Q Menu ▼ What to Expect While the Bank is Processing the Home Loan Request ©March 5, 2018 & Real Estate devaluate the property, home loan application, loans at home 1 Srishti Chandola ifc Like 2 Whether or not, you will be able to materialize the home purchase plans would hugely depend on the rejection or acceptance of the home loan application that bank might be processing. At this point, it's worth mentioning that bank is pretty diligently reading all information you have provided in the application form, and going to make sure it is veracity. Typically, this process takes 15 days or less, while the verification process is on, the applicant must be on the toes. Under no circumstances, you could be unavailable Since the mobile phones are the major mode of communication these days, you have to ensure that the mobile phone is always on and has great reception. There are many of calls coming to your ways while the process is on. Also, the bank sends emails. Keep checking the emails regularly. At the end of it all, the bank would call for personal interactions inform the office that you would inquire to take a day off to do the same. Be ready to welcome the team Typically, the banks send two varied teams to evaluate the property. One member of the legal team, as well as another from the technical team, would visit the property you propose to buy to make the assessment. Former would ensure that there are no legal hassles pertaining to the property while the latter would definitely assess what market value of the property is. These days, banks so employ third-party service providers to do their job. Soon after submission of application, these evaluates will get in touch with you as well as fix a time to the visit. As per the convenience, you can fix the time. Be in office, be at home It is not just the property that will be evaluated. The bank will check the veracity of personal information that you have provided. This is to ensure that the loan is going into the correct hands and that the borrower has means to repay the debt. To do so, someone from the bank would visit the present residence and re-check all details.
Someone from the bank would visit the office to do the same. Keep others in the loop The banks ask to provide the details of two people who aren’t your blood relatives in the home loan application form. It would contact these people to check up on you. Do tell people whose contact the numbers you provide that they should expect a call from the bank. They shouldn’t be caught off guard, even if they are the best of friends. ^ Increase in Gurgaon’ Circle Rate, Rush if you want to Purchase a Property List of Some Ready-to-move-in Localities in Delhi ^ Leave a Reply Your email address will not be published. Required fields are marked * Comment Subscribe to our newsletter Want to be notified when our article is published? Enter your email address and name below to be the first to know. Send Facebook
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