CAUTION: the speculators in the auction! - News about real estate, Kiev, Kyiv region. Real Estate In Ukraine

CAUTION: the speculators in the auction! - News about real estate, Kiev, Kyiv region. Real Estate In UkraineAlmost every day in...In Latvia in auctions mostly speculatorsAlmost every day in Latvia are auctions for the sale of real estate. To participate in the auction may be one, on account of the bailiff is required to transfer an amount of 10% of the value of the lot. However, now in auctions mostly speculators interested in buying one or another object, or banks.However, as explained in interview to the newspaper "Business&Baltia" member of the Board AO PrivatBank Wladyslaw Bielski, today the number of speculators sharply decreased. It used to be that their participation in the auction, said 10 people, maybe more. And now almost every day cancel the auction due to lack of participants.The expert also believes that to participate in auctions could and those who want to buy property on credit. "Say, a person or family have enough money for the first 10 percent fee. A month when we already know about the auction, a potential customer collects documents, submits them to the Bank, and the Bank shall issue a letter of guarantee that he would be willing to issue a loan to buy property. With this letter of guarantee, you can participate in the auction and in case of victory in the next month, the documents are processed to the end and the customer receives a credit for the purchase of real estate.Theoretically this could be a good option, but need to legally prescribe the nuances of such transactions. Banks are willing to issue loans, but be aware that at the moment when buying property in loan funds is transferred to the account of the transaction, where the seller can obtain only after introducing relevant amendments to the Land register.



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