You will need
- the contract of purchase and sale, money
Even given the fact that the transaction on purchase of the mortgaged property absolutely safe, show attention and diligence. Since the implementation of the agreement occurs not only between you and the seller, but also with the participation of a third party – the Bank.
There are several options for the purchase of such property. You can re-register the right of ownership without terminating the Deposit. Make sure to obtain the written consent of the mortgagee (the Bank). This question on the part of the creditors to solve quite difficult because the Bank first assess the creditworthiness of the mortgagor and they have more priority to money is not a Deposit, but directly from the borrower.
Provide to the Bank the documents proving your income and financial ability to repay the debt. And in case the mortgagee will be completely satisfied with your position, he provide legal security of the transaction.
You can take over the loan payments, thus freeing the debtor from his obligations to the Bank. Or besides the fact that you repay the debt seller, you give him a fee for the purchased property.
The same transaction may be made only after the obligation for the collateral. But that is not considered the purchase of the mortgaged property as collateral is repaid at the time of the transaction. In such cases, to repay the debt, used the money of the buyer. In order to protect themselves give the money to repay the loan as down payment. Put the condition that if the transaction did not take place, then seller will return double the amount.
Arrange a meeting with the debtor and a representative of the Bank. Then you will have full information about amount of debt and the condition of the property, as there are cases that the bail impose a fine. Still get the public service Center, where there is an inherent facility a certificate stating that there are no encumbrances to the object.
Give as a Deposit only the amount that will cover the amount of the debt. The transfer of money produce in the presence of a representative of the Bank or directly in the cashier.
After happen to check the termination of pledge, contract of sale and perform the final calculation.