Sell New Flat Under Home Loan

Q: I want to sell new flat which one under home loan with 12 lakh then how much amount will pay to bankers..only pay outstanding principle amount or outstanding amount with interest...

Nitin Sutar, Navi Mumbai

15th August 2014

Home Loan in Mumbai

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Hi,
First and foremost you have to identify buyer and then if he agrees you can shift the loan to him.. check process for the same with bank.

Arup rajan, Mumbai

19th August 2014

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Thanks u r reply.

Nitin Sutar, Navi Mumbai

21st August 2014

HI,
Yes, you can sell your property which is under mortgage to bank. If buyer also needs a housing loan from bank to buy the property. This process is called SELLER BT. In this case the same bank or the other bank will transfer the amount to the seller. If the buyer has sufficient amount to buy the property then seller can close the loan from this amount but the process is bit complex .... you have to find a buyer who will either take over your loan or pay you up front so that you can get a NOC from the Bank...

Ashish Sharma, Mumbai

19th August 2014

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