(PLO)- A bank has just put up for sale nearly 400 properties as security for loans, most of which are real estate.
In the context of the risk of bad debt increasing, many banks aggressively sell loans with discounts sometimes up to 70%-85%. However, the problem of finding buyers is not simple in this difficult economic time.
Banks aggressively reduce debt prices
Recently, Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) announced a list of collateral assets that need to be handled to recover debts. The total value of collateral assets to be handled is about VND 8,000 billion.
Specifically, this bank published a list of nearly 400 secured assets, mainly real estate, located in many provinces and cities such as Hung Yen, Hanoi, Quang Nam, Khanh Hoa, Da Nang, and Ho Chi Minh City. Ho Chi Minh City, Kien Giang … including many tourism real estate.
For example, the land use right at the project of Hoi An marine sport eco-tourism area (Quang Nam) has a starting price of nearly VND 62 billion, or the Fenshui resort (Binh Thuan) is for sale with a starting price of nearly 42 billion VND. , 5 billion dong.
In the group of real estate for sale, there are also a series of 4-5 star hotels, homestays and villas. Including a 5-star hotel in Da Nang, with 236 rooms, offered for sale for 600 billion VND. Particularly in Hoi An, this bank sells nearly 60 different hotels and real estate with prices ranging from a few dozen to several hundred billion dong.
| Banks sell collateral as a lot of bargain real estate. Illustration: Tieu MINH |
Previously, VietinBank also announced the seventh sale of a debt of a company in District 12. This debt plus principal and interest is VND 46.5 billion, but the bank offered a starting price of only nearly 6,500 USD. 7 billion, but not sure to sell.
Not only VietinBank, but recently many other banks are also aggressively selling real estate as collateral for customer loans to handle debt recovery. For example, Sacombank announced the sale of a series of bad debts worth hundreds of billions of dong, including products of the Xi Grand Court apartment project in District 10, Ho Chi Minh City. Similarly, Vietcombank also announced that it will continue to sell a real estate, My Khe resort in Tinh Khe commune (Quang Ngai).
Selling collateral is not a priority
Representatives of some banks explained the sale, liquidation and sale of collateral for customer loans in order to handle loan recovery. The business situation is difficult, orders decrease … causing bad debt to increase.
To remove difficulties for customers, banks often spend a certain period of time, maybe 3-6 months, for borrowers to find a way to sell their property. In this way, after paying all the interest to the bank, customers still have a balance.
Explaining that there are many debts and collateral assets that have been unsuccessfully auctioned by the bank many times, Mr. Nguyen Dinh Tung, General Director of OCB, analyzed: “The quick or slow sale of assets depends on many factors. The first is the liquidity of that commodity. The second is the supply – demand of the market. When the market demand is high, selling is always easier. In addition, the psychology of the buyer must be taken into account.
Currently, transactions are frozen, people expect real estate prices to drop further, so consider carefully.”
In the current context, some banks are looking for ways to stimulate demand to quickly sell debts. However, the leaders of OCB said that the handling of the sale of assets is the last step. Because among the customers with bad debt, there are people who because of risky business, real estate speculation, making incorrect investment decisions … that cause default. But there are also many customers who have difficulties due to the impact of many objective factors, due to decreased orders, weak demand …
“So our priority solution is to remove the business as soon as they have financial difficulties, not wait until they “die” and then sell the property” – Mr. Tung emphasized. .
Selling debt is harder than selling collateral
Mr. Duong Anh Vu, a banking and finance expert, analyzes: Each bank has different handling of collateral, including real estate. For debt sale, the debt purchaser inherits the lender’s rights (ie the right to collect debt), but the property must still be handled in accordance with legal procedures. Depending on the type of assets to secure the debt, the processing process is also different, there are assets that are easy to handle and there are assets that are difficult to handle, not to mention the assets to secure the outstanding debt. legal dispute.
Therefore, selling debt is always more difficult than selling collateral. Moreover, the target audience of debt buyers is also narrower than that of collateral buyers because not everyone has debt collection skills and the ability to collect debts.
As for the sale of collateral, that is, the bank has been allowed to seize the asset or have the court’s judgment so that the bank has the right to auction and recover the debt. So anyone can buy, as long as there is money. In other words, it’s always easier to find a buyer at an auction of a mortgage with full legal paperwork and no dispute than it is to sell a debt.
THUY LINH
