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  1. Join Date
    Oct 2018
    Posts
    1
    #41
    Quote Originally Posted by bulletred View Post
    Si buyer hnd sya nag e exist sa bank kaw parin ang naka front at check mo pa din ang naka issue sa bank. Buyer will issue pdc sayo then yon naman ang pang pundo mo for your check. in case of default in payment malalaman mo agad since sayo naka deposit check payment nya. If you have extra fund, shell-out first para wala kang default record sa bank.

    Sa contract to sell lalagay mo naman yung term and conditions mo like 2 months default payment ng buyer kukunin mo ang car. Kaya dapat all documented and notarized.

    Minsan mahirap ang assume balance lalo na pag ang ka deal mo hnd marunong mag bayad...sakit sa ulo.
    Whats the best solution po if the buyer of assume balance na car cant pay anymore?liabilities po?

  2. Join Date
    Feb 2008
    Posts
    12,655
    #42
    Quote Originally Posted by Lnsbm View Post
    Whats the best solution po if the buyer of assume balance na car cant pay anymore?liabilities po?
    The bank will run after the original buyer. But if you signed a notarized deed of sale, the owner can run after you. So better talk to the owner and the bank about your intention to default.

    Sent from my SM-N950F using Tapatalk

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Selling an "Assume Balance" car