Definition of a forensic auction house: a forensic auction house is a house that is forcibly executed by the court.
When the owner is unable to perform the repayment contract or cannot repay the debt, he shall apply to the court for repayment of the debt and enforce it. The court will use the house under the name of the debtor for auction, and the auction proceeds will be repaid to the owed party. The house that was auctioned is the so-called forensic auction house.
Usually, foreclosed houses are more concerned because of their price and no purchase restrictions. After all, their price is much lower than on the market. Sometimes it is common to be 30% lower than the market price. The temptation is indeed great, but some of the pits are very fatal.
Of course, foreclosed houses are generally not allowed to be loaned, and you must pay it in one go after buying them.
foreclosed houses are not subject to purchase restrictions. When completing the transfer procedures, the court's "Rule" and " Assistance Execution Notice " will be issued. The real estate trading center can allow the transfer, but the prerequisite is that the property rights are clear and the debtor cooperates with the delivery of the house.
Some buyers spent nearly 10 million yuan to purchase a property through judicial auction, but unexpectedly, the original owner refused to "mov away". Although the buyer successfully passed the house during the judicial auction, when the house was collected, the original homeowner refused to hand over the house on the grounds that he was unaware of it. When the home buyer found the court to apply for compulsory execution, the court refused to enforce the property on the grounds that it stated on the auction announcement that the property "is not allowed to be auctioned by " (there are still people living in the house).
"No Jiao Ji" is nicknamed "No hurry" in the industry. courts are only responsible for auctions, and the specific handover requires to be handled by themselves. Therefore, when purchasing a foreclosure house, you must recognize whether it is a "no-good auction", and also consider whether you have the time and energy to negotiate with the original landlord.
Also, if the auctioned house contains a lease, and these leases often require some expenses and energy to clean up, it is quite difficult to deal with ordinary house purchases. If the lease is 10 or 20 years, it is the legal means for the debtor to play ( trading does not break the principle of leasing ) - it is recommended to give up directly.
So, when it comes to foreclosed houses, my suggestion is to just take a look.
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