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Does bank check for legal verification of resale flat before sale agreement between buyer and seller or after the sale agreement?
Does bank check for legal verification of resale flat before sale agreement between buyer and seller or after the sale agreement?
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PGN Property, Real Estate & Documentation Consultant with 21+ years of experience 
Answered on July 13,2023
Most of the banks have their own legal team to check feasibility of loan processing.
Bank need following documents to check the feasibility of loan processing
- Seller's sale deed
- Tax receipt
- Khata
- Seller's PAN
- Buyer income proof (salary slip or income tax returns)
Once the bank verified and confirm the loan possibility, proceed the sale agreement execution
Sale agreement is mandatory for home loan application, the sale agreement should be adjudicated with 0.1% of buying price or guidance value (which is higher)
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