Assisted Support Services
TAKE THE FIRST STEP. WE WILL DO THE REST.
Customer Support Terms & Policy Effective Date:19.Nov.2025
Who We Are:
chennaibankauction.com is managed by authorized recovery agents with over 12 years of vast experience in handling Non-Performing Asset (NPA) properties. We are empaneled with major financial institutions to assist in the recovery and sale of properties under the SARFAESI Act.
Our mission is to identify suitable buyers, educate them on auction procedures, guide them through e-bidding and loan processes, and facilitate a transparent transaction between the Bank and the Buyer.
Scope of Your Paid Subscription (Information Only)
As a paid subscriber to chennaibankauction.com, you are entitled to the following Information Services:
Access to Listings: Full login access to view daily listed auction properties.
Sale Notices: The ability to download official Bank Sale Notices.
Direct Bank Contact: Access to the contact details of the Authorized Officer, Bank Manager, and Branch address as listed in the public sale notice.
Note: The standard subscription covers the provision of data and information only. At this stage, the subscriber is expected to contact the bank directly using the details provided in the Sale Notice.
Assisted Support Services (Free Add-On)
We understand that many subscribers may lack the time or technical expertise to coordinate directly with banks, arrange site visits, or navigate the complex e-auction documentation strictly for the specific banks listed in Section 5.
To bridge this gap, we offer Assisted Support Services for specific banks. This service includes:
- Coordination of physical site visits.
- Arranging/providing property Documents.
- Assistance with Auction Tender/Bid forms.
- Guidance on E-Bidding procedures.
- Consultation on loan procedures for SARFAESI properties.
The “Client Letter” Requirement
Our Assisted Support Service is provided at no additional cost (Zero Brokerage) to the subscriber. However, providing dedicated staff, logistics for site visits, and administrative support involves significant operational costs.
To sustain this free service, customers utilizing our support must sign/submit a Client Letter (Authorization Mandate) to chennaibankauction.com.
Why is this mandatory?
Zero Brokerage: We do not charge you brokerage or extra service fees.
Bank Referral: This letter informs the respective Bank that you were introduced and supported by our agency.
Remuneration: Upon a successful sale, the Bank pays a standard referral/service fee to our agency. This covers our operational costs (staff, logistics, internet, etc.).
Mandatory: If you are unwilling to provide the Client Letter, we are unable to provide personalized site visits or documentation support. You may still proceed by contacting the bank directly using the data from your subscription.
List of Supported Banks
We strictly provide Assisted Support Services (Site visits, Docs, Guidance) only for the banks where we are officially empaneled or have authorized working relationships.
We currently support:
Limitations & Exclusions
Non-Listed Banks: For any bank not listed in Section 5, chennaibankauction.com provides information only (via the Sale Notice). We do not organize site visits or handle documentation for these institutions. Subscribers must contact the bank's Authorized Officer directly through the listed sale notice.
Liability: While we guide buyers through the process, the auction participation is subject to the terms and conditions laid out by the respective Bank's Sale Notice. The final discretion of sale lies with the Bank/Authorized Officer.
Legal Disclaimer & Due Diligence
While we support the auction procedures for the empaneled banks, chennaibankauction.com is strictly NOT responsible for legal verification or Due Diligence.
Buyer’s Sole Responsibility: It is the sole responsibility of the buyer to verify the legal title, encumbrances, property tax dues, electricity dues, and physical boundaries of the property.
"As Is, Where Is" Basis: Please note that Bank Auctions are conducted on an "As Is, Where Is" and "As Is, What Is" basis. The Bank and the Recovery Agent sell the property based on available records.
No Legal Funding: We do not bear any costs regarding legal verification. We do not pay for document handling charges, xerox copy charges, courier charges, legal opinions, lawyer fees, or Encumbrance Certificate (EC) charges.
Mandatory Verification: We strongly advise all buyers to verify the property documents with their own independent lawyer before participating in the auction or paying the EMD (Earnest Money Deposit). kindly Read Disclimer.