The lawyer will ask the buyer's bank

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To transfer ownership to a buyer, you must have the original grant. When you first got a loan to buy a house, you pledged this original grant to the bank. To cancel the collateral and release the grant, the lawyer must carry out the Discharge of Charge process. real estate agent How do you do it? Let's say a buyer buys your house for RM100,000. Your debt is RM60,000 with CIMB.


The buyer uses a Maybank loan. (Maybank) to first cameroon whatsapp number database pay your remaining debt of RM60,000 to CIMB. Once you have paid the debt, your bank (CIMB) will release the lien and give the original grant to the lawyer. 3) Transfer of ownership The lawyer then transfers ownership and registers the buyer's name as the new owner. The buyer will then pledge the grant to their bank (Maybank).


4) You receive the sales results The lawyer then asked the buyer's bank (Maybank) to pay the remaining house price. In the example above, it is RM40,000 (RM100,000 house price minus RM60,000 debt that has been paid). The lawyer will receive the payment and pay it to the seller. Enjoy the process? Frequently Asked Questions 1) Why do banks need grants as collateral? Of course they want a guarantee that the borrower can repay the loan.