Resale Transaction Procedure & Steps

?A resale transaction is a process of buying or selling a property that has been previously owned by someone else. The procedure may vary depending on the type of property, the location, the mode of payment, and the parties involved.

Resale Transaction Procedure

1.?Final Price Agreed between the Buyer and Seller

2.?The Payment Schedule

3.?Whether there is a bank loan involved or via self-funding (In the case of a Bank Loan, providing a copy of the letter of eligibility from the Finance Company or Bank to the seller ensures a smooth transaction process. Also, the overall transaction will extend by 2-6 weeks depending on how fast the Finance Company or Bank disburses the Loan Amount post Registration of Agreement to sale.)

4.?Registration of Agreement for Sale (AFS) made including all the terms as decided with the self-funding payment made and only the balance amount mentioned on the sanction letter to be balance payable.

5.?AFS along with the provisional mortgage NOC by condominium/Society is submitted to the Finance Company for verification and preparing the Pay Order.

6.?The copy of the pay order is shared and then we go ahead with the Sale Deed. Seller handover possession and chain of documents once the Pay order is received