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With seller and buyer understanding i have registered the property to buyer name, will the bank give loan to buyer in exchange of sale deed?
With seller and buyer understanding i have registered the property to buyer name, will the bank give loan to buyer in exchange of sale deed?
Related Questions
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PGN Property Management
Real Estate & Documentation Consultant with 21+ years of experience . Answered on July 20,2023We have an undivided ancestral property acquired from my grand father.My father is expired.Me,my brother and my mother have equal rights on that property as it is an ancestral property.We want to sell that property.My brother wants to give his share also to me but he is unable to come to india.He is a green card holder in USA.How we have to proceed to sale this property legally?
Follow the below steps to sell your ancestral property Obtain your father's death certificate Get the family tree certificate from revenue ...
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PGN Property Management
Real Estate & Documentation Consultant with 21+ years of experience .Can I terminate the property agreement after registration? What happens to the stamp duty, registration, TDS, and bank loan disbursed so far? How much penalty do I have to bear?
SALE AGREEMENT: One can cancel the sale agreement even after registration if vendor is not fulfilled the terms & ...
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PGN Property Management
Real Estate & Documentation Consultant with 21+ years of experience .Can my parents prepare and send a power of attorney from India, for purchasing a property in my name? For me to sign and send back to them? I live in the UK. And PoA is for loan purpose or for registration purpose?
No, that will not be a valid Power of Attorney (POA) Prepare a POA in India, send it to UK ...
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PGN Property Management
Real Estate & Documentation Consultant with 21+ years of experience . Answered on August 12,2022What is the procedure to buy a resale property?
Congratulations! you have made the decision to buy a resale property by investing your life’s savings. In the case of ...
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Shyamal Modi
Tax Advocate | Financial Advisor | Virtual CFO . Answered on February 28,2023I have sold house property in Gujrat and the buyer has taken bank loan.Bank has given two cheques one for sale deed value and other for extra work in house. How it will be shown in ITR?
The total amount of both cheques will be considered as your sale consideration.LTCG will be calculated as:Sale consideration - ...
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Subin VR
Chartered Accountant,FCA, DISA (ICAI) . Answered on February 28,2023I have sold house property in Gujrat and the buyer has taken bank loan.Bank has given two cheques one for sale deed value and other for extra work in house. How it will be shown in ITR?
If you have sold a house property in Gujarat and the buyer has taken a bank loan, and the ...
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PGN Property Management
Real Estate & Documentation Consultant with 21+ years of experience . Answered on July 31,2023As a seller, should i provide xerox copy of property documents to seller's bank for application of loan for bank to verify the documents?
Yes, Bank verifies the original documents and demands photocopy or soft copy of the following documentsParent deedsale deedEncumbrance certificate ...
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PGN Property Management
Real Estate & Documentation Consultant with 21+ years of experience . Answered on September 09,2023How do you check if a Loan is taken against Property? With what bank?
There are few ways to find out if a property has mortgage and with what bank. Before we answer ...
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PGN Property Management
Real Estate & Documentation Consultant with 21+ years of experience .I have lost the original sale deed. Can I obtain a home loan from a bank by submitting Xerox copy of sale deed?
No, Cannot obtain a home loan by submitting a photocopy of sale deed and photocopy of other supporting documents like ...
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PGN Property Management
Real Estate & Documentation Consultant with 21+ years of experience .Who will retain original copies of sale deed in case of multiple buyers and multiple sellers?
Buyer retains the original copy of sale deed In the case of multiple buyers, a primary buyer should be chosen ...
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PGN Property Management
Real Estate & Documentation Consultant with 21+ years of experience .I am selling my house to a person who is taking a home loan from Bank. He claims that I have to register the house in his name and give all the documents to the bank, and only then would I get the amount after 2 days. Can I believe him?
No. If a buyer is purchasing a property using home loan, the bank representative handover the full and final settlement ...
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PGN Property Management
Real Estate & Documentation Consultant with 21+ years of experience . Answered on December 02,2022Seller has bank loan of his building. I am buyer, he is asking me pay upfront 20% so that he can close the loan and get original documents for lawyer verification. What I am thinking as a first step get legal report from the lawyer then make sale agreement 200 e stamp then give cheque of 20 laks. Is this correct?
Yes, your understanding is correct If the original documents are deposited in bank, just the photocopy of documents are sufficient ...
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PGN Property Management
Real Estate & Documentation Consultant with 21+ years of experience . Answered on July 13,2023Does bank check for legal verification of resale flat before sale agreement between buyer and seller or after the sale agreement?
Most of the banks have their own legal team to check feasibility of loan processing. Bank need following documents to ...
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