Mortgage Credit: Punishing Low Income Families -

What are the consequences of loan refusal on the sale agreement? –

In the context of selling real estate, drafting the sales agreement is the first step to follow. This contract contains the terms of the purchase, including its price and method of financing (a loan for example), among other things. Knowing that several files have now been rejected, the inclusion of a pending loan clause in this law is very consistent.

Many applications for mortgage loans are now rejected by banking institutions. This situation is caused by the fact that borrowing rate They increase while the rate of wear remains very low. According to our experts, three out of ten files are no longer bankable at the moment.

It is therefore advisable to take precautions with regard to the items included in the synagmatic promise to sell.

This document may, for example, state that the real estate project will be financed with a loan. In this case, the buyer is forced to approach the banks to try to get some of them. Otherwise, he will be obligated to pay the seller the transaction amount stipulated in the agreement.

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Cancel Purchase

In the real estate purchase process, a synallagmatic promise for sale It is an inevitable stage. He intervenes before releasing the original notary deed and handing over the keys.

This contract obligates the buyer and seller to acquire a house or land and its price. it contains hanging sentences Many of them are required by law. One of them is related to Prerequisite for getting credit to home. Acquisition occurs only if the buyer obtains his loan when the transaction is financed by credit. Inclusion of this item in sale agreement Required when a buyer requests a mortgage.

With this condition, a Only rejecting the request is enough to cancel the acquisition without penalty to the buyer when he requests several loans. It should be noted that a real estate project can be financed by combining, for example:

  • Ordinary loan
  • PTZ loan (zero rate loan).

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Re-deposit the guarantee

When the buyer signs a promise to sell, he pays the seller a security deposit. These payments are generally equivalent to 10% of the value of the house or land.. When any lender does not want to finance the buyer’s project, the sale is canceled and the interested party does not pay any penalty. Therefore, the aforementioned amount will be compensated for him.

If credit seems close, the buyer can ask his bank a certificate of agreement in principle. This document shows that the delay does not depend on his will, but on a managerial concern.

Minimum validity period A pending clause is set for credit by consumer law. It has been proven for at least 30 days in accordance with Article L313-41 of this text. In most cases, the buyer has 45-60 days to apply for a loan from banks. This period is written in the combined promise to sell.

Due to the holidays, a 75-day order is recommended during the summer.

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