This service applies where the seller has an existing mortgage that must be settled before ownership transfer to a cash buyer.
Cash Buyer to Mortgage Seller
Noor Conveyancing manages property transfers where the buyer pays in cash and the seller has an existing mortgage that must be cleared before transfer. We coordinate with the seller’s bank to settle the outstanding loan, obtain clearance letters, secure the developer NOC, and complete the transfer at the Trustee Office—ensuring a secure, compliant, and well-structured transaction for both parties.
Preparing the correct documentation in advance helps ensure that the property transfer process proceeds smoothly and without delays.
Typical Timeline: 30–45 working days, depending on seller’s bank
This occurs when the buyer is paying fully in cash but the seller still has a mortgage on the property.
The seller’s loan must be settled before the transfer can proceed.
The buyer typically issues a manager’s cheque directly to the seller’s bank based on the amount stated in the liability letter.
Once the mortgage is settled, the bank releases the property.
The liability letter is issued by the seller’s bank and confirms:
Usually, the settlement must occur first and the bank must release the mortgage clearance documents before the transfer appointment can proceed.
The conveyancer ensures:
• Correct settlement amount
• Coordination with the seller’s bank
• Correct cheque preparation
