HELP! Encumbered CR

[babkalakal]

Yung balak kong bilin na AUV, naka encumbered din, pero may document ng full payment, pero walang release ng mortgage...
He is willing to less 5K para ako na mag-asikaso ng release... Asking lang kung mahihirapan ako sa deal?

had gone to a similar situation. actually in this case yun original na mortgagee sa bank is the one who will have to request or secure a 2nd release of mortgage from the bank where the loan was made.

my opinion is maabala masyado. you have to deal with the bank which in the first place hindi naman ikaw yun mortgagee so im not sure if mag papa authorize ka pa or something then another dealing with the RD to cancel the mortgage then lastly another deal with the LTO this time to transfer the CR to your name.

if the seller is unwilling to at least secure the second release of mortgage themselves then walk away from this deal.

In our case kami rin naman yun mortgagee kaya kami na nagasikaso nun nawala yun release.