Factors Taken Into Consideration Before Buying Mortgaged Property

If the flat I am going to buy is mortgaged by builder along with 10 other flats with a bank and I have signed an sale agreement after the mortgage is done by builder then what are the documents we need to ask the builder to buy the flat ? If a no dues NOC is received and mortgage is removed from EC then is it ok to go ahead or I need to ask for any other documents also ? The original ownership deeds of land on which apartment is build is with bank and since other 10 flats are still in banks mortgage bank is not going to give back the originals. Only NOC for one flat it will give.Is it ok?
Posted 2 years ago  | 
Banking,Property/Real Estate
Banking Property/Real Estate

1 Answer(s)

Rashi Gahlaut

Dear Sir/Madam, before going to buy the flat or any property you have to verify and to get legal opinion on such documents of the property from the property lawyer, it is very safe. In your case, you have to take atleast attested copies of the all the documents of the said flat from the bank through your builder and verified it, in respect of you query you have to take from the builder CC and OC i.e., Completion Certificate and Occupation Certificate.

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