Selling an "Assume Balance" car

**Lnsbm** · October 17th, 2018 02:34 AM

Originally Posted by bulletred

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?

**dreamur** · October 17th, 2018 07:56 AM

Originally Posted by Lnsbm

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.

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