Dear brothers
I have finalized a plot purchase deal and now have to pay the amount to the seller. I have funds available in my A/C in Pakistan and thinking to send a cross cheque to seller name. Is this the right mode of payment? If not, what would be best way?
Note:- I am out of Pakistan and do not have online access to my account.
Jameel replied on Tuesday, September 27, 2011 06:28 PM
Pay order sometimes also called cashier's Cheque is best way of making payment.it is safe both for seller and buyer.
In cross cheque the seller can tell you to wait till amount reaches his account or Cheque is cleared, this proposition might not be acceptable for you. He can run anywhere without transferring the plot, or he might get sick or die or Kidnapped or play with you psychological war.
The best way is Pay order
1. You Make a Pay order in the name of seller it means bank has taken money from you account and now bank is behaving as third party.
2. Give Copy of pay order to seller one or 2 days forehand
3. If seller Likes he can confirm from the Bank that pay order is not fake
4. On the day of transfer you give original pay order to seller exactly at the the time when transfer papers are being signed.
5. You take a receipt of pay order and in transfer deed reference of Pay order amount and number with Bank and branch is already mentioned. which both parties sign.
99% deals are done like this and this is the best way. |
Mian_Naeem replied on Wednesday, September 28, 2011 01:52 AM
thank you Jameel for the detailed answer. |
abc123 replied on Wednesday, September 28, 2011 03:05 AM
Request to the Administrator ............ Please keep this post in the "Most Informative Section" of the discussion board.
Thanks |
LRE Hot Topics replied on Wednesday, September 28, 2011 04:34 AM
Post added to useful posts list. View MORE Useful Posts Click on >>> LRE Hot Topics |
