Buying house in India remotely

Amazon
Snooflake

Go to company page Amazon

Snooflake
Sep 19, 2020 31 Comments

Considering buying a house for my parents back in India. Unfortunately due to visa issues I cannot travel in 2020.

Is there a way the entire process (loan and flat registration) can be done without traveling physically to India ?

Edit -
We have a property figured out and it is a resale property. It’s in the same area where my parents live so all that research has already been done

Any inputs would be helpful

#housing #mortgage

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TOP 31 Comments
  • Uber
    fuber-tube

    Go to company page Uber

    fuber-tube
    It won’t be easy. There will be possibly a lot of back and forth of documentation via courier/post. Also you may have to give a general power of attorney to someone who you trust who can represent you in registration office and loan formalities. You would definitely need a lawyer in India.

    All this after you have figured out what property to buy (new construction vs resale, flat vs house vs villa vs plot (looks like u decided a flat), etc vs etc). Resale will be more tricky. There are conditions and recommendations to put notifications in newspapers.

    Should be possible but definitely not straight-forward or quick. Will need a lot of time. Property is a very special purchase. You need to careful cautious and 100% satisfied of your purchase.

    Atleast having your parents involved and doing everything while you finance and take responsibility of the loan etc is a good idea.

    Those are some ideas and suggestions.

    All the best.
    Sep 19, 2020 3
    • PayPal
      asdfghjklc

      Go to company page PayPal

      asdfghjklc
      Similar to Facebook, I also did the same. Bought a home in India with loan. Had to notarize and send some documents once.

      I do understand the parents point of being careful though. I think as long as OP knows what they are buying and their parents are involved in the paperwork it should be fine
      Sep 19, 2020
    • Hey Facebook or PayPal. Can I dm you for advice on paperwork?
      Apr 22
  • Amazon
    jefmusk

    Go to company page Amazon

    jefmusk
    I did it 2 years back
    Sep 19, 2020 9
    • Amazon
      jefmusk

      Go to company page Amazon

      jefmusk
      Bought in Bangalore south
      Sep 20, 2020
    • PayPal
      asdfghjklc

      Go to company page PayPal

      asdfghjklc
      Also nowadays there are agents who help you with the paperwork - some of them don’t even take money from you because they get commission from the bank. Usually if you buy in a community of houses it’s a bit easier to find such people because they may be working with other houses in the area. They usually already know the bank manager.

      I have worked with a couple. One was really good and trustworthy and helped me throughout the process to deal with paperwork. the other was really bad - not at all trustworthy and would not respond to call or text for days at a time. YMMV. Make sure to talk to them before moving forward.
      Sep 20, 2020
  • Amazon
    qmmyuuews

    Go to company page Amazon

    qmmyuuews
    I guess you can do that by giving power of attorney to your parents or someone else. There are provisions that they can only buy property on your behalf and not sell it. This will workout easily if you have already selected a house to buy!!
    Sep 19, 2020 0
  • Walmart
    yoyo\m/

    Go to company page Walmart

    yoyo\m/
    Op did go ahead in the process? I am also in the middle of buying an apt in Pune. Need info on loan and PoA
    Nov 24, 2020 2
    • Walmart
      yoyo\m/

      Go to company page Walmart

      yoyo\m/
      (Un)fortunately i dont have this problem as i dont have that much cash yet🤦🏻‍♂️...i have just booked an apt which is under construction..the builder said SBI have agents for NRIs to avail and process loan..if loan does not work will pay cash over 2 years
      Nov 25, 2020
    • Walmart
      yoyo\m/

      Go to company page Walmart

      yoyo\m/
      In and around kothrud. Havent thought about money transfer yet...the project is in very early stage
      Nov 26, 2020
  • American Airlines / IT
    nonrev_1

    Go to company page American Airlines IT

    PRE
    Cognizant, Tata Consultancy Services
    nonrev_1
    @OP, I did it twice 2 years ago in Bangalore south. Make a power of attorney to one of your parents. If you have an NRE/NRO account with any of the private banks they’ll assign you an agent to take care of every documentation and assistance.
    Sep 29, 2020 2