Bank Auction Property is a good news for people who would like to buy a property at a cheaper rate. Govt and RBI have put a huge amount of pressure on banks to clean their books. Therefore, you must have observed mega auction of properties conducted by almost all the banks. At the same time, let me be honest that bank auction property is high risk investment. You have to be extra cautious and vigilant while participating in such auctions. You may check my post, Complete Guide to Bank Auction Process for more details. Recently, the Govt of India passed The Enforcement of Security Interest and ... Read More
Register Under Construction Property for Home Loan
"Register Under Construction Property to avail Home Loan," a Bank Employee told to one of my clients. My client got confused. She was under a notion that under construction property can only be registered at the time of possession. Off late, banks are insisting borrowers to Register Under Construction Property before possession if you are availing a Home Loan. Though it is mandatory to Register Under Construction Property under subvention schemes, it is at the discretion of the bank. From a buyer's perspective, it's a mixed bag. Depending on case to case basis, to Register Under Construction ... Read More
Complete Guide to Bank Auction Process
Bank Auction is bit tedious process. In my previous post, Bank Auctions - The Cheaper and Smarter way to buy your dream house i discussed some of the do's and don'ts related to Bank Auction. In this post, i will discuss the Bank Auction Process in detail. Currently Bank Auctions are hijacked by some agents. Agents charge hefty commission in this whole process. I never suggest to go through agents as the probability of cheating is high through agents. Specially in Mumbai, all my clients prefer to buy bank auction property through agent and willing to pay x% through cash during Bank Auction ... Read More
Bank Auctions – The Cheaper & Smarter Way to Buy Your Dream House
Currently Economy is going through very Bad Phase...High EMI's, No Salary Hike & Fear of Job Loss are giving jitters to majority of Salaried Class...By the way, i am also part of this Stressed, Depressed but still well Dressed lot :) but fortunately things are still not that bad for many. Every phase is blessing in disguise for some irrespective its Good or Bad, i mean Bad phase is also beneficial or profitable for some lucky ones...Why, i will explain...In this uncertain environment, Specially Salaried class find it most difficult to serve their Home Loan EMI's, which form a major chunk ... Read More