Frequently Asked Questions

Know everything about Bank auction properties

Can I be asked to pay past dues for the property after I win in the auction?

For SARFAESI auctions, Yes. For IBC auction, No. Law provides that all IBC sales are free of any charge or dues.

Is my ordered visit report exclusively for me?

Yes, the property visit report will be exclusively available to you. However, Hecta’s algorithm identifies properties to be profiled on an ongoing basis and we can also get the same property profiled for us. In case our algorithm picks the same property for profiling, we will refund the full amount paid by you.

Property I’m interested in does not have a visit report, can I get a report for property of my interest?

Yes, you can request a property visit report which will be delivered within 3 working days, for the cities we cover.

How much I need to pay for this report?

Each report is priced at INR 2,499 for the cities we cover. If the request is for a property that we don’t have coverage, we’ll do our best to find the professional. However, additional travel costs up to INR 7,500 can be added.

What are the dues on the listed property?

Properties can have local or municipal dues. It is in your best interest to do due diligence. You can also choose to get a Hecta visit report which can cover the information on dues, where possible and available.

Who prepares this report?

The report is prepared by skilled and authorized real estate professionals.

Can I rely on this report?

This report has so much information that is factual and helps you make that preliminary assessment. Some of the data can be verified online such a dues on respective utilities’ websites, circle rate from registration and stamps department website. It is done by trained, registered and empanelled professional. However, we encourage you to see the property yourself before buying, given it is a high value transaction.

Can I see the property papers?

Yes. Banks will share the list of all papers available with them and show you all available documents, but you’ll have to visit the branch and meet the authorized officer. Very few banks share copies of documents online.

What is the accuracy of this report?

Visit reports are best-effort compilation of facts and data based on available information and access to the property. This is done by a real estate professional, who is trained and empanelled.

What is Hecta property visit report?

Potential buyers can evaluate properties remotely with Hecta’s property profiling site visit report. It covers details on location, shape, size, pictures, possession details, amenities, market price, among others.