Tag Archives: financial

Commercial Mortgages

By the word 'mortgage', we started to get used recently: it is a relatively new concept for the Russian practice. If your mortgage housing is becoming more common, the commercial real estate mortgage – has only a few precedents. Mortgage real estate or commercial mortgage (the mortgage business), is widespread throughout the world. Western experience shows that with proper operation of commercial real estate – rental premises for offices, shops, service businesses – its yield is comparable to any other small business and allows the use of mortgage loans. The essence and conditions of commercial mortgage mortgage loan issued for the purchase of non-residential buildings: a warehouse, office, etc. Meaning the mortgage is to purchase commercial real estate lending under her own pledge. Unlike residential lending, commercial mortgage is short term loan repayment, but the relatively high interest rates.

Typically, the annual rate credit mortgage commercial property ranging from 12 to 16%, mainly in foreign currency. The term of the mortgage property – a maximum of 12.10 years, and the most common term – 5 years. Borrower must make an initial contribution of 25-40% of property value. In this case, the client must be a profitable balance sheet and at least one year on the market. Legal nuances commercial mortgage commercial mortgage scheme similar to the non-residential mortgage housing: there is the same assessment procedures of the borrower and the object, the requirement for a down payment. But there is a fundamental difference – law does not allow companies to register a mortgage on real property until the conclusion of the sale.

Savings Bank Developer

For the same realtor that day job, where they know all the pitfalls, and competent specialist is not difficult to profitably sell your apartment. Second, when buyers of apartments in new building go directly to the developer, his choice is limited to only the objects of the builder. When you contact a real estate agency can observe a completely different situation. According to experts, is currently inappropriate exclusive relationship between a developer and the agency, as in this case will form the dealership contracts, a condition which is the fulfillment of sales plans. Thus, the realtors do not forced into a rigid framework for the implementation of any plans. That is why they are cooperating with various companies and developers have full information about the market, respectively, can offer various options that will fit the requirements of each customer. Third, in every major real estate agency is a credit department, mortgage consultants are always aware of which mortgage programs absolutely all banks. They know exactly which banks lend to housing in new buildings, they know the criteria that defines each bank issuing the mortgage.

The experts are always ready to help the buyer and to offer appropriate loan program and advantageous it is for him! Fourth, the real estate agency will provide due diligence of the object. Large companies will not risk their reputation by collaborating with the developers and selling items that are suspicious. In this case, it is important to note that during the sale of certain real estate developers with a buyer does not charge a commission, it means that whether you buy an apartment directly from the developer or by real estate agencies – the price remains the same. Thus we see that buyers of apartments in the building, turning into a real estate agency, gets a range of services that integrates and service realtor and developer, and the bank, which is undoubtedly very convenient for the customer. A good example of such interaction can be regarded as a transaction that took place in the middle of September to campaign organized by the Union of Krasnoyarsk Realtors with the support of the Savings Bank. After a positive decision on granting a mortgage loan, the representatives of the Union of Realtors picked up a good customer for his claims and the bank's new home – the object of company-builder "Krasstroy." It is important that the facility was purchased for the cost of that proposed developer and realtor services in this case were present for the buyer. But he remained confident in the quality and security of the transaction!