What is the difference between a foreclosure and an apartment?

As the housing market prices rise again and again, home purchase policies have been adjusted again and again; therefore, other ways of purchasing homes have been developed, such as small property rights houses, apartments, foreclosed houses, mortgage houses, etc. Today, yyseoer consultant will tell you the difference between an apartment and a foreclosure house.

1. Apartments

Apartment houses refer to residential buildings built on commercial land.

1. No purchase restrictions

Due to policy factors, under the current strict home purchase and loan restriction policies, groups without home purchase qualifications have been excluded. When groups in need of housing cannot choose residences, they can only consider non-residential apartments as a transitional option.

2. The total price is low

The construction area of ??apartments is generally small, and the unit price is relatively low compared with residential buildings. The total price is generally not high, and the purchase threshold is low.

3. Convenient life

Apartments are generally located close to rail transit routes, and some apartments are even planned as a commercial complex. Mature transportation facilities and commercial facilities make life more convenient and can attract a large number of people.

4. Easy to rent. As the quality of life of modern people improves, apartments with better decoration are more popular than old residences.

5. Diversification of uses

Because the land nature of most apartments is industrial or commercial land, they can be used for self-occupation or registered companies. This is more diverse than residential buildings.

However, due to the nature of the land, its useful life is generally 40-50 years. In addition, living costs are high, property fees are high, and water and electricity are charged on a commercial basis.

2. Foreclosure House

Foreclosure house is the abbreviation of the property auctioned by the court, which refers to the house that has been forced to auction by the court. When the debtor (owner) is unable to perform the mortgage contract or pay off the debt, the creditor applies to the court for enforcement through various judicial procedures, auctions the house under the debtor's name, and uses the proceeds from the auction to satisfy the creditor's rights. This process is called Foreclosure room.

1) No purchase restrictions

In this society, of course, what we are most concerned about when buying a house is the issue of purchase restrictions. Foreclosure houses can avoid purchase restrictions. The size of the foreclosure house, the area of ??purchase, the local or out-of-town household registration of the buyer, and the qualifications for purchasing the house are not affected by the foreclosure house. Anyone can participate in the bidding for the foreclosure house and Purchase (except in a few areas). No matter how many houses you have in your name, you can buy them. Whether it is used as a residence or as an investment, it is the best choice.

2) No waiting in line

Although some friends are qualified to buy a house, it is really troublesome to have to go to the lottery all day long. Foreclosure houses are more convenient. There is no need to queue up for lottery. You can choose your favorite house type, location, and community, and you have full choice.

3) Ultra-low price

The transaction price is lower than the market price, which is what we call "leaking out". According to the People's Court's regulations on property auctions, the reserve price determined by the People's Court at the first auction shall not be less than 80% of the appraisal price or market price. Once the house fails to sell, the price will be reduced again, to 50-20% off.

4) Loans available

Foreclosure houses can be loaned, of course, in accordance with local policies. Customers with good credit reports can be approved for loans based on their personal conditions and needs and can enjoy the national bank policies and interest rates.

5) After settling in, you can enjoy education, pension, social security and other resources.

If you settle in Chengdu, you will settle in accordance with Chengdu’s points settlement policy.

6) Foreclosure houses are regular 70-year property rights, which will be automatically renewed after expiration.

7) Some foreclosure houses come with a degree

For friends who will have children in the future or already have children, it will greatly facilitate their children's study.

8) It is more secure to sell in court

To sum up, if a foreclosure house is compared with an apartment, the first reason is the lower cost of living, the second is the issue of property rights, and the third is the foreclosure house. The overall area will be larger than that of an apartment, making it more suitable for a family to live in.

Foreclosure homes are even better in terms of affordability, durability and convenience. However, there are also some risks in foreclosed homes that cannot be ignored.