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- Whether banks give loan for buying auction property for sale?
- Can I get a home loan for an auction property?
- What is Demand Notice ?
- What is Possession Notice ?
- What is Sale Notice ?
- What is Symbolic Possession?
- What is Physical Possession?
- What is Constructive possession ?
- What is “AS IS WHERE IS BASIS"?
- What is “AS IS WHAT IS BASIS"?
- What is “WHATEVER THERE IS BASIS"?
- What is SARFAESI Act 2002?
- What is a Non-Performing Asset (NPA)?
- What is “NO RECOURSE BASIS"?
- Whether is it safe for buying auction property ?
- What is interim Sale Certificate?
- What is Digital Signature ?
- What is Sale Certificate?
- Whose name Sale Certificate issued ?
- Whether Sale certificate can be issued to third party other than the successful bidder?
- What is time frame for registration of auction property purchased?
- Whether all banks ask digital signature for auction ?
- user has asked no Photos, no model number, no how many total km Drive, how Know it best r not ?
- Whether to buy auction property for which the physical sale deed not present at all the bank ?
- What is Inspection date for auction property ?
- What is the Requirements for participating in e-Auction ?
- What is Reserve Price ?
- What is Bid Increment ?
- What is Auto-Extension ?
- What is EMD in auction ?
- Whether EMD carries any interest ?
- When EMD will be returned ?
- Who is Successful Bidder ?
- When is successful bidder notified ?
- What is the time available for the Successful Bidder ?
- What will happen if 15% amount not in time by the Successful Bidder ?
- What will happen if 75% amount not in time by the Successful Bidder ?
- Whether bank has right to cancel the auction ?
- Whether bank has right to postpone the auction ?
- Whether authorised officer has right to accept or reject the final price ?
- Whether once bid placed can be cancelled or withdrawn by the bidder ?
- What will happen in case of default in payment by the Successful Bidder ?
- Whether authorised officer liable for third party claims or rights or dues ?
- What is procedure to buy property from bank auction?
- What is e-auction date ?
- What is the Requirements for participating in Mega Auction ?
- What is immovable property ?
- What is movable property ?
- How can I pay the Earnest Money Deposit ?
- How to bid for multiple auctions? Also, will I need to pay the EMD for each property that I bid for?
- Is it possible to withdraw from an auction after paying the EMD amount?
- What documents has to be submitted for participating in auction process?
- What is Non-Disclosure Agreement (NDA) ?
- What is Preliminary information Memorandum (PIM) ?
What is Symbolic Possession?
Bank has sealed property but has no physical access to it.
The bank didn't take the physical possession of property.
It is advised not to buy the Symbolic possessed auction property due to various problems associated with them.
1.Property may have been given lease to third party by the owner of the auction property.
2.The owner doesnot vacate the property.
3.The owner house hold items present in the auction property.
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