing will be at least 15-20%"."The increase in the number of mortgage apartments — only one of the factors that will cause the end of the spring decline in the value of "secondary" 20%", says the head of the Department of housing consulting company "New city" Olga Reading. Not less important is the lack of mortgages and "live" money from the population"."Not even the number of "burning" apartments important, and psychological impact on the market, the expectation that there will be a shaft of such housing, and this will play a crucial role in reducing the cost — I think 15% by June," — says a leading specialist consulting company "Kansas" Denis Morozov.Based on these forecasts and red pictures of apartments on the market (see table), by June, the average cost 1-bedroom drops to $40 thousand, 2-bedroom to $60 thousand, 3-roomed.

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