Buying back cash balance: how to call on a third party?

Published on : 27 December 20193 min reading time

There are a number of reasons why you may want to make a buyback. However, for financial reasons, it is impossible for you to carry out this operation. You can always save your property by buying back the balance from a third party.

The buyback in a nutshell

This is a financial transaction whereby a person intends to retain full ownership of a real estate or consumer property in joint ownership, through a third party, in the context of a marital separation, inheritance, etc. The person in question may take out a repurchase or credit consolidation in order to buy back the share of the spouse or siblings. This process offers you the privilege of becoming the sole owner of the undivided property. If you do not have the means to finance this acquisition yourself, you can proceed with a buyback by a third party. Apart from divorce and inheritance, this financial arrangement is also one of the most practical consumer credit buy-back solutions for becoming the sole owner of a consumer property.

Buying back or grouping together a balance by a third party

The heirs and spouses are not the only ones involved in a repurchase or consolidation of the balance by a third party. The third party may be a family member, a close relative or any other individual capable of paying the balance. In general, this solution is an ideal alternative for someone (heir or divorced) who wishes to keep the apartment or house but does not have enough funds to buy it back. For a grouping of the balance by a third party without incident or procedural defect, it is advisable to call upon the services of a notary or a broker. The latter will take care of all the documents and steps to be taken to draw up the credit repurchase or cash-settlement contract. He or she will help you to find the best offer for an undivided real estate loan.

Simulated buy-back of a loan, to compare several offers

Before contacting a notary and starting the steps to follow to obtain financing, carry out a simulated buyback to find out the cost of the transaction. This will allow you to know if the transaction is within your budget and meets your needs. The online simulation shows you everything you need to know to obtain the best credit formula for a cash payment group.

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