Bank Auction properties are preferred by the buyers. The reason being bank auction property is normally available at 20% discount compared to market rate. Most of the properties are auctioned under SARFAESI Act or Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
The biggest concern is the title of the property. In case the title of the bank auction property is clear, there is NO legal dispute and bank is in the physical possession of the property then the buyer can go ahead and participate in bank auction.
This video discusses the steps to participate in bank auction. If you liked this video, You can “Subscribe” to my YouTube Channel. The link is as follows
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