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QUESTION

is bank auction property is legal for purchase or is there hidden charges

By Rajesh Shinde   a year ago   Purchase 3305 views
 
 
 
 
 
 
 
ANSWERS (3)
 
 
 
 
Amit Chopra a year ago
It is legal but please check previous owners title and that the bank has followed the proper procedure before the auction, u can ask for disclosure and declaration from bank that the auction is being held at their own risk and that if any discrepancy is found full refund and penalty shall be paid by bank...
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Bhargav Yerneni a year ago
The advantages of buying the properties through Bank Auctions / Foreclosures are furnished here under.

1.PRICE ADVANTAGE: At least 25 % cheaper than market price.

2.LEGALLY SAFE: Since Banks / Financial Institutions have given loan after verification of all the legal aspects only, these are 95 % legally safe.

3.CREDIBILITY OF SELLER: You are buying from a Bank / Financial institution, which is authorized by Govt of India to sell such properties.

4.TIME FRAME: Entire transaction will be over in less than two months period. Ownership in one month.

5.TRANSPARENCY: 100 % transparent transaction.

6.PROBABILITY: 90% chances of winning in the Bank Auction.

The following sites will provide latest Bank Auction property details.

Free sites : Tenders.gov.in & www.foreclosureindia.com ,

Paid sites : Bankdrt.com & NPAsource.com

Yerneni Bhargav
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manasi very good analysis.
a year ago
 
 
 
Sandeep thanks for explaining very informative
a year ago
 
 
 
Swapna I am also interested in same type of property in thane. Can i negotiate the price or only price declared by bank should be paid.
a year ago
 
 
 
 
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Paramjeet Singh a year ago
the auction propeties is legal for purchase and thier is no hidden charges for that...so if you want to purchase you can contact bank or the authority development board.
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Bhavik Shah Can we get loan from banks for such kind of property?
a year ago
 
 
 
Parvez Fatkure i want to buy auction propery ifu have plz contact me.
8 months ago
 
 
 
 
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