[China] - Condo buyers expecting a beautiful lake (as shown in advert photos) turns out to be a sheet of blue plastic on ground

[poore]

why money cannot withdraw?

 

[AhMeng]

why money cannot withdraw?

Can lah. Lol

 

[laksaboy]

Crabs are fake in China.

 

[RogerK]

can make profit but can’t take out the money. that’s exactly what happens to my friend. bought a big house in shaghai when he was posted there as a sexpat. now it’s worth many times more than what he paid. he sold it early this year but the cash is stuck in a prc bank. he’s now back in u.s. and low on cash.

After selling the property in Shanghai, work with the banker on how to move the money out of China. All the banker need is the authorisation code issued by the government department. Once the code is issued, there is a limited window to get the money out.

It may be abit troublesome. But it is simply an administrative process - need to be there a few rounds. Ask you friend to check it out quickly.

I did that when I sold my Shanghai villa.

 

[eatshitndie]

After selling the property in Shanghai, work with the banker on how to move the money out of China. All the banker need is the authorisation code issued by the government department. Once the code is issued, there is a limited window to get the money out.

It may be abit troublesome. But it is simply an administrative process - need to be there a few rounds. Ask you friend to check it out quickly.

I did that when I sold my Shanghai villa.

thanks! he’s working with a bank to get his money out. at first was told authorisation code not granted when he was there for 3 weeks to sell house and transfer proceeds to bank. he may have to go back again and spend another few weeks working the process again.

 

[RogerK]

thanks! he’s working with a bank to get his money out. at first was told authorisation code not granted when he was there for 3 weeks to sell house and transfer proceeds to bank. he may have to go back again and spend another few weeks working the process again.

If he has trouble getting the authorisation code because the window to apply for one expired, PM me and I can share with you another way of getting the money out ... slowly in another country currency. This method is a slow and tedious process but you get the money in the currency you want - no control over the exchange rate though.