Therefore, this should be calculated well to get a cheap home purchase loan. Before lending, the banks make a Credit bureau request to protect themselves from excessive credit risks but also the possibility to take out a loan directly from private investors.
No credit for house purchase (contract law)
Dear advice seekers, Thank you for your question, which I will answer based on your information as follows: Whether you are forced to take over the building depends primarily on whether the rental agreement concluded in 2003 between you and the house owner came into force. For a sales contract, through which the property owner undertakes to transfer ownership and the other business partner to take over the property, a notarized certification is required in accordance with Section 311b (1) sentence 1 BGB.
After you concluded a purchase contract in 2003, that you would acquire the house you moved into in 2009 after payment of the remaining purchase price and the home owner committed himself in this purchase contract to the ownership of the property to you and thus also to the house you lived in to pass, a certification according to financy company was also required.
Conclude the contract
According to your information, this certification is available so that an effective purchase contract has been concluded between you and the house owner. Because I have no further information here to speak against an effective conclusion of the contract (for example, this could be the insignificant case that one of the contracting parties was unable to act at the time the contract was concluded, the legal transaction would be null and void under 105 BGB) I assume.
Because the principle of adhering to effective contracts applies after the contract has been concluded, you are now also obliged to pay the remaining purchase price and to transfer the ownership of the house to you after this contract has been concluded. As a debtor for a cash payment, you usually bear the risk of loss because you are no longer able to make payments due to exhausted credit lines.
However, this means that your payment problems are no reason for you to withdraw from this 2003 employment contract and that you are still subject to this employment contract. I regret that I was unable to provide you with any good information here, but I hope that I have given you a first impression and will continue to assist you in the future primarily in connection with the function of free demand.
However, so that you can check exactly whether there are no possibilities for you to be released from the obligation to fulfill this contract, it is necessary to know the complete notarial contract.