{"id":6046,"date":"2020-10-02T15:36:04","date_gmt":"2020-10-02T10:06:04","guid":{"rendered":"http:\/\/blog.ruloans.com\/?p=6046"},"modified":"2020-10-02T15:36:04","modified_gmt":"2020-10-02T10:06:04","slug":"top-3-factors-you-must-check-when-planning-to-buy-a-house-through-bank-auctions","status":"publish","type":"post","link":"https:\/\/www.ruloans.com\/blog\/top-3-factors-you-must-check-when-planning-to-buy-a-house-through-bank-auctions\/","title":{"rendered":"Top 3 Factors you must check when planning to buy a House through Bank Auctions"},"content":{"rendered":"\n

Property rates in India \u2013 Very High!<\/p>\n\n\n\n

Standard of Living – Very High!<\/p>\n\n\n\n

The Income of Indians \u2013 Not very high!<\/p>\n\n\n\n

This is the age-old problem that every Indian goes\nthrough when planning to buy a house\/property. Opting for a home loan over 20+\nyears is the only solution. But would you want to spend more than half of your\nworking life paying a home loan?<\/p>\n\n\n\n

If the answer is NO, then we have some exciting\nnews that will surely cheer you up. You can now purchase auction property from\nBanks in India.<\/p>\n\n\n\n

What\u2019s an auction property?<\/p>\n\n\n\n

Many customers that take a home loan in India<\/a>\ncannot repay it. In such a scenario, Banks will cease and repossess the\nproperty as their own. This is done to recover the remaining loan amount. Banks\nhold auctions for such properties and sell them off for a discounted value\nbetween 5-30%*. <\/p>\n\n\n\n

Why should I buy an auction property?<\/p>\n\n\n\n

You should buy an auction property if your budget\nis low and you want to take a home loan<\/a>\nfor less than 15 years.<\/p>\n\n\n\n

What are the top 4 factors you must check when\nplanning to buy a house through Bank Auctions?<\/p>\n\n\n\n

There are many factors one must check when\nplanning to buy a house through Bank auctions. These factors are very\nimportant. Hence we request you to sort all of these factors and then only go-ahead\nto purchase the auction property.<\/p>\n\n\n\n

  1. Who holds the legal title to the\nproperty?<\/li><\/ol>\n\n\n\n

    Firstly, just because the Banks took possession of\nthe property does not mean that they will have the rights over the property.\nYou must check<\/p>\n\n\n\n