NPA flat for sale
8 months ago
I want to buy a flat in Mumbai which is NPA with one bank. What are the precautions to be taken while buying the flat?
A.Dear client
If the property has had multiple owners in the past, it is best to obtain the Mutation Deed from the local government. To avoid future misunderstandings, try to obtain complete ownership facts of the property from the start. Share the records with a legal expert to ensure there are no encumbrances. In the event of an NPA property, potential buyers must investigate the availability of a house financing. Before purchasing an NPA property, you may get expert advice if necessar
If the property has had multiple owners in the past, it is best to obtain the Mutation Deed from the local government. To avoid future misunderstandings, try to obtain complete ownership facts of the property from the start. Share the records with a legal expert to ensure there are no encumbrances. In the event of an NPA property, potential buyers must investigate the availability of a house financing. Before purchasing an NPA property, you may get expert advice if necessar
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A.Dear Client,
Usually, the following precautions are taken while buying an NPA property from a Bank through auction. Visit the property before bidding for it. Physical inspection of the property can help reveal crucial details that may be significant for a prospective buyer. Check for dues against the property lying unpaid in the market that the previous owner had not paid before the bank seized the property. The bank may not be responsible for clearing them before auctioning the property, Banks generally offer a 10-15 percent discount owing to the problems associated with such properties. To understand what may have prompted the discount offered on the property in question. Check out the market price from the local authority, brokers and consultants of a similar property in the area can help draw clear comparisons. If the property had more than one owner in the past, it is advisable to extract the Mutation Deed from the municipal body. Try to get the complete ownership details of the property from the beginning to avoid any discrepancies in the future. Share the records with a legal expert to confirm that there are no encumbrances involved. In the case of an NPA property, the potential buyers must check the possibility of availing of a home loan. If required, you may seek an expert opinion before buying a NPA Property.
Usually, the following precautions are taken while buying an NPA property from a Bank through auction. Visit the property before bidding for it. Physical inspection of the property can help reveal crucial details that may be significant for a prospective buyer. Check for dues against the property lying unpaid in the market that the previous owner had not paid before the bank seized the property. The bank may not be responsible for clearing them before auctioning the property, Banks generally offer a 10-15 percent discount owing to the problems associated with such properties. To understand what may have prompted the discount offered on the property in question. Check out the market price from the local authority, brokers and consultants of a similar property in the area can help draw clear comparisons. If the property had more than one owner in the past, it is advisable to extract the Mutation Deed from the municipal body. Try to get the complete ownership details of the property from the beginning to avoid any discrepancies in the future. Share the records with a legal expert to confirm that there are no encumbrances involved. In the case of an NPA property, the potential buyers must check the possibility of availing of a home loan. If required, you may seek an expert opinion before buying a NPA Property.
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A.Dear Sir,
You may get in touch with local Advocate who is dealing with real-estate cases because in many cases there will be lot of problems in such NPA cases.
You may get in touch with local Advocate who is dealing with real-estate cases because in many cases there will be lot of problems in such NPA cases.
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