Why Choose BDS4Loans?
BDS4Loans is a reputable loan provider company that has been in business for over 15 years. BDS4Loans accepts all banking services and offers a wide range of loan options for organizations, companies, and individual clients.
The company understands the needs of its clients and works to provide loan facilities tailored to their unique circumstances. This approach has helped BDS4Loans to establish a strong reputation for being a reliable and trustworthy loan provider.
With BDS4Loans, it is assured that you'll be in good hands when you need like home loan, Personal loan, Business loan, Loan against property, Mutual funds, Life insurance, General insurance, equities, derivatives, research and various third-party financial products including fixed deposits, tax services & pension products to various individuals customers and corporate customers also for their End-use purposes.
Expert Document Preparation Assistance:
Let us help you format your documents to ensure they are in their correct form, making it easier for you to obtain a loan, which includes-
● Income tax return filing.
● GST registration and its return filing services.
● TDS on sale of Property.
● ROC filings.
● Secretarial Compliance.
● Accounting and Bookkeeping.
We Can Help!
Legal verification is an important step in the loan process for those seeking to purchase or refinance a property. The process involves the submission of various property papers by the customer or borrower and the thorough examining these documents by the lender and their legal team.
The first step in the legal verification process is for the customer or borrower to submit all property papers at the beginning of the loan process. This includes documents such as the
- Registry copy
- Agreement to sale
- Property tax copy
- Assessment copy
The lender then conducts a legal check, and their lawyer examines all the documents submitted and submits the TSR (Title Search Report) to the bank. The Title Search Report is a document that verifies the ownership and legal status of the property.
If there are any legal complexities or disputes, the bank’s lawyer will send a negative report, and the bank or lender may reject the loan. This is done to ensure that the lender is not taking on undue risk by lending to a property with legal issues.
Legal problems faced during the legal verification process include:
- A break in the Registry chain of title
- Conditional Ownership
- Multiple buyers
- Hidden wills
- Survey disputes on site.
- Area mismeasurement on site/Property.
- Properties mutataion not updated on government records.
It is important to note that if any of these legal issues are discovered during the legal verification process, it does not necessarily mean that the loan will be rejected. However, the borrower needs to work closely with the lender to resolve any issues that may arise to secure the loan.
Overall, the legal verification process is an essential step in the loan process designed to protect both the lender and the borrower. Ensuring that all legal issues are addressed helps mitigate risk and ensure that the loan is approved promptly.