Mortgage free in order to sell a property??...my Thai family say yes...

[falangUK]

1 hour ago, NZAMBOY said:

Well said and very true...I really need to focus on the last part for sure...thanks

So sorry you're going through this 😞. I've been there myself, and honestly, I still find myself stuck in similar situations. People who haven't experienced it just don’t get the pressure or the emotional toll it takes. I really hope you’ve got some friends or family you can lean on. It’s so hard to see things clearly when you’re right in the middle of it all.
 

[ukrules]

Just tell them no, that's not the way it works - and you know how it works now.

 

Any mortgage company will have an outstanding settlement balance that requires paying before they remove their lien from the deed, this is paid by the purchaser.

When making any purchase I've only bought from 'the wealthy' so it's normally very straightforward, they own the land outright, no mortgage and have done so for decades so you simply pop along to the bank and get a bank draft / cashiers check for the right amount then stick it in the wifes name. This is so simple compared to the west where they want to know where the money came from through lawyers - here money really does talk and they don't seem to care at all.

If there's someone who has a lien that needs to be satisfied then get a full completion amount in Baht that needs paying in order for them to remove the lien from the chanote - doesn't matter who they are - bank, friend, whoever - so long as they will remove it for the known fee - you can then get the check to make the payment.

 

So when there's a mortgage with equity in it you get 2 bank drafts/cashiers checks, one for the bank or whoever owns the lien on the property and one for the remaining part of the selling price and that's how it's done - the bank will send someone to the land office to collect payment as mentioned by a few others and remove the lien on the chanote - then it can be sold to a new buyer.

If you think they're lying then get the chanote and it should be printed on the back of it - will all be in Thai but there's a handy app called 'Google Lens' which can translate anything in real time......

If they owe more than it's selling for which is quite possible then that's an entirely different situation.

[scorecard]

3 hours ago, NZAMBOY said:

Thanks for that😀...and yes, i will do just, as  well as invent a story why the money is not available...

 

Sure, tell the wife you lost 99% of your funds to football gambling and tomorrow and every day for the next 20 years you need a loan from her for breakfast, lunch and dinner and you need her to pay rent for you and buy you a nice car.

 

And don't forget that by Thai custom loans of money aren't repayable. so your debt free. 

[Yellowtail]

wind up

[scorecard]

14 hours ago, Yellowtail said:

wind up

 

Agree,you're good at wind up.