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Can I sell my apartment while the mortgage cancellation deeds are being processed?

Can I sell my apartment while the mortgage cancellation deeds are being processed?

Before the sale of propertyrecommended ask the board a simple note of the farmwhere all the information about the description, holders and loads are the same.

This document will reveal the floor loads. It is best to sell the property for free, but this is not always possible. When we make the decision to sell a house it is possible that the economically amortized mortgagebut still listed in the register.

In those cases where the burden remains, it is advisable cancel the mortgage in the land register and then proceed to the sale. The mortgage cancellation process can be completed through the lender, yourself or an independent agency.

Mortgage cancellation can be due at the end of the term and paid all installments or for early cancellation. Regardless of the method of payment of the mortgage loan, the bank must issue a zero debt certificateattached to the public deed of mortgage cancellation in order to request cancellation of the charge in the property register.

It may happen that still awaiting cancellation of registration, the sale is negotiated, but the buyer’s bank imposes some obstacle or inconvenience. It is not strange to expect the lender to claim the cancellation with the agency of your choice, in doing so accepting the high cost involved.

Finally, if you have already paid off your mortgage and are in cancellation of registration procedures, it is best to wait and then sell the property for free without worrying about it later.

If, on the contrary, Urgent sale of propertyit is advisable to inform both the buyer and his bank so that they are aware that he has already applied to the Registry.

* Sofia Sanchez Fernandez and Sonsoles Martinez Gonzalezlawyers of Lawyers Leana.

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