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Is it safe to buy auction property? Six things a buyer need to keep in mind

An individual can buy a auction property (also known as distressed property) from a bank. The property will be auctioned and sold to the highest bidder. Before participating in the auction, the individual should keep certain things in mind. This is because an property is being sold in an auction because a borrower defaulted on the EMI payments. ....

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Hc Slams Bank For Auctioning Property Without Clear Title, Orders Refund To Bidder, ET RealEstate

Allowing a petition filed by M/s Paramount Constructions, Justice M Nagaprasanna directed Punjab National Bank (PNB) to pay Rs 30,69,08,217 to the petitioner as the purchase price of the scheduled property, along with interest at the bank’s lending rate and incidental charges. ....

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