Hi Ashal,
I bought an apartment in September 2012, with housing loan from SBI. The bank have till date disbursed one payment based on the Agreement of Sales. Now, I am planning to sell the property either to the builder or a third party for which discussions are going on.
1. Can I transfer the loan to the new buyer, if he/she intends to take a loan from SBI?
2. Do I need to pre-close the loan to do this transfer?
3. What happens to the mortgage of the property after pre-closure?
4. What are the points to keep in mind while dealing with the builder because they are also interested in buying-back the property.
Appreciate your response.
Thanks in advance
Kumar