What goes "under the hammer" ON the CHEAP??? - News about real estate, Kiev, Kyiv region. Real Estate In Ukraine
To buy property on the cheap offers not only in newspaper ads. Due to the fact that there are more cases of loan defaults, many banks began...To buy property on the cheap offers not only in newspaper ads. Due to the fact that there are more cases of loan defaults, many banks began to sell the property "under the hammer" at a significant discount. How to purchase and what you need to do.Where the wind blowsDue to inflation and difficult economic situation in Ukraine, financial institutions are faced with the problem, when the borrower is unable to repay the loan. Imagine a situation that a person has taken a large loan secured by any property, such as a car. But certain circumstances prevented that person to repay the loan to the Bank. In this case, the Bank left the car, cover the unpaid loan. The Bank's own car this is not happening, and to bring the unpaid money, the car is sold at a lower price or auctioned. "In case, if there is a problematic credit and no way to revive the credit worthiness of the client fails, the Bank is focusing on voluntary implementation of client collateral, - says the head of the legal support division of the Department on work with troubled assets, Marina Bespalov. - If the borrower does not agree with the sale of the property and tries to avoid the execution of the undertaken obligations, the financial institution applies to the Executive authorities for the purpose of lawfully hold the compulsory alienation of property".She also stressed that the collateral is seized in accordance with the Law "On enforcement proceedings", and then transmitted to the trading entity receiving the right to conduct auctions to sell goods. It would be nice to know that the banks put up for sale.What goes "under the hammer".