Home loan
parag
(Querist) 12 July 2011
This query is : Resolved
I am Parag.
I have booked one Flat which is under construction.I have applied loan at SBI.My builder have submitted all papers regarding loan.
Loan have been sanctioned by Bank after getting Title clearance from Lawyer and all other formalities.
Bank officer oversighted Title clearance report given by lawyer is that given subject to submission of Village form No.6A and Village form no. 7/12 on farmer name(Actually as per lawyer of bank it must be on Builder/developer name)as well as temporary mutation entry document submitted by Builder.
My first cheque of Loan have been disbured, which i gave to Builder.
Now i have made Sale Deed from Builder and also get Index II copy.
NOw if i have to get second cheque from SBI i have to mortgae my sale deed and Index II copy which is already with me.
But bank did not go for mortgage unless & until i have submitted all documents written in Title clearance.
I talk with SBI manager that why title clearane report is also not given to me and why first cheque has been sactioned of home loan wihtout looking title clearance report.They didin't answer.
Now what should i do
Builde is ready to give papers regarding to Title clearance but he demanded atleast 4to5 months time for getting from village panchayat office.But he is demanding Money for stagewise construction he made?
should i made any aggrement with bank that i will submit paper within 4-5 months as soon as i get it but bank will meanwhile release home loan and not stop my payment to builder?
vishal
(Expert) 12 July 2011
provide all the documents mentioned in the Title Clearance Certificate as it is necessary for Bank to obtain all the documents mentioned in TC Report of its Penal Advocate. If you will not submit all the documents the Bank will not create mortgage your property and will not disburse remaining loan amount.
sanjeev murthy desai
(Expert) 12 July 2011
you just ask developer to provide all the documents which are asked by the Bank and builder has a liability to provide such documents to you otherwise you just file a consumer complaint/suit against builder.
Try to provide all such documents otherwise file a case as above said manner.
