I am planning to buy resale flat at Ravet location without any agent. I know the owner and he has quoted the price. Am OK with it. Flat has existing loan. Need to understand step by step procedure. If I understand correctly, this is how it will go:
Final the price of flat I go to my bank with the price and submit my income document to get 80% loan sanction. with the sanction letter. Check with owner for all receipts, if he has paid everything (Stamp Duty, registration, MSEB, society NOC letter) I keep the down payment amount cheque ready and my bank will help 80% loan amount cheque on my owners name. We go to PCMC office to transfer. Agreement of transfer. same time I will handover the DP cheque to owner and all cheque numbers gets mentioned in the agreement. I am sure, agent at PCMC office will help all required docs to transfer the property to my name. I will take the original transfer docs to my bank to keep it with them. (Transfer agreement, Index II etc). Once this is done, I will proceed to transfer MESB and property tax on my name with the help of copy of original docs.
Is this correct?
Please help me with correct steps and if this is how it works. Any other charges that I have to pay? Since stamp duty, registration and MSSEB already been paid by owner at the time of buying this new property from builder? What else to be considered?