Sourcing for and securing funding for real estate could be a serious challenge depending on the terms and conditions of the loan. This scenario makes repayment burdensome and costly for most investors who have a mortgage on their property. An investor who has a mortgage should realise that by virtue of the mortgage agreement, he or she is no longer the owner of the property. You should also realise that it is unethical and illegal to sell the property without disclosing to the buyer that there is a mortgage on the property. Remember, you could be charged with fraud if you do not disclose all the legal interests on a property or sell a property that you do not have the right to sell.

Source: Punch July 02, 2019 02:03 UTC