Purchasing land with a cash cheque

Member since 12 December 2016

Laurie LeeMember12 December 2016 16:46:28

Hi all,
My wife and I ( Londoners) are about to complete
on a land purchase in south Sri Lanka. We are buying from a Local ( villager ) and our agent has just
informed us The seller wants the money in cash...having a little google and it seems this isn't as mad as it first appeared. Having said that Wer obviously not going
to Rock up with a bag of rupees. He has suggested a compromise of a "cash cheque" .
Any experience/ advice in this area would be much
Appreciated!

Cheers

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Superman man Active member

Member since 04 July 2013

Superman manActive member12 December 2016 16:55:28

Hi,

Make sure land is transferred to your name. As per sri lankan new law foreigners cant buy lands on there name. You have to buy for a locals name then u can buildup. Please check everything before you make the payment.

ChristopherHH Active member

Member since 12 March 2014

ChristopherHHActive member12 December 2016 16:59:02

It's not unusual to pay cash in Sri Lanka. It is counted and witnesses in front of both parties and a receipt is signed by the vendor and witnessed by the lawyers.

Buying property by foreigners is not simple or straightforward in Sri Lanka. I hope that you have a very good experienced and honest lawyer.

Laurie Lee Member

Member since 12 December 2016

Laurie LeeMember12 December 2016 17:11:11

Hi mate,
All good, my wife is half Sri Lankan and we have family / good legal council.
Thanks a lot for advice!

Laurie Lee Member

Member since 12 December 2016

Laurie LeeMember12 December 2016 17:22:20

Hi Christopher,

Thanks a lot for advice. My wife is half Sri Lankan and my father in law ( Sri Lankan) is 51 % share holder
So all good in that front.
Unfortunately we will not be able to be there for completion so we need to find the quickest
Route to complete the transaction.will have to look into the cash cheque option I think.
Thanks a lot pal

rila Active member

Member since 22 May 2012

rilaActive member09 January 2017 00:50:19

Better do the deal through a reputed Legal firm.

samsrilanka Active member

Member since 12 April 2012

samsrilankaActive member12 January 2017 17:34:07

Sorry for the delay, if it's any good to you, an alternative may be to pay your (reputable) lawyer by cheque in his or his firm's name, get a proper receipt which clearly states what the money is for, and you are fairly safe, because if anything happens, you can go directly to the Fraud Bureau and/or Criminal Investigation Department (depending on the amount of the money involved)instead of the local police, because those two agencies work very fast in rectifying problems for foreigners and/or land frauds.

Your lawyer could then pay the seller any way they wish.

Good Luck!