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| Buying Thinking of investing in Indian Real Estate but confused. Post your general queries here! Any questions related to the buying process? (Note: Do not create any threads on real estate developers or their projects.) |
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08-10-09
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#1 |
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New Member
Join Date: Aug 2009
Posts: 34
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Buy Property on Loan for Investment
Is it okay to buy a property on housing loan for investment purpose? Since we are likely to sell it of before the loan amount being paid to the bank, what could be the legal and financial hassles? Even if the property appreciates still I think it would a trouble to at the time of selling the property. Last edited by umesh_jain; 10-10-09 at 02:21 AM. Reason: wrong typing |
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24-12-09
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#2 |
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New Member
Join Date: Dec 2009
Posts: 1
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Now a days every where it is corrupted 2day itself one of the bank person told me that if the builder pays him some money hewill get the legal formalities through for the builder and he also said that never beleive them as most of them think that purchasing a house through loan is safe.it is not it might cost you u 1% of ur property value for paying lawyer fees.kindly consult a lawyer for legal approval.pls
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