What do you need to know about the sale of an apartment that is under mortgage?

Buying an apartment with a mortgage for most Russians today is the main opportunity to solve the housing issue. However, there are cases when, due to a changed life situation, an apartment needs to be sold. In this article, we will tell you what you need to know about the sale of an apartment that is under mortgage.

The first and perhaps the most important step in deciding to sell an apartment for a mortgage is to familiarize yourself with the terms and conditions of the mortgage agreement. It is important to study all the documents related to your mortgage loan in order to find out possible restrictions and requirements of the bank. Some banks may provide penalties for early repayment of a mortgage, which may affect your credit history. Therefore, before starting the sale process, it is necessary to clarify all the nuances with the bank.

Next, you should pay attention to the consent of the developer. Some developers prohibit the resale of real estate before commissioning of the house. Therefore, when buying an apartment with a mortgage, it is necessary to carefully study the contract with the developer, possibly by consulting realtors or lawyers.

When selling an apartment with a mortgage, it is necessary to agree on who will cover the loan balance. It can be either a buyer or a seller. It is also important to evaluate the property in order to set an adequate price for sale. Realtors have real knowledge of the market and can help with the assessment.

There are also financial organizations and companies that provide the opportunity to rent an apartment in a "trade-in". This option may be beneficial in certain cases.

Before selling an apartment, it is also important to prepare the housing for sale. This may include redecorating, adding accessories, professional photos and videos of the property. It is also necessary to prepare all the necessary documents in advance.

Selling an apartment with a mortgage can be a difficult process, but with proper preparation and planning, you will be able to successfully complete this transaction. Do not be shy to seek the help of professionals — realtors, lawyers and financial consultants to make this process as comfortable as possible for yourself.

The sale of apartments in St. Petersburg is a responsible and exciting event that requires a professional approach. That is why the «Nevsky Prostor» real estate agency offers its services to help you cope with this task without unnecessary hassle.

We understand that selling an apartment is a serious step, and your goal is not only to get a good price, but also to complete the transaction in a short time. That is why we are ready to offer you high-quality realtor services that will help you achieve the desired result.

If you are thinking about selling an apartment in St. Petersburg, please contact us. We are ready to offer you a full range of services that will make the sales process as comfortable as possible for you.

• Tel: +7 (812) 325-38-38 (from 9-00 to 21-00 on weekdays; from 10-00 to 18-00 on weekends and public days)

• Address: Russia, 199406, Saint Petersburg, Nalichnaya Street, 22

• You can also ask our specialists online