It's not a issue to give a photocopy with an endorsement on it and a received endorsement from him that property documents photocopy was strictly given for their reference purpose only.
Is it ok/safe to give a copy of property documents to a prospective buyer of my property? If not, what if he insists? Will he need the copy for taking a bank loan? Pls guide me on how to handle this situation. Thank you.
It's not a issue to give a photocopy with an endorsement on it and a received endorsement from him that property documents photocopy was strictly given for their reference purpose only.
Hi, you can give a photocopy of the sale deed with crossing on the each page ...The bank loan can be obtained only after you have an agreement with the seller
No one can take loan from a copy of your property documents. But to be on safe side you can give the same to prospective buyer after crossing the same.
You can furnish him inspection of the original documents
copy would be needed for applying for bank loan
Dear sir,
It is safe to give a photocopy of the documents. The buyer may need it for several reasons such as bank loan, drafting sale deed, conducting due diligence etc.
If you want to be extra cautious, you can send the scanned copy on his email specifically mentioning that these are only for this.. this.. and this purpose.
Dear Sir/Madam,
You are suggested to give only the photocopy for reference of the buyer and nothing else.
Hello,
Copy with a mark over it like "cannot be used for any course of work"can be given. He may want to check the documents so it is ok to to give a copy with pages crossed
It is okay to provide copy of property documents to prospective buyers:-
Provided you endorse on copy the purpose of delivering the copy to prospective buyers, date month and year,place and signed by you and prospective buyers.
The prospective buyers may misuse the property documents copy for any legal or illegal activities which may go against you such as he may procure SIM card from any cellular service provider who may be a terrorist which would land you in trouble or may obtain loan from Bank in connivance with Bank Manager etc.
So be careful and act wisely.
Give a copy to the prospective buyer by striking off each page with endorsement "for bank loan purposes only".
Yes it is okay to give copy of documents to prospective buyer because he may need to get the documents verified from bank for purpose of loan.
- Yes, you give a copy of your property documents to the buyer , it will not harm you legally.
- He cannot take loan only on the photo copy of the documents , as it has no value in the eye of law.
- However, if you having doubt over the buyer , then you can give him copy after just put a cross .
Dear Client,
You dont not to need to give Original Documents before entering into an agreement. You may give him only Copies of the sale deed. If any one wants to have a loan, the bank demands Original Sale Deed or certified copy of the same.
If you apprehend any misuse, you may exercise caution while handing over photocopy of the title documents.
Do not handover the attested copy;
Make an endorsement in the corner of the document stating this photocopy is given for the purpose of just reference only.
Cancel the documents and then give the property papers to him.
He needs to show it to the bank so that the bank grants him loan if the property papers are in order.