Can I buy or sell a house that is on a home loan? (Tamil) | Mortgage loan | Buying an old house

Описание: If you want to sell your house on which you have a running home loan, you will need your lender’s consent. This consent is typically provided in the form of a letter which will typically provide the amount, on payment of which the outstanding loan will be fully paid off. After the payment of all dues, the bank will return your original documents and issue you a No Objection Certificate (NOC) indicating no outstanding amount to be paid.
If the buyer is also looking for a home loan to buy your property it is advisable to approach the same bank so that the process is likely to be easier than otherwise. However, the buyer will have to go through the processing of a home loan for him.
Watch this Tamil video @SM EDUTALK, to find the answer to a question: Can I buy or sell a house that is on a home loan or mortgage loan? Also, know the pros & cons of buying an old house.

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