Crossing Republic Infra Structure Pvt Ltd
Purchase of Flat in resell already seller having loan, How crossing process the Booking to new Buye

Hi,

I am vijay.

i am going to purchase a flat in main crossing society in GHAZIABAD. This flat is is in resell and still don't have registry and seller having loan [which i get to know later from my dealer about already a loan after payment of black amount to seller] and currently paying his EMI to bank. i have already paid the Black money to seller, and seller issued the cancellation letter to crossing .according to cancellation letter that the amount should be return to seller as seller paid to crossing at time of buying that flat and allocate this same flat to me.

i have given the 10% of booking amount to crossing and now i am taking loan from some bank [ not seller bank ] to pay renaming white money to crossing ..

As there is already a loan going on this same Flat-property as seller have taken loan from bank when he purchased that flat.

Now crossing is saying to me that they made a fresh allotment of flat at my name so bank will not have any objection to issue the loan to me

&for that i am agree.

crossing have allotted this flat on my name as i have already paid the booking amount and they have issued the allotment letter to me.

now i am worried about on one point that now there will be two loan[from seller side and one from my side] on this same property from two different-2 banks, now from my point of view seller should pay and close his loan.

i talked to crossing regarding this, they are saying when I'll pay all white money to crossing then crossing will close the previous loan of seller and pay to seller the remaining amount of EMI 's which seller paid to bank.

can some one tell me who have same case . what is the procedure of crossing to sell a flat in resell which already loan.

Please reply soon as i have very less time...

Thanks

vijay