Friday, April 24, 2009

I'm trying to buy some land in Sri Lanka. Finding it difficult to understand the jargon. Can someone help?

I need to apply for a loan to buy the land. The bank want a lot of details before i apply for the loan. I have the land deed. And the loan officer tells me that because some of the land records are decayed that it might effect the loan. He want a tilte report prepared before he can tell me final word. I am wondering if the deeds are decayed whether the land is worth buying in the first place. I have no experience in buying land or applying for loans. If you can give me details of the process that is involved or poin me to a resource that gives details. I'm constantly worried because i dont have experience i might be cheated. I can this be prevented. What should one lokk for in a land aprt from the location and the price (esp. with regards to the legal status)


You have the deeds before you have bought the land? This sounds like a con trick without going any further into it, consult a solicitor. Unless you can afford to lose the money give it a miss.

No comments: