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Is it advisable to buy a bank auction property?- Property Hotline
Posted
July 29, 2016
Views
16,705
Likes
117
Comments
12
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0.77%
July 29, 2016
16,705
117
12
0.77%
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3:08Now PlayingExpert: Kartik Jhaveri, Founder & Director of Transcend Consulting India Pvt Ltd.
Question: What is the difference between symbolic possession and physical possession under bank auction of mortgaged properties? Is it advisable to buy a bank auction property?
Answer: Symbolic possession refers to a situation wherein the bank has sealed the property but does not really have physically access to it. In physical possession the individual actually possesses the keys and can physically access the property. Yes it is a good idea to buy a property through a bank auction. Ensure you do the required due diligence.
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