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Home > Forum > Hyderabad > Home Loan > Can I sell flat with home loan

Can I sell flat with home loan

Q: I have on-going loan with ICICI bank, is it possible to sale the flat and then pay money back to bank?

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Replies (2)
1
Hello Dilip, you can sale the property through normal sale procedure, since it is under loan. In this case if the buyer wish to take home loan from the same bank from where you have taken than there is a process called book transfer. But if the buyer is planning to take home loan from any other bank than fund transfer process will be applicable by tripartite agreement between bank, you and the buyer.

If the buyer is paying the total amount than both of you need to sign sale agreement and you have to provide all the legal and needful documents to new buyer.
Rakesh


2
Yes you can sell your property which is under mortgage to bank. If the buyer has sufficient amount to buy the property then seller can close the loan from this amount. Otherwise if buyer needs a housing loan from bank to buy the property he/ she can continue.
Jignesh Kumar


3

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