Buying NPA PROPERTY IN THANE

Dear Sir, If you are strong enough to return the possession then purchase it and be aware that you are also purchasing the litigation along with property. Please mark “LIKE” if satisfied by my answer.

whenever the owner will comes out from the jail then he will again challenge the sale of property so it will better to avoid to buy this property

Investors need to be aware of risks while buying repossessed properties being sold by banks. Buyers should remember that a bank's claim on a property put up for auction is restricted to the outstanding loans against it The bank in question will not take any responsibility should any issues arise with the property in future. Here are some things you must do before buying a non-performing asset: Site visit: Visit the property before bidding for it. An inspection of the property can help to reveal crucial details that may be significant for a prospective buyer. Ascertain the reason for discount: Look out for loopholes to understand the possible reasons of a discount offered for the property in question. Banks generally offer a 10 to 15 per cent discount owing to the problems associated with such properties. Market value: Check with the local authority, brokers and property consultants to determine the market price of the property in question. The market price of a similar property in the area can be helpful to make a comparison. Payment dues: Ensure that there are no unpaid electricity bills and society dues associated with the property. Mutation deed: Check municipal and tax records to ascertain if the property had a sole owner. If the property had more than one owner in the past, it is advisable to extract the Mutation Deed from the municipal body. Possibility of loan: Check if you can get a loan on the property. This can help to establish the property’s credibility.

1. you should avoid such property, 2. in addition to the loan, it may be mortgaged to some private person also,

It is Very risky and unwarranted act as you stand nowhere as the Banks always have the first lien on the property kept as Mortgage with any bank. Make sure that property is free of all encimberances prior to making of the Sale price to be on the safer side. Please give me Rank Five and follow me after reviewing my resume and book a consultation for further discussion and explanation if required.

Dear Client, Taking NPA property is lot of challenge. Need to take indemnity from the agency before going any further final decision