Measures taken by Khan to settle his loan

The buyer has agreed to pay the lump sum amount and so the buyer will apply for a housing loan when the documents are cleared by Khan’s bank. He said he already has a copy of the original document of the property and the buyer can get it verified by the bank. This is the way to sell a house against an outstanding loan.

Property documents to be kept in order

It is always important to put the paperwork in order before approaching a buyer or before talking it out to the bank. The main document that is required is the housing society share certificate and the sale or purchase deed of the property. The sale deed suggests that the particular name is in the name of the seller and that he owner has the rights to sell it off. If the property has been passed on to many buyers then the present buyer can ask for the copy of the original deed to check the authenticity of the property and the deal.