Wednesday, September 10, 2014

What is Seller Home Loan Balance Transfer, how to do it?

Mr. Naveen has stuck with his home loan process when he came to know that the seller is having a home loan on the property and he is not having the funds to pre close it. As Mr. Naveen many customers don’t know how to resolve this situation and find themselves in a dead end, but banks do have a product for those who buy properties from owners with home loan already on the property and the product is termed as “vendor liability” or “seller home loan balance transfer

The process is same as like a normal home loan where the applicants submits the personal, income and property documents along with additional documents like vendor loan account statement, outstanding letter and List of documents deposited in the bank. The process will be done by verifying the personal and income details of the applicants. The panel advocates verify the legality of the property by scrutinizing the documents and by verifying the details in sub registrar offices.

Once all the verifications are positive banks start the process of disbursing the loan by collecting checks and signatures on home loan agreement. Banks first disburse the outstanding loan amount of the previous bank in which the seller is having a home loan. Banks gives the owner the complete responsibility to bring the original documents back and register the property to the purchaser. Once the property is registered in the name of the purchaser the remaining loan amount will be disbursed to the seller.

The process of Seller home loan balance transfer is same as like a normal home loan balance transfer with one small difference i.e the process gets completed in 15 days where in normal home loan BT gets completed in week days of time. Banks offer same home loan interest rates for seller balance transfer cases as of a normal home loan and these home loans are also covered for Income Tax benefit Under Section 80(c) of Income Tax Act.


  1. is it possible to do seller BT on unregistered property?i want to know if the seller has not yet registered the property then is seller BT be possible on that property

    1. Yes, Even if the property is not registered on the seller name then also Seller BT can be done by the way of an assignment agreement.

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  2. Hi, nice and Valuable information, This information means a lot for me, As I am the person who is looking a lot for this home loans in Hyderabad. Hope getting these loans with much better options can reduce the stress in Future.

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  4. hi all, great information. also wanted to know that what is mod charges ? somebody told me baks are charging MOD charges equivalet to .3% of home loan amount ? Can anyone please clarify

  5. Thank you for sharing this blog.Can you apply for loan with Finfree Enterprises, you can easily apply to avail low interest personal loans. Use the funds from the personal cash loans& meet your fiscal needs.

  6. seller b. t. option is possible right now. please give details and bank name. who can

    1. Axis and PNB doing Seller BT
      Ajeet ,Delhi

  7. Thank you for sharing this information. It has helped me to know more about home loan details

  8. Hey thanks for this amazing post. Would love to read more of such blogs. You can also have a look at home loan details for more information.


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