Important CAUTION : Laminating Property
Documents..!
Most of us are tempted to get the
documents laminated so as to preserve them.
"We had our property documents
laminated for their safe keeping. This was years ago.
Recently we tried for a bank loan by
mortgaging the property docs. At the final stage of verification of original
documents, the Bank Lawyer flatly refused even to look at the documents saying
that they are laminated. The reason being that, since they are laminated, the
original documents cannot be differentiated from the colour photocopies.
Appears, it was a hard learned truth
as the Bank was duped by the colour photocopies of the original documents, duly
laminated and presented.
We were asked to get the documents
de-laminated ! else forego the loan.
The concept of de-laminating was
something like "OMG, Is it possible ?" to us. We started searching
those who can de - laminate documents.
The internet gave us the address of
one at Lahore in Pakistan. That apart, we got another person in Bangalore who
quoted Rs 3500 per document, with 20 documents on hand, we were looking at cool
70 K for de -lamination. We were about to be robbed.
At last we could find some one at
Mysore who agreed for Rs 500 per paper. We rushed to Mysore from Bangalore, got
them done. The whole experience has left us with lot of knowledge.
We have a lesson here. Please do not
laminate the original property documents. The Banks will not touch them. No
loans can be taken on them. Even the buyers would hesitate at the time of
sales.
Further, Please be careful while receiving
such laminated documents in a transaction. Whilst browsing, I have also come
across where the people have run into Visa problems while submitting the
laminated mark sheets, degree certificates."
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