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- Personal Banking
- Stories & Tips
- Know the secrets of renovating a NPA house to get both location and value
- Personal Banking
- ...
- Know the secrets of renovating a NPA house to get both location and value
ShareKnow the secrets of renovating a NPA house to get both location and value
When talking about the "Old Things" many people may turn away, but if it is an "old house" for those dreaming of having a residence should not be overlooked! Especially foreclosed properties (NPA) or houses that are being prepared for public auction by various banks because it may find glittering diamonds that are waiting for you to own.
NPA (Non-Performing Asset) houses are real estate that debtors are pledged as collateral for loans and mortgages. In many cases, it is a loan to buy from the previous owner but cannot pay in installments. In other words, it means the house that has been selected from the first owner especially about the good location that is still visible at the time, all the flag-raising projects on the beautiful land and the project closed quickly. Until many people couldn't catch up.
Another advantage is might find the price of assets so low that they have to say wow because the bank has a legal framework that allows it to sell the property for a specified period. In addition, there is no worry about legitimate privileges. Because they must go through the collateral appraisal already.
However, do not forget to look at the external factors in the long-term, such as the growth of residential areas and future density. Should choose to suit the purpose of the use, such as living by yourself, should focus on convenience and not too expensive when traveling when linked to workplace no need to wipe off sweat through serious traffic. Or recommend developing for other commercial commerce such as opening a restaurant, café or hostel somewhere, should focus mainly on the location next to the mass transportation system.
After had the prime location, the first step is to go to the bank's website for information and find a second-hand home. Which can choose the type of house, location, or budget desired. Now there is a large database to choose from and convenient.
When looking at the property in the desired location, don't forget to contact the bank to inspect the actual property. Preliminary evaluation with your own eyes on what the condition of the house is. How much improvement is needed? In order to prepare another budget aside from the purchase as well. In this section, loans may be made to renovate the home if needed.
Another unexpected condition that NPA home buyers have experienced is that dream house. There are old residents who have not yet moved out. Even if the legal door is closed but when encounter stubbornness temporal pain may be required to prosecute one another and may take longer than expected. Therefore, before deciding I would like it to be a home that is both airy and free from the previous owners.
And before settling down on assets awaiting sale Must know important rules. The first is the availability of the budget. Because commercial banks tend to call for security deposits for property purchases. The average rate is around 1% of the property price. While the maximum loan amount is usually not more than 90%, providing enough down payment is the first requirement. That won't make your dream house slip away.
Once decided the next step of contacting the bank is not as difficult as thought. If interested in the property from SCB second hand houses, place the interested to make an appointment to see the recommendations. Once they have decided what to buy then go ahead to prepare tender documents and wait for approval for 3-5 business days. Documents to be prepared include the NPA form and the tender offer document for NPA, copy of ID card, copy of house registration and insurance for the purchase of NPA assets.
When trading schedules a contract to buy and transfer ownership on the day of the contract, place a 20% deposit of the selling price. Transfer ownership within 45 days. In case of no deposit, transfer ownership within 30 days from the date of purchase and sale agreement.
Just that ... the second-hand house of your dreams will become the number one favorite house!
