A landlord gives away a house for free? Recently a Yanjiao Tianyangcheng property free gift news has attracted a lot of attention. The China Times reporter learned that the current housing prices in Yanjiao have basically dropped by half compared to the peak period, and some Home buyers feel hopeless about repaying their loans and want to sell their properties, provided that the receiver needs to repay the remaining mortgage.
In the Yanjiao market, there have been individual cases of property giveaways and cases of abandoned homes and broken mortgages.
The street of sales offices in Yanjiao was once a street.
Buyers cut their flesh to “give away” their homes
On January 12, a Yanjiao home buyer, Mr. Huang (a pseudonym), posted in a bar that he was willing to “give away a property in Tianyang City (there is still a loan) on a first-come, first-served basis and pay back the loan himself”, attracting many netizens.
Subsequently, on January 26, Mr. Huang again posted a “complimentary Tianyang City real estate” post. Mr. Huang introduced the house is the day Yang City 2 apartment building, bought in 16 years, 40 square meters, there are still more than 700,000 loans, is now considered unable to pay the mortgage, but at present there is no mortgage, if you are willing to bear the transfer costs and return travel expenses, you can always do the procedure, usually do not log in to post, think about it directly plus WeChat.
Mr. Huang posted on the Internet “give away the day ocean city property” post screenshot
The Chinese Times reporter contacted the landlord, Mr. Huang said he bought 40 square meters of Yanjiao Tianyangcheng one bedroom in 2016, is 70 years of ownership of the house, the house book, finely decorated, facing east, the price was 27,000 yuan / square meter, a total of 1.08 million yuan, two percent down plus other costs paid a total of 240,000 yuan. The mortgage has been paid for more than four years now, with monthly payments of 4,200 yuan, leaving 736,400 yuan in loans. Willing to give away the property, provided the buyer pays off the rest of the loan, which means a one-Time transfer of the house for the price of the remaining $736,400 loan. Owners are not currently cut off, will not affect the housing transaction, can cooperate with the lowest price of the transfer, the transfer fees B bear.
“Now is considered to be unable to pay off the mortgage, because when you buy is high, and then pay the mortgage will have to eat dirt”, said Mr. Huang when talking about why he chose to give away the property, the house lived for a while, when it was bought for the wedding, but after the wedding to Yunnan, has now settled in Yunnan, no longer back to Beijing.
In this case, Guo Yi, the chief analyst of Hershey, said in an interview with the Huaxia Times that for this buyer, buying a house is more about satisfying residential needs, but as the city of residence changes, the property in Yanjiao becomes a relatively chicken-hearted negative asset. Objectively, it is difficult for this buyer to find a taker because the three years of purchase restrictions in Yanjiao have really caused a large amount of investment and speculative demand to be withdrawn from the market. Those who are eligible to buy Yanjiao properties need to have three years of local social security or proof of taxation, while most of Yanjiao’s endogenous demand is for improvement, and the exotic demand for smaller products is broken, making it more difficult to find subsequent takers for the operation.
House prices have been cut down from their peak
Yanjiao, as a Beijing-ring area close to Beijing, is the second best place for many northerners to settle down and take over the overflow demand from Beijing. However, in recent years, with the tightening of national regulation, Yanjiao’s housing prices have fallen for more than three years, and the emergence of individual cases of property giveaways in the Yanjiao market reflects the current downward trend of Yanjiao’s second-hand housing market.
The Huaxia Times reporter inquired about the price of housing in Tianyang City, and data from Chain Home showed that the current house second-hand price is 19,660,000 yuan per square meter. According to the market price, the total value of Mr. Huang’s house is currently 786,400 yuan, down nearly 300,000 yuan from the 1.08 million yuan when he bought it. Add more than four years of mortgage and interest, a rough calculation, Mr. Huang is currently floating loss of about 400,000 yuan.
However, from the point of view of the cost performance of the buyer to buy the house transferred by Mr. Huang, the current price is only about 50,000 yuan lower than the market price, and to take over Mr. Huang’s house also requires the buyer to pay about 2.7% of the closing costs, as well as the burden of Mr. Huang’s travel expenses from Yunnan to Yanjiao, a comprehensive view, if the purchase of the house, the subsequent buyers can not account for much “cheap “The price of Tian Yang City has fallen.
A local real estate agent in Yanjiao, Xiao Deng (a pseudonym), told the China Times that the price of Tianyang City was relatively hot in 2016, with the highest price of a one-bedroom apartment reaching 37,000 yuan in March 2017, followed by a strict purchase restriction policy. The price of a room in Tianyang City has dropped to the 2015 level, between 17,000 and 19,000 yuan.
Guo Yi analyzed that Yanjiao’s house prices have slipped to the point where many projects have seen a cutback. A rough calculation shows that if a home buyer was taking out a loan at the time, a cutback in house prices means that the down payment has basically all evaporated, so many institutions and investors have suffered heavy losses.
“The situation of not being able to repay loans in the Yanjiao market is not new.” Xiaodeng said, “We have also heard of cases of complimentary houses, but home buyers can’t take advantage of them either. The so-called gift house is the owner can not afford to pay the monthly mortgage, they will sell the house to you at the price of the total amount of the remaining mortgage, to sign a contract of sale, but such a house is still beyond the market price, the risk is also relatively high. Owners who can’t repay their loans are definitely in a bad financial situation, may have other debts, the house may be mortgaged, and a comprehensive risk assessment is needed.”
Factors of the Epidemic also exacerbated the distressing situation of Yanjiao real estate market. Broker Deng said, “Many people are not doing well this year, and some will choose to sell their houses to make up for the hole in their business. If the landlord is not particularly short of money, he will not choose this time to sell his house. The volume of transactions was a little better some time ago, but due to the recurring epidemic in Hebei, there are fewer and fewer people looking at houses in the market recently.”
Recent Comments