Indian Real Estate Forum - www.indianrealestateforum.com - View Single Post - Question on Selling India House & Repatriation

vinodmishra · 07-01-08

hi,
well if u have to sell the flat and a loan is outstanding on the said flat, u can tranfer the loan, with approval from bank, to the intending purchasers account.
for doing this banks charge a fees, which may be 2 to 4 % of the oustanding amount.
but onething is sure that u wont have to part with the profits that u will gain from the sale of property, banks cant claim share of profit other than what is theirs like the outstaning loan amount, intrest calculated and with some legal fees.
hope this helps u.
Vinod

07-01-08	#2
vinodmishra New Member Join Date: Jan 2008 Location: kalyan Posts: 20 Thanks: 0 Thanked 0 Times in 0 Posts	resale hi, well if u have to sell the flat and a loan is outstanding on the said flat, u can tranfer the loan, with approval from bank, to the intending purchasers account. for doing this banks charge a fees, which may be 2 to 4 % of the oustanding amount. but onething is sure that u wont have to part with the profits that u will gain from the sale of property, banks cant claim share of profit other than what is theirs like the outstaning loan amount, intrest calculated and with some legal fees. hope this helps u. Vinod Last edited by vinodmishra; 07-01-08 at 02:34 PM.