How is the sale of the mortgaged house calculated?
In recent years, the real estate market has been highly volatile, and many home buyers have considered selling properties that are still under mortgage due to cash flow or other reasons. So, what is the specific calculation method for selling a mortgaged house? This article will give you a detailed analysis based on the hot topics and hot content on the Internet in the past 10 days.
1. Basic process of selling a mortgaged house
Selling a mortgaged home requires going through the following steps:
| steps | Specific content |
|---|---|
| 1. Assess property value | Use a professional agency to evaluate the current market price and determine the sale price. |
| 2. Calculate remaining loan | Contact the bank to inquire about the remaining loan principal and interest. |
| 3. Sign the sales contract | Sign a contract with the buyer and specify the payment method and transfer time. |
| 4. Release of property | Use the buyer's down payment or own funds to pay off the loan and release the mortgage. |
| 5. Handle transfer of ownership | Complete the transfer of property rights and collect the final payment. |
2. Specific calculation method for selling mortgaged house
When selling a mortgaged home, key calculations include remaining loan balance, taxes and actual amount received. The following is the specific calculation method:
| Project | Calculation formula | Description |
|---|---|---|
| remaining loan | Remaining principal + early repayment penalty | You need to check with the bank for the specific amount. |
| value added tax | (Sale price - Original purchase price) × 5.6% | Exemption after 2 years. |
| personal income tax | (Sale price - Original purchase price - Reasonable expenses) × 20% | Those who have lived for more than 5 years and have their only residence are exempt from the tax. |
| agency fee | Selling price × 1%-2% | According to the intermediary company's charging standards. |
| Actual amount received | Selling price - Remaining loan - Taxes - Brokerage fees | The final net income received by the seller. |
3. Things to note when selling a mortgaged house
1.Early repayment liquidated damages: Some banks charge liquidated damages for early repayment, so please consult in advance.
2.Buyer Loan Risks: If the buyer also needs a loan to purchase a house, he must ensure that his loan is approved, otherwise the transaction may fail.
3.tax benefits: Make full use of policies such as “VAT exemption for 2 years” and “Personal tax exemption for 5 years” to reduce transaction costs.
4.Fund supervision: It is recommended to use a third-party fund supervision platform to ensure transaction security and avoid disputes.
4. Hot topics on the Internet in the past 10 days and developments related to mortgage housing
Recently, the following topics have been closely related to mortgage housing transactions:
| hot topics | Main content |
|---|---|
| Mortgage interest rates cut | Banks in many places have lowered mortgage interest rates, increasing demand for early repayment. |
| Second-hand housing transaction volume rebounds | The second-hand housing market in some cities is active, and the mortgage housing sales cycle has shortened. |
| Tax exemption policy | Many places have launched “tax refund for house exchange” policies to reduce replacement costs. |
| The number of foreclosed homes increases | Some mortgaged houses entered the foreclosure market due to the suspension of payment, causing concern. |
5. Summary
The calculation of selling a mortgaged house involves many factors such as remaining loan, taxes, intermediary fees, etc. The seller needs to make financial planning in advance. In the current market environment, rational use of policy preferences and capital supervision tools can effectively reduce transaction risks. If you are considering selling your home with a mortgage, it is recommended to consult a professional real estate agent or financial advisor to ensure that the transaction goes smoothly.
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