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How to sell a property in case of missing sale deed documents
13-Apr-2023 (In Property Law)
We have lost our original sale deed of a plot of land. We have however, obtained a certified copy after giving newspaper ad, filing FIR etc in 2015. Now, we want to sell this property but however, the buyers are asking for about 20% less than market price. A few have backed out because loan is not available to them due to non-availability of original sale deed. My query is - "What is the best thing to do, 1. to get buyers at market price and 2. Help buyer get a loan to buy the property" A couple of the bank executives advised that a gift deed be made between the owner and someone first. Then try selling the property with the gift deed. This will help in getting a bank loan. I was also thinking of selling the property to my friend initially and then sell it to an outsider through him, so that I could get market price and also, no issues on the loan. Kindly advise.
Yes you can transfer the property via Gift deed to one of your kins. And then sell the property making a by a sale deed. It's the easiest way for you to undergo less burden but if the tax you are paying, costs the difference of around 20% for the gift deed, then it's better to sell it off as and how it's costing you. It's a simple evaluation.
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