Home loan - payment to seller or buyer

Ria (Querist) 21 March 2012 This query is : Open
Respected experts,

1) Please advice as to who receives the payment cheque after depositing the registered agreement between buyer and the re-seller in the bank for home loan, the buyer or seller ?

2) Does the bank on deposit of the sale agreement simultaneously and immediately pay the loan amount ?

3) What guarantee does the bank give to seller have that the seller will get his payment after lodging the registered sale agreement in the bank from where the buyer has availed a home loan ?

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