SBI Loan Disbursement

POSTED BY geetapro123 ON October 31, 2012 10:50 am COMMENTS (5)

Hello

I am in the process of selling out my pune flat . This is under the partment deed and sale deed has not taken place. I have entered in Agreement to sale and it necessary stamp duty and registration charges have been paid by the buyer. The Buyer is seeking SBi loan. The loan is approved after 6 weeks of followup. Now SBI is asking for Sale Deed to be  completed and the copy been submitted before the disbursment happens. As per SBI lawyer the sale deed should carry wording “full amount of sale transaction vaule received ” and only then the original Disbursment DD will be issued. till that time only copy of the DD will be issued.

I am not in favour of signing any document which says that full amount received when i have actual received only the part payment.

Need Help.

5 replies on this article “SBI Loan Disbursement”

  1. Dear Geeta, what’s the update from you on the issue?

    thanks

    Ashal

  2. Credexpert says:

    Dear Geeta,
    You should try and explain to the two offices of SBI the apparent different stand they are taking on this issue. Maybe Mumbai SBI can clarify to SBI Pune. In the larger interest of you completing the transaction, it may be better to try this route rather than complain.

    Regards,
    Credexpert

  3. Credexpert says:

    Dear Geeta,

    In Maharashtra, you don’t need a Sale Deed. An Agreement to Sell with NOC from seller and Society, receipts of own contribution should be enough.

    I do not understand why SBI is insisting on a Sale Deed. And you should not acknowledge receipt of full money when you have not actually received the same.

    Regards,
    Credexpert

    1. geetapro123 says:

      Hello
      I have checked with SBI in mumbai and thay also don’t have the practise. But SBi pune is insisting on this else they will not disburse , Is there any panel where i can compliant against such practise. Your advise would be of great help.

      1. Geeta

        You may also want to put a RTI query to SBI and get it clarified in writing and ask the SBI pune branch what do they have to say about their practice in relation to the RTI one . This might help them put into a situation where they might change their stand . However this can take some time of yours and might not be a fast alternative option .

        Manish

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