● My brother is selling the flat for which he had taken a home loan. Outstanding amount is ₹21 lakh. He is selling the flat to me for ₹30 lakh. Can I get a home loan to pay him the money? —R S Sridhar
Yes, you can apply for a home loan. However, you have to pay your brother the margin money from your savings. The bank will get the property's valuation and title search to finalize the loan amount. Your bank will pay your brother's bank first to pay off the loan. His bank will release the mortgage papers to your bank. The remaining disbursal of your home loan will be done to your brother's savings account.
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Esta historia es de la edición December 28, 2024 de Financial Express Delhi.
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A win-win solution
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Track kids' location in real-time
A 4G smartwatch with large display and GPS tracking
