Purchase a property through drt & bank auction
Neeraj
(Querist) 04 September 2012
This query is : Resolved
Dear Sir,
I want to purchase a property from Bank auction, as per auction tender document contain a statement "as is where is basis" what is meaning.
1. Can bank provide a clear title to me?
2. Can bank execute a sale deed in my favor?
3 .In a tendered document property tax and electricity charged brone by tenderer current as well as previous, Can sale tax, excise, service tax & any other tax liabilities on this property because defaulter company has taken this number?
4. what kind encumbrance on this property?
Thanks
Neeraj
ABHIJEET PARIKH
(Expert) 04 September 2012
Normally banks conduct their own diligence before granting therefore it is relatively safer option to buy from them their title is also clear any irregularity in it will be regularised from the bank itself A bank will also follow due compliance tranfer the property in ur name
