What are the advantages of a foreclosure house?

First, let’s talk about the advantages of buying a foreclosure house:

1. The starting price is cheap. This should be the issue that everyone is most concerned about. Many people choose to buy foreclosure houses just to get a bargain. Generally, the price of foreclosure houses is lower than the price of second-hand houses in the market. If there is no competition, there is a possibility of missing out at a low price. Still big.

2. No purchase limit or set limit. Nowadays, many cities have restrictions on the purchase and sale of houses, but foreclosure houses have no purchase restrictions in most areas, which is a good choice for many people who are not qualified to buy houses.

3. Loan available. Most foreclosures can be mortgaged, as long as you confirm whether the subject property can be mortgaged before purchasing. You can also apply to the court for a "foreclosure loan". ("Foreign auction loan" refers to the purchase of real estate by participating in the judicial auction of the people's court. The buyer pays a certain proportion of the down payment, and uses the purchased real estate as a mortgage for the rest. Apply for an auction loan from the bank and pay for the auction items in the form of a mortgage. No need to pay once. Full payment is required)

4. Buy and move in immediately. Foreclosure properties are all existing properties, so there is no lottery or queuing required, and there is no risk of not being able to get the property off-plan. And after settling in, you can enjoy the same resources as children's education, social pension and other resources just like buying a regular house.

After talking about the advantages, let’s talk about the possible risks of buying a foreclosure house:

1. The transfer of ownership is impossible. Under normal circumstances, there will be no problems with property rights and transfer, but there are also a small number of houses that cannot be transferred.

The first is "municipal supporting housing". The property owner on this type of property certificate does not belong to a single individual, but to a municipal organization. Therefore, this type of property requires special attention to the buyer's requirements and transfer conditions;

The second is incomplete property rights. Sometimes we will see "auction 1 share" and "30" in some subject matter on the auction page. "share" and other terms, this is an incomplete property auction. Because there are generally three modes of real estate certificates: individual property rights, joint ownership, and possession by shares. When a property occupied by shares is subject to judicial disposal, it can only involve the disposal rights in the name of the person subject to execution, and it is suitable for other property rights holders to participate in the auction.

The third is affordable housing. The property rights of affordable housing must be changed at intervals of more than five years. Affordable housing that is less than five years old cannot be transferred.

The fourth is demolition and resettlement housing. This type of housing will involve many problems. Not only is the transfer time limited, but some may also have secondary transfers or multiple transfers.