Legal Question in Banking Law in Pakistan
how and by whom the price of the land will be fixed, which is being mortgaged with a bank?
Asked on 10/26/09, 9:46 am
1 Answer from Attorneys
in fact fair market price is adjudged by the the bank property evaluators, by means of the property / real estate dealers of the local area, by getting the data or information of recent normal sales and purchase of the land of the adjoining areas. of course it is also discussed with owner of the land who offering to have the mortgage and reached with mutual consent.
Answered on 10/27/09, 1:56 am
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