Lost your job, and your home as well? – Overcoming financial difficulties

Sudden unemployment brings with it considerable financial difficulties. For property owners still repaying their mortgage, this may threaten their dream of owning their own home. How can you keep your apartment or house in the event of becoming unemployed? And when is a quick sale required?

When selling real estate, many pitfalls lurk that diminish success.

Approach the sale professionally. We will help you. Contact us.

 

If an employer dismisses an employee owing to insolvency or for other reasons, the latter must find a solution with their financing partner in good time. The sooner the mortgage holder contacts their bank, the quicker the financing can be adjusted to the situation. As a property expert, an estate agent can then additionally support the property owner.

Reduce, defer or suspend monthly repayments

Owners who have arranged in their mortgage agreement that monthly repayments can be suspended for a certain period will be able to get by financially for a few months. During this time, they can concentrate fully on finding new employment.

If no such contractual agreement is in place, they can check with their financing partner whether the agreed monthly repayment rate can be reduced. To this end, some agreements contain a financial corridor for reducing or increasing mortgage repayments for a certain period. However, the accruing interest payments are not affected by this.

If neither solution is available, owners can try to negotiate a payment deferment for a few months with their bank. This would mean a brief period in which no payments would need to be made. However, the financing partner would then charge deferment interest. Once the agreed deferment period lapses, mortgage repayments have to be resumed.

 Selling your house or apartment

If you are unable to come to an agreement with your bank or if the period of the temporary financial arrangement has expired, the only solution remaining in most cases is the sale of your property. This should be done quickly and efficiently. After all, the proceeds of the sale must cover the mortgage repayment and fund the new home and house move.

This requires a professional valuation so that owners achieve a fair market price. Inexperienced sellers should not underestimate the process of selling a home. Mistakes often creep in that can impact the profit and the entire sales process. For example, if the creditworthiness of the potential buyer isn’t checked and the seller thereby fails to recognise that the buyer cannot afford the property, the sale may fall through. This can lead to further financial losses for the seller.

It also costs additional time and doesn’t improve the repayment problem with the bank. This is why experts recommend commissioning a local, professional estate agent. They will be familiar with all the necessary legal matters. In addition, the estate agent will be an experienced marketing and sales expert who can filter out potential buyers with real purchasing power from among the pool of interested parties.

Do you have to sell your property quickly? Then get in touch with us! We are happy to advise you.

 

Note
In this text, the generic masculine is used for better readability. Feminine and other gender identities are explicitly included to the extent necessary for the statement.

Disclaimer: This article does not constitute tax or legal advice in individual cases. Please consult a solicitor and/or accountant to clarify the circumstances of your specific case.

Photo: © BravissimoS/Depositphotos.com

Bewerten Sie jetzt Ihre Immobilie!

Kostenfrei | Unverbindlich

Mehr Planungssicherheit beim Hausbau – Solardeckel wird gestrichen

Bauherren, die eine Photovoltaik-Anlage installieren wollen, erhalten auch künftig eine Einspeisevergütung für Solarstrom, der ins Netz eingespeist wird. Der Bundestag hat am 18.6.2020 den Solardeckel im Erneuerbare-Energien-Gesetz (EEG) gekippt. Die Fördergrenze bei 52 Gigawatt installierter […]

Read more

Möbliertes Wohnen auf Zeit

Sie haben einen neuen Arbeitsplatz in einer anderen Stadt bekommen. Die alte Immobilie ist bereits verkauft, aber die Fertigstellung der neuen Immobilie verzögert sich. Was nun? Möbliertes Wohnen auf Zeit könnte hier die Lösung sein. […]

Read more

Wie beschäftige ich meine Kinder im Homeoffice

Im Homeoffice zu arbeiten ist nicht immer einfach. Nicht nur für die Erwachsenen, sondern auch für die Kinder. Was tun, wenn die Kleinen nicht zur Kita oder zur Schule gehen können? Wir haben einige Beispiele […]

Read more

OUR TEAM

with passion for service

Mathilde Allemand

Office ADEN IMMOBILIEN
Berlin Wilmersdorf

Junior Project Manager

French, German, English +49 30 88 70 24 08 mathilde.allemand@aden-immo.com

Michael Bautz

Office ADEN IMMOBILIEN
Berlin Friedrichshain

Real Estate Agent

German, English +49 30 29 77 87 80 michael.bautz@aden-immo.com

Isabelle Goncalves

Office ADEN IMMOBILIEN
Berlin Wilmersdorf

Real Estate Agent

French, German, English +49 30 887 024 07 isabelle.goncalves@aden-immo.com
Lars Drewes

Lars Drewes

Office ADEN IMMOBILIEN
Berlin Wilmersdorf

Head of Sales

German, English +49 30 23 633 533 lars.drewes@aden-immo.com

Robina Henicke

Office ADEN IMMOBILIEN
Berlin Friedrichshain

Real Estate Agent

German, English +49 30 29 77 87 80 robina.henicke@aden-immo.com

Florence Holz

Office ADEN IMMOBILIER
Paris Courcelles

Client Management

French, German, English +33 1 56 33 70 70 florence.holz@aden-immo.com

Annabel Huard

Office ADEN IMMOBILIEN
Berlin Wilmersdorf

Senior Project Manager

French, German, English +49 30 88 70 24 08 annabel.huard@aden-immo.com

Udo Lewin

Office ADEN INVEST
Berlin Wilmersdorf

Real Estate Agent

German, English +49 30 23 633 533 udo.lewin@aden-immo.com

Olivier Montero

Office ADEN IMMOBILIEN
Berlin Friedrichshain

Real Estate Agent

French, German, English +49 30 29 77 87 80 olivier.montero@aden-immo.com

David Nguyen

Office ADEN IMMOBILIER
Paris Courcelles

Managing Director

French, English +33 1 56 33 70 70 david.nguyen@aden-immo.com

Hélène Salvanes

Office ADEN IMMOBILIEN
Berlin Wilmersdorf

Marketing & Business Development

French, English, German +49 30 88 70 24 08 helene.salvanes@aden-immo.com
Porträt Arnaud Schott_quadratisch

Arnaud Schott

Office ADEN INVEST
Berlin Wilmersdorf

Managing Director

French, English, German +49 30 23 633 533 arnaud.schott@aden-invest.com

Cihan Selmo

Office ADEN IMMOBILIEN
Berlin Charlottenburg

Real Estate Agent

German, English, Turkish +49 30 220 66 11 77 cihan.selmo@aden-immo.com

Ulrike Siebert

Office ADEN IMMOBILIEN
Berlin Wilmersdorf

Marketing Manager

German, English +49 30 88 70 24 08 ulrike.siebert@aden-immo.com

Julian Strehblow

Office ADEN IMMOBILIEN
Berlin Charlottenburg

Real Estate Agent

German, English +49 30 220 66 11 77 julian.strehblow@aden-immo.com

Jeannette Zentel-Schertlin

Office ADEN IMMOBILIEN
Berlin Charlottenburg

Real Estate Agent

German, English, Spanish +49 30 220 66 11 77 jeannette.zentel-schertlin@aden-immo.com