Russians will be able to sell mortgaged real estate on their own

New law: owners will be able to independently sell mortgaged property The State Duma adopted a law that will allow citizens to sell collateral on their own. The document is currently in the final stage of approval by the Federation Council. The innovation will enter into force 90 days after the corresponding official publication. Recall that at the moment the owner of the collateral does not have the right to sell it without the appointment of a bidding or auction by the bank. At the same time, all the costs of evaluating and organizing auctions fall on the shoulders of the owner of the property. It is worth noting that after the sale of real estate by these methods, a citizen may still owe the bank. After all, residential properties are often sold at low prices at auctions. And, if the debt to the bank is not repaid in the amount received in the transaction, you will still have to pay the loan. The new law is designed in such a way as to equalize the rights of citizens and their lenders. So, four months are allocated for the independent sale of mortgaged housing. By the way, during this period the owner is protected from creditors' penalties under the pledge agreement. Moreover, the amount of debt does not matter. So. First, the owner of the property must submit an application to the bank about the desire to independently sell his property. Then the minimum value of the sale of the property is set. And only then can you look for buyers. The main advantage of the law is the opportunity to receive more than the minimum amount assigned by the bank. The difference earned from the transaction remains with the citizen. If the deadlines come out, and the property cannot be sold, then auctions will be scheduled. It should be noted here that auctions and auctions in cases where the property is elite, and its owner is in the process of bankruptcy, will be more profitable for all parties. Most experts have a positive assessment of the new law. It is noted that the innovation will help stabilize the financial situation of citizens who find themselves in difficult situations with mortgage property, as well as have a positive impact on the real estate market in the country.