Hi ,

i am going to purchase a flat in main crossing society in GHAZIABAD. This flat is is in resell and still don't have registry and seller having loan and currently paying his EMI to bank. i have already paid the Black money to seller , and seller issued the cancellation letter to crossing .according to cancellation letter that the amount should be return to seller as seller paid to crossing at time of buying that flat and allocate this same flat to me.

i have given the 10% of booking amount to crossing and now i am taking loan from some bank to pay renaming white money to crossing ..

As there is already a loan going on this same Flat-property as seller have taken loan from bank when he purchased that flat.
Now crossing is saying to me that they made a fresh allotment of flat at my name so bank will not have any objection to issue the loan to me
---for that i am agree .


crossing have allotted this flat on my name as i have already paid the booking amount and they have issued the allotment letter to me.
now i am worried about on one point that now there will be two loan on this same property from two different-2 banks ,now from my point of view seller should pay and close his loan .

i talked to crossing regarding this , they are saying when I'll pay all white money to crossing then crossing will close the previous loan of seller and pay to seller the remaining amount of EMI 's which seller paid to bank.

can some one tell me who have same case . what is the procedure of crossing to sell a flat in resell which already loan.


Please reply soon as i have very less time... on this same property from two different-2 banks ,now from my point of view seller should pay and close his loan .

i talked to crossing regarding this , they are saying when I'll pay all white money to crossing then crossing will close the previous loan of seller and pay to seller the remaining amount of EMI 's which seller paid to bank.

can some one tell me who have same case . what is the procedure of crossing to sell a flat in resell which already loan.


Please reply soon as i have very less time... on this same property from two different-2 banks ,now from my point of view seller should pay and close his loan .

i talked to crossing regarding this , they are saying when I'll pay all white money to crossing then crossing will close the previous loan of seller and pay to seller the remaining amount of EMI 's which seller paid to bank.

can some one tell me who have same case . what is the procedure of crossing to sell a flat in resell which already loan.


Please reply soon as i have very less time... on this same property from two different-2 banks ,now from my point of view seller should pay and close his loan .

i talked to crossing regarding this , they are saying when I'll pay all white money to crossing then crossing will close the previous loan of seller and pay to seller the remaining amount of EMI 's which seller paid to bank.

can some one tell me who have same case . what is the procedure of crossing to sell a flat in resell which already loan.


Please reply soon as i have very less time...
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  • simple case of transfer property....but in all in these cases first new party like ypu will got the loan basis of transfer papers, then from the money which you received from bank, when you handover to seller, he will pay full amt to his bank to complete the loan, then bank return his home papers, then you need to submit those papers also to your bank...
    CommentQuote
  • resale price?

    Hi,

    Would you mind telling the resale price? Also Main crossing has handed over the flat in 2011 and there was certain penalty on the people who did not register the flat. Have you or seller done that sort of payment to builder?
    CommentQuote
  • Is it really possible?

    I think it happens opposite. New bank will not disburse until it gets the original of property. That means the old guy has to first clear/transfer the loan, only then new guy's loan will disburse.


    Originally Posted by vikasg03
    simple case of transfer property....but in all in these cases first new party like ypu will got the loan basis of transfer papers, then from the money which you received from bank, when you handover to seller, he will pay full amt to his bank to complete the loan, then bank return his home papers, then you need to submit those papers also to your bank...
    CommentQuote
  • I think you should force the buyer party to use the black amount to pay their loan so that the original file could come quickly. I know banks like LICHFL may take upto 1 month in this.

    Since you were not told about loan initially, it is their fault. Hence they are responsible for converting black to white and pay loan.

    Other option will be to take loan from same bank so that loan can get transfer.

    If you ask me, I would apply for loan in 3 banks at the same time. It takes 5K per bank to get loan approval. And once approval comes, choose the one u like.

    Banks have a lot of if and buts at the last step these days. Better avoid risk.

    Originally Posted by vijayvcc
    Hi ,

    i am going to purchase a flat in main crossing society in GHAZIABAD. This flat is is in resell and still don't have registry and seller having loan and currently paying his EMI to bank. i have already paid the Black money to seller , and seller issued the cancellation letter to crossing .according to cancellation letter that the amount should be return to seller as seller paid to crossing at time of buying that flat and allocate this same flat to me.

    i have given the 10% of booking amount to crossing and now i am taking loan from some bank to pay renaming white money to crossing ..

    As there is already a loan going on this same Flat-property as seller have taken loan from bank when he purchased that flat.
    Now crossing is saying to me that they made a fresh allotment of flat at my name so bank will not have any objection to issue the loan to me
    ---for that i am agree .


    crossing have allotted this flat on my name as i have already paid the booking amount and they have issued the allotment letter to me.
    now i am worried about on one point that now there will be two loan on this same property from two different-2 banks ,now from my point of view seller should pay and close his loan .

    i talked to crossing regarding this , they are saying when I'll pay all white money to crossing then crossing will close the previous loan of seller and pay to seller the remaining amount of EMI 's which seller paid to bank.

    can some one tell me who have same case . what is the procedure of crossing to sell a flat in resell which already loan.


    Please reply soon as i have very less time...
    CommentQuote