Help centre
Here are some of the most frequently asked questions for more information.
What Are Value Added Services?
Value added service (“VAS”) is a unique service (Subscription basis/paid service) offered by us.It involves carrying out legal and technical verification of property and giving independent report to bidder. Which will help the potential buyer enter the auction process with complete information and legal and technical know-how of the property he is interested in. This will also help the interested buyer in placing the bid at a fair value so that he gets that advantage of buying property lower than the market value.
What Is Legal Verification?
A team of experts will carry out several checks on the property for sale. Since the borrower is already a defaulter in nature, legal experts will ensure no stone left unturned Highlight each and every issue/charges/pending bills/other lis pendens to help the bidder in proceeding or not with the auction this includes verification of all original documents including title deeds , NOC if any and other ownership papers.
What Is Technical Evaluation Of Property?
A team of experts will visit the property to check its physical status, locality-specific considerations and building specifications, to arrive at its fair market value. This is a critical step for any bidder to ascertain what can be his upper threshold for bidding.
What Is The Combined Valuation Report?
We will appoint 2 different agencies consisting legal and technical experts who will do legal and technical analysis of these properties and the 2 independent reports will be submitted to inhouse legal/technical expert for approval. This will be duly verified approved before handing over to subscribers of legal and technical verification services.
What Is The Turnaround Time For Valuation Report?
We will start to work on the property analysis very next moment subscriber opt for this service, typically these reports will be shared with in 7 business days, however any delays arises due to document not availability can take more time.
Content of E-auction India
Advantages of buying properties through Bank Auction
Price Advantage
Bank auction properties are available at a value that is 20-25% lower than the market value.
Legally Safe
The bank auctions are conducted within the SARFAESI Act and the DRT Act's guidelines. The bank's or financial institution's loan approvals are subject to verification of all legal aspects.
Credibility Of Seller
The Government of India has authorised banks and financial institutions, so purchasing such properties is risk-free.
A Simple Process
The purchaser will be relieved of the burden of going over the legal responsibilities of the property.
Transparency
100% transparent and completely secure transaction.
Time Frame
A property's registration usually takes two months.