Can you please make a detailed video on risks in a scenario where a buyer buys a resale flat near to possession property from an investor but has to pay to the builder as well as the investor and it looks like a multi party deal. Because these days in most of the near completion projects, the only option for a common man is to buy from an investor because all inventory of builder is already sold. Request you to please make a detailed video on this subject and help explain the risks involved and what are the best options to proceed in such case. Thanks.
Very good simplified explanation, Krish. The term of only increasing rate of interest looks like it was added after 2012. There are situations where RBI reduces PLR and / or some other areas which leads to reduction in interest rates. But these dirty banks don't tell it to people. At my time, I had to read about this in newspaper, take that cutting to bank, explain to their employees and ask for procedure. Since I initiated and asked they had to tell. So for a small fee of 2500 rs, they would reduce a dozen EMI's which was profitable for me But I used to wonder about those who did not approach bank for this or not aware about this. I doubt if banks voluntarily send letters of reduction in interest rates to others who were not aware.
Can you please make a detailed video on risks in a scenario where a buyer buys a resale flat near to possession property from an investor but has to pay to the builder as well as the investor and it looks like a multi party deal. Because these days in most of the near completion projects, the only option for a common man is to buy from an investor because all inventory of builder is already sold.
Request you to please make a detailed video on this subject and help explain the risks involved and what are the best options to proceed in such case.
Thanks.
Very good simplified explanation, Krish. The term of only increasing rate of interest looks like it was added after 2012.
There are situations where RBI reduces PLR and / or some other areas which leads to reduction in interest rates. But these dirty banks don't tell it to people.
At my time, I had to read about this in newspaper, take that cutting to bank, explain to their employees and ask for procedure.
Since I initiated and asked they had to tell. So for a small fee of 2500 rs, they would reduce a dozen EMI's which was profitable for me
But I used to wonder about those who did not approach bank for this or not aware about this.
I doubt if banks voluntarily send letters of reduction in interest rates to others who were not aware.
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