Noc in bank format for resale of flat already mortgage
Querist :
Anonymous
(Querist) 29 May 2022
This query is : Open
I am single owner of property and i want to sell my flat. I have an outstanding loan from a bank for 22lakhs which will be offset by bank transaction when buyer will be able to get the disbursement from the same bank and branch.
I have been reaching out to society secratary to take advise whether he will be able confirm that there is no issues what so ever in bank format of noc and society can give us sign once we submit the sale agreement copy.
However he is delaying replies and not even bothered to reply us in timely manner, he is just saying he will speak to advovate and let us know and advocate is on leave and doesnt know when she returns back form her leave.
Also i have medical emergency because of which i need money and want to close loan as its getting difficutl to pay hence selling it off.
The bank has provided request letter as well so that they can create mortgage and close this transaction via bank
1. Is registration mandatory to be done
though we are unsure about whether society will give NOC in bank prescribed format or not?
2. Is society NOC really mandatory for bank to disburse loan
3. What to do if society is nit entertaining me though all dues with regards to society are very clear from my side.
Can someone please help me here🙏
kavksatyanarayana
(Expert) 29 May 2022
for your queries, to my best, No. 1. Yes. 2. Yes. 3. Though you cleared the loans of the society, NOC is required.
Querist :
Anonymous
(Querist) 29 May 2022
For 1. How will buyer assure that post registeration society will not creat any noie and give NOC in bank prescribed format. If there is deviation put up by society then the money is gone in vein that we put for registration.
2. As per byelaws 38. NoC from society is not a mandstory document for availing loan, what is your stake on this please.
3. What shall i do if society is not replying to my qyeries where shall i go ?
