Buying house from a developer in Phang gna province

[pluto_manibo]

The dearly beloved wants to buy a house from a housing development, which is already well established and almost sold out. We have put down a deposit, however I noticed on the back of the Chanote, it is owned by the bank. The nice lady, at the Sales office also wants us to pay half of the amount before we go to the Land office, which I do not agree with. The whole amount should be paid(cashiers cheque) at the time of signing at the land office, in the presence of all parties involved, therefore the bank representative as well. Am I correct? I wanted to make this straightforward but might need a lawyer(liar)...Any recommendations?

[trogers]

Depends on the portion of the money needed to discharge the bank's lien.

Separate cashier's cheques may be required at the Land office one for the bank and the remaining amount to the developer.

[skatewash]

I agree with you. I see no reason it should be paid earlier than at the Land Office.

When I purchased my condo from the developer in Phuket I showed up at the Land Office with two cashier checks. One made out to the developer. One made out to the bank which held a mortgage on the property. The reverse side of the chanote was updated to show the mortgage was satisfied.

Obviously in the seller's interest to be paid as soon as possible. Obviously in the buyer's interest to pay as late as possible. It's reasonable for the payment to be made at the Land Office by you, at which point you will receive documentation (chanote and tabian bahn) that establish your ownership. Quid pro quo. What do you get if you pay the seller earlier?

Edited May 10, 2016 by skatewash

[1FinickyOne]

already well established and almost sold out does not add up to me... being well established would not come until after it is sold out and been in business for a few years as management team will need tp prove themselves...

enjoy your new home.

[MockingJay]

Ask the lawyer!

[pluto_manibo]

Sorted! Thank you.

[cyberfarang]

Sorted! Thank you.

How will you get around the legalities of buying this house?