tag:blogger.com,1999:blog-3468941224918996983.post1453979979539736216..comments2023-09-11T14:34:19.657+05:30Comments on Foreclosure India: How to participate in an Bank Auction ?Bhargavhttp://www.blogger.com/profile/09646950908119968914noreply@blogger.comBlogger29125tag:blogger.com,1999:blog-3468941224918996983.post-68519444552037170072021-11-08T12:34:27.260+05:302021-11-08T12:34:27.260+05:30Please consult an Auditor or Lawyer who specialize...Please consult an Auditor or Lawyer who specializes in VAT Cases.Bhargavhttps://www.blogger.com/profile/09646950908119968914noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-88766023838505098682021-11-06T10:45:53.667+05:302021-11-06T10:45:53.667+05:30Sir, We are interested to buy a company by Auction...Sir, We are interested to buy a company by Auction<br />SIMCO hold possion and sale property.<br />There is VAT outstanding Rs.145 Cr..<br />No guide me who will pay VAT ??<br />How to male sale certificate to avoid above liability<br />Mohsin<br />9825205333Anonymoushttps://www.blogger.com/profile/18400431239970977987noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-25984625648916630692021-10-21T17:28:16.017+05:302021-10-21T17:28:16.017+05:30Yes the website it active.Yes the website it active.Bhargavhttps://www.blogger.com/profile/09646950908119968914noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-35331718944212051292021-10-21T17:15:35.493+05:302021-10-21T17:15:35.493+05:30Is the site active? No questions asked since 2016?...Is the site active? No questions asked since 2016?<br />Anonymoushttps://www.blogger.com/profile/14297779000109405834noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-66686612947580142202016-08-06T21:57:42.099+05:302016-08-06T21:57:42.099+05:30Dear Mr.Ravi Thanks for providing such a valuable ...Dear Mr.Ravi Thanks for providing such a valuable information. Have you ever participated in any such auction conducted by Banks and how was the experience, did you face any issues during or after the conclusion of Auction. Plesae share.<br />Reagrds<br />MB AhmedAnonymoushttps://www.blogger.com/profile/08772997631677134188noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-44946477524349124542016-08-06T21:54:20.152+05:302016-08-06T21:54:20.152+05:30Dear Mr.Ravi, Thanks for sharing your experience a...Dear Mr.Ravi, Thanks for sharing your experience and providing useful information to the readers. Have you ever participated or represented any one in any auction and faced any issues with any one related to auction, if yes, then kindly share your experience.<br /><br />Regards<br />M Basheer AhmedAnonymoushttps://www.blogger.com/profile/08772997631677134188noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-8831653199511637122016-07-22T10:58:34.528+05:302016-07-22T10:58:34.528+05:30thanks sir, its really very helpful information.
S...thanks sir, its really very helpful information.<br />Sir one request may get your no.Anonymoushttps://www.blogger.com/profile/02699629916371430472noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-70642847035024793012015-12-30T06:16:17.616+05:302015-12-30T06:16:17.616+05:30can i apply for homeloan for this properties in sa...can i apply for homeloan for this properties in same bank or other banksAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-83938814573542670452015-08-17T17:51:05.253+05:302015-08-17T17:51:05.253+05:30Just want to ask what are the legal procedure to t...Just want to ask what are the legal procedure to take part in bank auction proeprty?<br /><br />(if person is not account holder of bank is he can take participate in auction, if yes what documents he need to produce?)<br />if the person not account holder of bank, and on behalf of concern person can he able to make other person to be available at the time of auction? if yes what are the documents the concern person and other person both needs to produce in bank property auction?<br /><br />Your reply is most valuable for us.<br /><br />Regards,<br />VickyAnonymoushttps://www.blogger.com/profile/18086877588952279114noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-80101155485216898522013-02-27T22:14:00.178+05:302013-02-27T22:14:00.178+05:30Hello All,
As far as my experience goes with th...Hello All,<br /><br /> As far as my experience goes with these bank auctions, here are the facts:<br /><br />1. As the bank is selling the properties "as-is and where-is" basis. They wouldn't guarantee you about any taxes due on the property. It's the buyers responsibility to do the due diligence. <br /><br />2. Bank won't give you the copies of the title,lien or any other documents, but if you go to the bank they will show you the copies. you can make a note of any of the information that's necessary.<br /><br />3. It's always possible that the defaulter had a intention of fraud from the start. In most of these cases, what they do is, they get the loan from the bank and they will sell the same to someone else in the market. So now who owns this property ? It all depends on how the transactions happened. If the defaulter got the loan from the bank first and then sold else where, then the bank has the full rights. If its vice versa, then the bank doesn't have any rights on the property.<br /><br />5. If bank is aware of any dispute with the property, they are responsible to share this with the buyers, when you ask. So make sure, you ask them whats the story behind this mortgage and if there are any disputes.<br /><br />6. Once you have all the information, then you can go ahead get the EC for said property and make sure that names on the EC are same as what you saw in the bank. If necessary, go to the registration office and get the copies of link documents from the office. And also make sure you inquire with the municipalities/authorized office about any unpaid taxes on the property. <br /><br />7. And also make sure you do the inspection of the property thoroughly, if needed take any experts with you to check the structure and the quality of construction, if any.<br /><br />8. Don't take a haste decision and repent later. Make sure you have ample time to do all this due diligence. once you are comfortable and then depending on the taxes due/market value/inspection, you can decide whats your max offer for the property.<br /><br />GOOD LUCK with your hunt.Anonymoushttps://www.blogger.com/profile/16376972316480045340noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-56472432229394383212012-09-03T18:13:32.245+05:302012-09-03T18:13:32.245+05:30approched so many banks (HDFC, ICICI, AXIS) they r...approched so many banks (HDFC, ICICI, AXIS) they refused to provide the loan for the auctioned property. JSRhttps://www.blogger.com/profile/16576601907922288504noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-79733701359311308122012-08-09T14:35:39.950+05:302012-08-09T14:35:39.950+05:30hello all,
i am a builder from hyderabad. all are...hello all,<br />i am a builder from hyderabad. all are advised to check, if you are going for a home loan, that the bank you are approaching for a home loan is providing loan on auctioned property. because most of the banks are refusing home loans on auctioned properties.<br />thanks,<br />mahesh.shreeeconshttps://www.blogger.com/profile/00158511524759343208noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-73970243663199580452012-07-26T14:30:50.574+05:302012-07-26T14:30:50.574+05:30yeah this is very important.....yeah this is very important.....वैभव बिरमोळेhttps://www.blogger.com/profile/00813870771422787743noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-31353726493200036502012-07-22T22:46:44.781+05:302012-07-22T22:46:44.781+05:30dear sir ,there are already lots of vip questions...dear sir ,there are already lots of vip questions asked .pls answer them immediately & prove your credibility asap so that prospective buyers will be free from doubts & fear involved in buying .<br />regds Deepakdeepakfineartshttps://www.blogger.com/profile/10116262923003542321noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-30848363846739110552012-03-04T02:49:46.807+05:302012-03-04T02:49:46.807+05:30What happens to the properties which are listed on...What happens to the properties which are listed on Foreclosureindia.com where the sale is not made or closed? Will the new auction dates be updated later on, on this website??AZ007https://www.blogger.com/profile/07100519899772934472noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-27167538064450722042012-02-23T14:33:47.382+05:302012-02-23T14:33:47.382+05:30Some very important questions are asked. Author/An...Some very important questions are asked. Author/Anybody got any reply?Heisenberghttps://www.blogger.com/profile/10006882982015488654noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-5643723168607688682012-01-10T18:19:06.786+05:302012-01-10T18:19:06.786+05:30but how we will come to know where is the auction ...but how we will come to know where is the auction going?Mitesh Gyanchandanihttps://www.blogger.com/profile/00440505617776902865noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-39177988352761509572011-12-24T10:31:14.108+05:302011-12-24T10:31:14.108+05:30I want to bid for a property under bank auction.
H...I want to bid for a property under bank auction.<br />However, since all such auctions are on "as is where is basis", before bidding I would to get Title Clearance Certificate & Due Diligence from my Lawyer.<br />Question:<br />1. Can I legally ask the bank to provide me with copies of:<br /> A. Its mortgage deed with the defaulter<br /> B. Copy of Registered sale Deed, Share Certificate, etc. in its possession<br /> C. Copy of its own Title Clearance Certificate<br /> 4. List of places (like Sub Registrar's office, Society, etc) where bank has created lien<br /><br />If Answer to above Question is yes,<br />1. What is the procedure?<br />2. What if bank refuses to entertain any such request?<br />3. Can I approach any authority to ask the bank to give copies of relevant documents for Title Verification?<br />If yes, whom?<br />Thanks<br />Dr Anil SaraogiDr Anil Saraogihttps://www.blogger.com/profile/11558966845890211433noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-19595077842376207662011-12-20T11:45:38.748+05:302011-12-20T11:45:38.748+05:30how do I go to the property for inspection before ...how do I go to the property for inspection before filling the form? what is the process to see the property i want to bid for?Vishal V Shettyhttps://www.blogger.com/profile/18209361984644743378noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-68214496478205938882011-12-08T00:53:06.301+05:302011-12-08T00:53:06.301+05:30if am a successful bidder, will the EMD be returne...if am a successful bidder, will the EMD be returned back or its adjusted in final settlement which needs to be paid within 30Days to the creditor/bank.<br /><br />Also during registration period its required for an buyer and seller to be available at the registrar office to be available,would it be a creditor representative or actual owner of the propertyGeohttps://www.blogger.com/profile/08065091009306834255noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-25862145015002210852011-11-21T03:19:51.535+05:302011-11-21T03:19:51.535+05:30Yes,Ruchirs question above is very important!Whats...Yes,Ruchirs question above is very important!Whats the risk in being a Buyer,does the Institute provides risk cover,incase of hidden liabilties.What if there are huge amount of unpaid taxes?What if the property is disputed?<br />And most importantly does the institution in its power guarantee a smooth takeover?ANIL_CKhttps://www.blogger.com/profile/01290358893012728461noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-27000743627768342592011-11-18T12:54:21.426+05:302011-11-18T12:54:21.426+05:30Do i inspect the property before the auction,and w...Do i inspect the property before the auction,and what the process ?<br /><br />Also who holds the liability of any due on the propery ?<br />Is all those Dues details will sare to the people who are joining the auction ?ruchirhttps://www.blogger.com/profile/04731143209012195218noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-26447918966275936952011-11-14T06:24:39.367+05:302011-11-14T06:24:39.367+05:30Do i get home loan on Auction property and upto wh...Do i get home loan on Auction property and upto what percentage of property value ?<br />What is the procedure to get loan for such property?Deepakhttps://www.blogger.com/profile/07618337847255086097noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-18204892648280976692011-09-12T15:08:41.019+05:302011-09-12T15:08:41.019+05:30The borrower cannot sue the person but the borrowe...The borrower cannot sue the person but the borrower can go to the tribunal after the auction. If any wrong doing is found on the side of the Institution the sale may be cancelled. But in such a case the buyer can sue the Institution in return.Anonymoushttps://www.blogger.com/profile/05980586257336077504noreply@blogger.comtag:blogger.com,1999:blog-3468941224918996983.post-53183244134090429662011-09-05T22:14:14.509+05:302011-09-05T22:14:14.509+05:30can the borrower sue the person who has bought the...can the borrower sue the person who has bought the property in auction. i mean, can the borrower still go to the tribunal after the auction process is complete. what will be the postion of the buyer in such circumstances ?reversecuthttps://www.blogger.com/profile/10086831957189338601noreply@blogger.com