The cash snobs strike again...
Obviously Monte Carlo has been overtaken by Phnom Penh, the Charming City
So many wannabes, so little reality.
Purchasing land in CASH?
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I'm no cash snob. I have none. Lawyers have taken what I had. I haven't had a (real) job in over a decade. My last (sort of) job was at a bar/guesthouse in Cambodia with a pay packet that would make an english teacher look rich.
Fact is, every land transaction that I have known about in Cambodia has been in cash. Hell, there are professional cash counters just for that reason.
Fact is, every land transaction that I have known about in Cambodia has been in cash. Hell, there are professional cash counters just for that reason.
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- Making Khmer girls cry since 2003
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I remember hearing that when expats buy property in Panama it's also done in cash. What percent of Cambodians have ever cashed a check or written a check?
Follow my lame Twitter feed: @gavin_mac
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Have you never been the sucker stuck behind the guy/guyess in the bank withdrawing 100K cash? Not fun.
I came, I argued, I'm out
The last place I bought in PP it was all done by cheque. The way to go is to pay the deposit by cheque. The seller then sees it is no problem when it clears, so you should be ok with the balance. The second meeting was at her bank, where she deposited the cheque which was (I assume) verified by the bankers. We spent about one hour at the bank for the balance, it wasn't too bad and overall way safer and more comfy than walking around with bundles of cash, also for the seller, if s/he's not retarded.
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- 440 newbie - handle with care
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you will have to visit the bank with him together! also talk with your bank. Just open a bank account at ABA very easy. and they will also advice and help you for free.
NEVER EVER buy real estate with cash in cambodia. they will scam you! you will need proof of payment and so on! with cash you will not have only a silly thumbprint which they will not recognize! any case and they will dismiss you because you didn't ask your bank for help! So they will say you are the silly foreigner.
don't do it!!
NEVER EVER buy real estate with cash in cambodia. they will scam you! you will need proof of payment and so on! with cash you will not have only a silly thumbprint which they will not recognize! any case and they will dismiss you because you didn't ask your bank for help! So they will say you are the silly foreigner.
don't do it!!
#winningGin&Tonic wrote:I'm no cash snob. I have none. Lawyers have taken what I had. I haven't had a (real) job in over a decade. My last (sort of) job was at a bar/guesthouse in Cambodia with a pay packet that would make an english teacher look rich.
Fact is, every land transaction that I have known about in Cambodia has been in cash. Hell, there are professional cash counters just for that reason.
Rated R for Ricecakes
Great advice - thanks everyone. We refused to do it in cash and they finally agreed to cheque. Every step of the way with this transaction there has been an avoidance of documentation.
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We made all the papers in Sangkat and payed the amount in the bank. The problem could be that you're in one bank and the seller in another, so you have to walk outside with money.
Once money and the title are exchanged the deal is done. Nevertheless the seller signed on the green paper folder that he received the payment.
Once money and the title are exchanged the deal is done. Nevertheless the seller signed on the green paper folder that he received the payment.
- Barang_doa_slae
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Cash is king
Last plot I purchased was in 2013, medium 6 figures amount to a Minister level individual that surely doesn't lack bank accounts but he insisted on a cash payment...
These days I am on the market to sell a piece of land myself, once again a potential 6 figures amount and will absolutely require a bank transfer. I don't want to bear the risk of fakes + I never feel easy driving around with such a sum of cash money.
Last plot I purchased was in 2013, medium 6 figures amount to a Minister level individual that surely doesn't lack bank accounts but he insisted on a cash payment...
These days I am on the market to sell a piece of land myself, once again a potential 6 figures amount and will absolutely require a bank transfer. I don't want to bear the risk of fakes + I never feel easy driving around with such a sum of cash money.
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