It is a good idea not to talk money in Cambodia before you have firmly decided that you want to buy. There is no point negotiating the price down to then say you will go away and think about it, the offer may not be available later. So make sure you are ready to agree when you begin negotiating.
Once you are agreed on a price, it is necessary to put down a deposit of 10% of the total value of the property in order to stop any other offers being accepted. This may mean you have to set up a Cambodian bank account. This will, however, give you and your agent time to make sure that everything is legitimate; that the person you have been dealing with is indeed the deed holder and that the property is definitely suitable for your needs.
There is no public notary in Cambodia responsible for overseeing property transactions which means that employing a lawyer to draw up the sale agreement is integral to successfully purchasing your property. The ownership title can then be transferred into your name and the majority of the money can be transferred.
You are legally obliged to be present on the day the transfer takes place. It is also advisable that the money is transferred to the agent and then to the former owner. The last 5% of the price should only be transferred once you have received the keys to your new property, which usually takes place 2 days after the name has been changed on the ownership title.