Legal Question in Real Estate Law in India
Selling property bought on house loan
I have bought a property where I have paid 25 % + registration cost. Rest of the amount is bank loan. Now I want to sell the property and I don�t have the full amount to be paid to Bank to regain registration. Can u suggest me the way out to sell it.
4 Answers from Attorneys
Re: Selling property bought on house loan
If buyer is planning to avail bank loan for purchasing the property from you, you may explore possibility of transfer of loan
Re: Selling property bought on house loan
Since you have paid the registration costs, I presume you have already registered the sale deed, and the original sale deed may be in bank's possession from whom you took the loan.
The best way would be to take bank's permission to resell the property, find a buyer, and sell same, where the buyer will the bank's dues and the balance to you out of the total consideration.
Re: Selling property bought on house loan
Please accertain whether you have purchased the property in question. if so then you identify any purchaser who settle your bank loan and get released your original sale deed and also pay balance amount out of total consideration to you.
Re: Selling property bought on house loan
Your question is not clear as to whether you hold a sale deed or not. Kindly, be more specific.
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