Anyone able to confirm the procedure?
I know that land transactions here are often done on a nod and a wink with large sums of cash passing between parties. I know that the majority of the land sales are soft title and that more often than not no lawyers are required merely the presence of witnesses who have sufficient digits to provide thumbprints.
What is the actual procedure to transfer title?
Is is something along these lines:
1. Pay initial deposit of $x with balance to be paid within 1 month or so and receive thumbprinted contract confirming that the seller will have to compensate by three times the deposit amount if he sells to somebody else.
2. Pay balance within the specified time and receive contract confirming sale together with a copy plan, in the case of hard title, indicating the location of the plot.
3. Go to Sangkat with contract and copy of hard title plan to have transfer done to name of Khmer citizen.
Are these the essential conveyancing steps? In the case of hard title what is the fee, if any, to transfer from seller to buyer? Is there a standard fee or is it a case of a public servant trying to extort as much money as possible out of the purchaser?
Thanks in advance for responses