Pre-Approval
A number of factors are taken into account when assessing your repayment capacity for the Pre approval of the loan. Your income, age, number of dependants, qualifications, assets and liabilities, stability/ continuity of your employment / business is one of them. Bank’s credit team underwrites your profile on the basis of documents provided by you and decides the loan sanction amount.
Legal and Technical
Legal is a process where lawyer’s appointed on bank’s panel verifies and checks the authenticity of your property documents which you are buying and it ensures you that you are buying a safe property.
Technical is a process where team of experts with relevant experience in the real estate evaluates the real value of your property and after the report submitted by both the teams (Legal and Technical) to the bank your case proceeds for disbursal.
Disbursal
It’s the process of preparing the pay order after submission of all the original documents of the property you are purchasing and signing of the agreement between the bank and the applicants of the loan.
