Bank Auction

Normally bank auction process is initiated when borrower default on 3 consecutive Home Loan EMI's. A notice is served to the customer to respond within 60 days that why the bank should not initiate a auction of property due to default in payment. Borrower can pay the installments and this notice is withdrawn

Bank Auction is done on many categories (Few Examples below)

♦ Residential Flats, Houses and Property

♦ Coemmerical Property

♦ Custom Clearance Items

♦ Many more