Home Loan Queries

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Well that what the builder had done it in the past whenever he needed SBI to release cash. But time, I dont know how come this happened.Had been to SBI today and asked them these questions, They had no answers! I smell some kind of nexus between banks & builder.
 
Update?
 
Yeh, He signed the cheque and gave it to me in flat 10 minutes.
 
Wait for the cheque to clear! 😛 😀
 

Yes, The cheque cleared today and he was even ready to do online transfer!I didnt have my account details so asked him to give me a cheque.
 
continuing in this thread...as i don;t have much details with me right now plus ( My Aunt ) my cousins normally like to spend the money as they like at the end even though I end up paying for it many times directly or indirectly to them for it :

My Aunt is currently planning to take a home loan. She wants to pay the owner in instalments. Is that possible ? or she will need to pay the entire amount to the owner in one go only ?
how will the ownership get transferred ?
what is more advisable: pay the owner in one go or pay in instalments ?
 
Is this house ready or under construction. If under construction they would probably accept payments as per progress
 
Toocool said:
nobody gives a cheque these days if he doesnt intend to clear it .....🙂
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Small time businessmen do. I can personally confirm. They do that to gain time. They don't run away. But sweet talk and make another payment later
 
mhsabir said:
Is this house ready or under construction. If under construction they would probably accept payments as per progress
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most probably a ready one. how are the payments to be made in that case to the owner :
 
He would probably expect payment in full then. Taking home loan? Then bank would pay him full. If no, then well you need to arrange payments.
 
thanks! in case of home loan when bank pays the owner does the bank also check owner's and property background/reliability and other things or do they just hand him/her the amount? I would prefer they do and let us know if anything comes up..
 

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