How to sell my flat in bangalore?
December 10th, 2009
I have a apartment in Bangalore and purchased it on loan from ICICI bank. So my questions if i plan to sell this how will the payment be made if the buyer also gets the loan from diff bank (HDFC or others) because ICICI will not give the original documents until we pay and without payment HDFC will not give loan to the buyer. Can anyone tell me how it works.
Thanks,
Suresh
Sell and Rent Back
if u will sell ur flat where will u live………on streets…ha ha ha ha
call your BANK they will explain you very well, here in yahoo answer it is not possible because we do not know all the details like all the terms and conditions.
you don’t worry.
fix a buyer. give him the xerox copies all your documents pertaining to your apartment.
get a letter from the ICICI bank regarding the outstanding loan amount in respect of the apartment. give that letter to proposed buyer to use it for his lender (HDFC or others).
after sanctioning the loan the lender (HDFC or others) will issue cheque for the outstanding loan to ICICI bank and collect the original document from them. the difference in amount will be paid to you.
Good luck