I have applied for a home loan with SBI for buying a resale flat (which is more than 17 years old property), SBI has taken 1) Valuation Fee 2) Searching Fee and 3) Processing fee, and has confirmed that on successful Search and valuation report, they will sanction the loan.
Please tell me what this "Searching" means?
Will this also include non-encumbarnce certificate (for at least 13 years)?
Can i rely on SBI appointed lawyers for the search report? Or do i need to appoint my own lawyer to do the searching?
Since this is a resale flat, i am susceptible about its genuineness, and want be assured that it is free from legal hassles and dispute
Thanks and regards