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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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.
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
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.