Bank loan

RC Gayatri (Querist) 13 May 2013 This query is : Resolved
Dear Sir,

I am purchasing a new property for which I went for a bank loan. Bank people gave me the loan amount I applied for (80% of the payment which I am making for purchase). my Loan provider is 'Dewan Housing finance limited'

Does this guarantee me of all the legal security for the property which I am purchasing or Do I have to do anything else ?

Please advice me as I don't have much of knowledge on legal verifications etc

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ajay sethi (Expert) 13 May 2013
before sanctioning loan bank does due diligence . the bank must have satisfied it self that title of builder is clear and marketable . if you have any doubts contact a local lawyer

Raj Kumar Makkad (Expert) 13 May 2013
You need to obtain a detailed search report from a local lawyer because the satisfaction of banker may not be a consoling point for you.

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