How to sell a mortgaged flat - A practical guide for property owners

Selling a mortgaged flat can be a challenge, but with the right knowledge it can be done effectively and smoothly. It is worth noting that it is always advisable to consult a real estate advisor for an individual analysis of the sale process before taking any steps.

1. Analysis of the financial situation:

Before you start the selling process, it is important to understand your financial situation thoroughly. You should check how much of the loan you have left to repay, whether there are any early repayment charges, and whether there are any other liabilities associated with the property.

2. cooperation with an estate agency

The first step in selling a flat is to assess the property. Real estate agents from the office will carry out a thorough market analysis, comparing similar flats in the area in order to establish a competitive selling price. A professional appraisal will avoid overpricing, which could delay the sale process, and underpricing, which would negatively affect the owner's profit. In addition, at the meeting we will analyse the documents related to the flat and prepare a list of formalities needed for the sale transaction.

Step 3: Marketing and advertising

The estate agent will be responsible for the effective marketing of the flat. This means using various channels, such as property portals, social media, office websites and traditional forms of advertising to reach as many potential buyers as possible. By giving the property wide exposure, the chances of finding the right client increase significantly.

Step 4: Preparing the transaction

Once the client has been found and the terms of cooperation agreed, a certificate from the bank must be prepared in addition to the standard documents. This document will show the amount of the loan remaining to be repaid, together with a technical account and a promise to remove the mortgage from the KW of the flat upon repayment of the obligation.

Step 5: Notarial deed

The notary will include the outstanding amount in the sales contract and the buyer will make two transfers - one to you and the other to repay the loan.

Step 6:

The last formality related to the sale of the flat is the mazal letter from the bank. This is a document containing consent to the removal of the mortgage from the land and mortgage register. Once it has been obtained from the bank, it should be given to the new owner of the flat.

If you are looking for expert advice before selling your flat - please do not hesitate to contact our office.

Rafał Radomski
+48 783 187 968
biuro@radomskinieruchmosci.pl