Purchasing a Mortgaged Property
Posted: December 9th, 2011, 11:03 am
Hello everyone,
Im planning to purchase a individual house which is under mortgage to a co-op bank with outstanding of abt 20 lks.
1. What are the steps to deal for the purchaser?
2. Are there any risks involved? (For the purchaser)
3. How should the money be disbursed to the seller?
4. What are the legal points that the purchaser needs to ask the seller?
5. What are the uncertainties involved?
6. The seller has not paid the property tax for last 2 yrs. Is it fine? (the seller is giving dumb answers like he dint have time for paying
)
Advanced thanks for helping out!!
Im planning to purchase a individual house which is under mortgage to a co-op bank with outstanding of abt 20 lks.
1. What are the steps to deal for the purchaser?
2. Are there any risks involved? (For the purchaser)
3. How should the money be disbursed to the seller?
4. What are the legal points that the purchaser needs to ask the seller?
5. What are the uncertainties involved?
6. The seller has not paid the property tax for last 2 yrs. Is it fine? (the seller is giving dumb answers like he dint have time for paying
)Advanced thanks for helping out!!