Need advice for selling my property in Mumbai

[Cleverhawk6137]

C

Cleverhawk6137
PARTICIPANT
February 23, 2025 at 9:51 am

Dear legal experts of this sub

I am selling my property and the buyer has applied for a loan from LIC housing finance. Although the sale deed has been registered and the buyer has deposited X amount from the total of Z. The Y amount from Z will be financed by LIC.

As per my knowledge the original sale agreement of mine with builder has to submitted to the financier on the day of disbursement of the loan. However, the guy from LIC housing finance is saying that I will have to submit the original documents to their branch for which they will give me a signed and stamped List of Documents submitted from my end and then will submit the documents in their Head Office. Post 2 working days I will receive the amount Y to my account.

I needed advice whether this is the right way to go ahead as I was under he impression that I will be submitting the original documents and getting loan amount disbursed soon. The LIC guy says that they cannot disburse the loan amount from the branch and head office people have the authority to do the same. Hence this procedure is followed in LIC housing.

Please help mates.

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[Lavanyabro181]

L

Lavanyabro181
PARTICIPANT
February 23, 2025 at 10:39 am

They might ask for original sale agreement but not the original land documents. They get a certified copy from sub registrar office of all the deeds.

I have only handed all the originals on day of registration or day before after receiving 100% payment.(No loan)

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