The initial selling price of the apartment can not be less than 90% its value, which is specified in the act of evaluation. – The Bank may purchase the collateral property? – Yes, the holder of the collateral may be one of the buyers at a public auction. – And if the subject mortgage at the auction no one purchased? – In such a case within one month from the date of the first auction to be held repeated public auction. In this case, the initial selling price of flat object can be reduced, but within 25%. If is not realized and repeated public auction due to lack of demand, subject be purchased by the mortgagee at a price not lower than 65% of it (the subject of mortgage) of the cost. In the case where the bank does not redeem the object property at a specified price, the mortgage may be discontinued by the court.
– What are the consequences of such termination by counterparties mortgage? – Mortgaging property, not burdened by mortgage obligations is not the borrower, while the mortgagee, in accordance with what continues to be unsecured (unsecured) loan, which, despite the end of the mortgage, the borrower must repay. – Can pricing magnitude less than the cost of credit? – The price of the mortgaged property to be sold, does not depend on the loan amount. Therefore, the possible situation in which the apartment price will be less than the loan amount. – How and on what grounds borrower may challenge the established judicial apartment cost? – By appealing against the decision of the court of primary jurisdiction to a higher court (appellate or cassation). These bases can be, for example, a certain discrepancy between the prices of mortgage by the court of its market value, the existence in the act of evaluation, which used the trial, conflicting information, the preparation of an act of evaluation by an unauthorized entity, and the like. – Is such a scheme: the bank and the mortgagor shall conclude an agreement based on which, for non-return mortgage Zastavna borrower's property is transferred unconditionally to the bank and can be implemented In addition to the judiciary? – Law "On Mortgage" provides for registration of the contract to satisfy the claims of the mortgagee between him and the holder of the collateral of such an agreement may also be considered relevant clause in the mortgage agreement). It may involve the transfer of ownership of the mortgagee mortgaged property on account of repayment of the loan or the right to sell the mortgaged property on his behalf third party. In such situations, the subject of mortgage is transferred into the ownership of a bank or sold to a third party at market value, confirmed by an act of assessment or agreement between parties, so the court hearing is not required.