Loan on approved banks
pushpakrishna
(Querist) 05 December 2014
This query is : Resolved
dear experts ,
i would like to purchase a flat and seen the same and the project also approved by all the leading banks (For giving loans )and one of the banks also advised me not to go any advocate as we approved for giving loans after verifying all the required documents and only you have to submit an application along with required documents like salary slip and details of employment Etc. can you give me an advice on this dear experts ?as in future both of us (Builder and me should not suffer in any manner) thank you sir.
Sailesh Kumar Shah
(Expert) 06 December 2014
If you have any doubt on approval of project, engage own advocate for verification.
Advocate Ravinder
(Expert) 06 December 2014
It is the burden of the Manager of the Bank. Why do you worry. It is the option of the Bank manager, he can sanction loan by himself or he can send it for legal scrutiny report by the Bank Panel Advocate. Normally the Bank Manager will not sanction loan of his own. He will send for opinion to Panel Advocate only. If there is any fault in the title verification, the burden lies on the Panel Advocate. Hence, the Manager will not take risk.
You can furnish the documents, whatever required by the Bank Manager.
Rajendra K Goyal
(Expert) 06 December 2014
Generally the Banks approves some project for individual financing by scrutinising all the documents. If the project is approved, you may proceed.
However, if you want to proceed safe, you may get these scrutinised through your lawyer.
T. Kalaiselvan, Advocate
(Expert) 09 December 2014
In all the probabilities you may rule out your doubts regarding the title or any other related aspect by referring the matter to another advocate for a second opinion, be fully satisfied and then proceed without much hassles.
