- This topic has 14 replies, 10 voices, and was last updated 1 year, 3 months ago by
.
-
Posts
-
-
CSo my farther is buying a flat in gujrat which was originally priced 30 lakhs, but we are getting it for 21 lakhs from bank but today I got to know what happened was the previous person who took loan wasn’t able to pay the loan so the bank took it from him the neighbor who lives in front of that flat told me that the person one day came and asked for scrub(he told her everything was solved) to clean all the loan due and eviction notice and later he changed lock and took keys with him
later the home loan people came and asked the neighbours about who removed the notice and told that it was illegal she told them he said “him everything was solved” the bank people next day came with police and media reports to shoot every and they removed the lock and changed to a new one and took keys with them
So my question is should we buy this house, what if the previous owner come and distrub us or even harm is? Or is it a good deal and we should stick to buying it? it would be helpful if you share your experience
-
-
CI personally don’t know the ex-owner so I don’t know and won’t be the bank who will be paying him back?
-
-
-
Dokay first you need to tell us under what law is the bank selling the flat, is SARFAESI, is their an auction , you need to provide some information
-
CTbh even I don’t know all I know is that he keeps bringing new people to sell the house (neighbour told me about that)
-
-
-
MNAL.
I know cases like these. First you have to check the “type of possession”. If it is “physical possession” by the bank, it is better (than symbolic possession). Ask the bank if they have the official papers to auction the property. In many cases, banks and the borrower reach an agreement at the final stages, and you will be the one with unwanted waste of time, effort, and money.
“Everything was solved” means he knows the value of the property is higher than the 21 lakhs. So, what he will do is try to find a buyer and sell it for money higher than what he owes the bank and keeps the rest to himself. Not sure how legal is breaking and changing the locks are.
-
-
DCheck with the bank on how good their legal team is, if the bank has a weak legal team thn dont cuz these lawyers will eat money from the other side and rod up your arse later.. If your father knows the bak manager very well thn take your lawyer and get all the legal stuff clarified. Once your lawyer says it’s legit and the bank does have a strong hold of the property its safe to move forward and the previous owner can’t do shit.. We live in a similar home and it has been an ongoing case for few years now and the guy who is fighting the bank is a friend of an MLA here in bangalore yet his wife and daughter got arrested for changing locks and staying in the building despite getting a legal notice that the property now belongs to the bank. The only reason the case took so long was cuz the bank lawyers were shit and were lobbying money from the other side
-
-
-
-
MWe bought this kind of property once, and honestly, it was a nightmare.
After the auction, in the time between possession and paperwork, the ex-owner broke into the house using the neighbor’s terrace and damaged the place. When the bank employee and another official handed us the keys and showed us around, that’s when we saw the extent of the damage. The bank official took photos, and later, they offered us compensation since the loan amount was lower than the property price. At that point, we just accepted it—we had already invested too much time, money, and energy.
Fast forward to renovation and moving in. On Makar Sankranti, the ex-owner showed up, drunk and furious, and attacked us. My uncle got injured. Thankfully, it was easy to file a police case, and the bank officials helped since the previous property damage case was still under investigation.
Long story short, dealing with the ex-owner was a constant headache. We eventually sold the house to someone with strong connections. As expected, the ex-owner had another fight with this new family, but this time, it didn’t involve the police—just a physical brawl. In the end, the ex-owner had to apologize to both families (us and the new family) and ended up leaving the city.
Honestly, this whole experience was exhausting. Lesson learned—never buying a property from a bank auction again unless you have really strong connections.
-
