Annonymous

Today even more raining than on the 30th...Pattaya beach road must be really xxxxxx up by now.

pictures please!

In Pattaya my old companies slogan was 'we find you a property free of charge'

"we find you a property free of charge" OH REALLY?! maybe you forgot to mention the 1000 or 2000 bahts from the rent that goes to the agency each month!!!

by the way the OP is interested in properties but doesn't state their budget, what they are looking for or anything on a forum where there are many owners possibly looking to rent and maybe contact him direct.... it goes back to the old saying 'you can't help anyone when they don't want to help themselves'

Cheers

Long-term rental of a small European-style independent house with garden, budget is 20k max. Anywhere from Pattaya, East-Pattaya (would like to avoid busy Soi Khao Noi if possible), Jomtien, East-Jomtien (Soi Chaiyapruk is good) to Na-Jomtien and even farther...

From what I have already visited, I have reasonable expectations but still have preferences for large non-barred windows, bright colors, modern style.

Anyone with a house that'd match please feel free to send me pictures!

I've been looking for lots of Pattaya properties recently, and a few dozen websites and a good hundred mails/calls later, I've noticed that it's a common "scam" to showcase a cheap, amazing property incredibly well located, which is shown as "Available" on their website, but when you actually inquire about it they will tell you that it has been already sold/rented and will offer you to show you other properties instead.

At this point they got your email, name and phone number, for a property that is NOT available and which they won't remove from their website even after pointing them out that it's still displayed as "Available" on their website despite being not available.

Those other available properties they'll suggest are either much more expensive, or either pure shit, at least compared to the one you inquired about.


As a result I find it really difficult to browser properties online as you never know if it's really available or not. I also tried to go out and drive for hours going from Moo Baan to Moo Baan, and it's an horrible research job as most of the time when you see "FOR SALE/RENT" sign with a phone number and try to call it, the number is either unavailable or nobody answers. Then if somebody answers he or she barely speaks English, and if the price is right then you'll have to wait for them to come down to show you the house, which might take 30 minutes to one hour (!) waiting in the sun (!!) or just come back again at a later time... which is also kind of difficult for anyone not speaking Thai to set up such meeting at a later time...

Also, I've visited most agencies in Pattaya/Jomtien and I can say that their catalog is very limited to only a few percentage of the houses on the market. I'm pretty sure that all agencies together cover no more than 1000 house properties, while I'm sure that the real amount of properties for rent/sale is more like 10 000...

When searching a property through an agency you're limiting yourself to 10% of the available properties on the market, that's a true fact.

What prices are you talking about? I have never noticed any increases just because of high season

rents?

Just a thought but could you not do a deal with the Condo and get the 80% from the bank, buy the Condo then sell the condo back to them for cash and then buy the house. As far as the bank are concerned you are paying back the loan.

If this is really possible then it would be great! but aren't they some regulations forbidding me to do that? I've heard that when selling a property in Thailand they check that there aren't any mortgage on it before processing...

If you want to get started down the road of buying a house here for your wife and don't have a lump sum of cash, the best thing is to buy offplan from a reputable developer. You normally pay something like "x" for deposit "y" for contract and then while the house is being built 6 monthly payments of "z" which normally takes you up to anywhere between 60% and 80% of the price (remember also the completed house will already probably have a higher value at that point).

At that point, having demonstrated an ability to pay, you can either contact the developer's bank, or another bank for a smaller percent of loan (lower risk for the bank). You can sometimes arrange developer finance if banks fail to bite, but I would discuss the possibility of that early on.

Ok thanks for the advice! I believe I need to find a nice Moo Baan where the developer offers finance, correct?

By "low risk investment", you mean low risk for the farang who can stop paying anytime he wants. Guess what that scenario is for the bank....yes, it is "high risk". THIS is exactly why the bank is not interested

You could say the same for condos then. I can stop paying for a condo "anytime I want". So why does the bank accept to lend me money to buy a condo, but not a house?

In both case it's a low risk for the bank because they own the property and if I stop paying they still have the property and can sale it.

anybody who has money in the bank should appreciate that it is not being lent to people on so casual a basis.

PLEASE make yourself a favor and watch this documentary:

Banks NEVER lend your money. When making a loan the money is CREATED (from nowhere) and then DESTROYED once fully "refunded".

Am I missing something here?? Why do you need to go to a bank for a loan. You stated you withdraw up to 100,000 baht a month for 4 years. That is ..... working on my calculator......carry the one....4,800,000....!!

No need for a loan you should have 3 or 4 million in the bank. Unless of course your wife has quit working because your income just barely covers her new monthly spending.

Maybe introduce her to the word "save" as in let's save up for our house in 4 years we will be able to pay cash for it. Just curious how much she has sunk you for...i mean....asked for in the value of her house.....very nice places can be had for less than a million baht...but I get the feeling your wife wants a 10 million bahter...

Yes you're missing something here. The cost of an exciting life!

I don't need to explain myself but you should know that traveling a lot has a serious impact on any saving you might accumulate. Also, living like a poor and avoiding plane tickets for the next 4-5 years might be an option for you, but personally I worked hard to have the file that I have now and it would be really difficult to switch to a 5k baht/month room rental, eat only cheap thai food (no olive oil, no salmon, no strawberries, no avocados or anything a little fancy here), no occasional car rental, no flights whatsoever to anywhere (no visits to the family and friends in europe, america, etc.) and pass the time for 4 or 5 years to finally recover a rich fulfilled passionate life... Doesn't worth it! It would be 5 lost years!

In regard to my wife, I know that in Thailand it's common practice to provide financial help but mine doesn't need it, she actually helps by paying her things with her own money. She never asked anything. The only thing that I pay for her is the plane tickets which she couldn't afford. Buying a home in her name is totally my idea as I can't own a land, and I'm really bored of condos!

I don't work in Thailand, I'm on a Non-O visa (marriage).

Stable income from business aboard.

Looking for 90% financing.

Hold on.

You have a short visa, no Thai income, no security and yet you want a Thai bank to lend you 90% of the value of a house in Thailand that you cant legally own?

And you wonder why they tell you to #!%$ off?

Personally if I was a bank I wouldn't lend you more than 50% even for a farang-name condo purchase, but then I'm the sort of prudent person who doesn't cause global financial meltdowns, so what do I know?

Pardon? I have a Non-O visa which allows me to stay ad vitam eternal in Thailand without ever leaving the country by extending it on a yearly basis, and you call this a "short visa"? Are there any longer visas than mine and if so what are they???

Second, no Thai income? I withdraw to my Thai bank account near 100 000 baht each month for almost 4 years and you call this "no Thai income, no security"??? What exactly do you need to consider it a "Thai income", that it must come from a local company? What's the difference anyway? It's still money coming in regularly. What do you mean by "no security"?

Lastly, "if you were a bank", thank god you're not! Kasikorn already offered me to finance 80% of any condo under 6 million baht that I would be interested in, so the problem doesn't come from my profile but from my preference of a house rather than a condo. Also, you should know that money is created from loans, meaning that the bank doesn't see its capital impacted by 1 baht when providing a loan of any amount. When you "refund" the loan you actually increase the bank's capital. This is a complex (and sad) financial reality that I'm sure you've heard of a few years ago with the popular "Money as dept" documentary.

Cheers

If you pull 100,000 baht every month from your Thai bank account why do you need a loan that is a lot of money to support a Thai wife and child unless the child is going to a private school why not get a personel loan from your own Country if you can show good income you should not have a problem !!!!

I'm not sure if I could get a loan (30 years) for a property on the other side of the world! I could probably get a personal credit with installments on a few years, but not a real loan to buy a house... and even that I'm not sure as I don't live there anymore (while I have an income from there my official address is now in Thailand registered with my embassy etc.).

Hello,

Sorry to say but they (Thai) under 18 cannot legally own the land, they are not considered an adult yet. The local laws may not allow them to own it, but the parents can give the land to them but they still can't do anything until 18 or 25 y/o which confuses everything. I have bought for my child a fair amount of land but it is in the Thai parents (wifes) name. Hope this helps you some.

Thank you for the reply!

Get your wife to work.

Stall in a market, roadside, working as a cleaner, anything at all.

As long as she can prove an income of 15k a month or more for six months, she can apply for a home loan.

The 15k a month must be paid into a bank account every month, even if it gets spent later that month.

They will check her place of work exists, they won't check her place of work actually generated the 15k deposits.

Thanks for the advice! Would this really work? My wife worked many years in a pharmacy but stopped working as she's now looking after our child, which is a fulltime job by itself so she's likely to not work again for many more years!

Won't they call and check that she's really working there? They don't ask any employment contract or anything related? That seems a bit surprising...

There must be a special deal for married couples foreigner/thai, I can't believe they're not interested by this market!

Condos suck!

Could the reason be that a Thai bank will lend you money for a condo and not a house be because you don't own land with a condo.

On the other hand, a house would sit on land that you are unable to own and the rug could be pulled from under your feet at a moments notice and obviously a huge risk to a lender.

Well I suggested them that the loan would be in my wife's name, and that I would be her sponsor, but that didn't work out either

In this situation I provide the money to my wife, who gives it to the bank, and in case of payment failure on either side the bank would have full power to take over the land and house.

I don't work in Thailand, I'm on a Non-O visa (marriage).

Stable income from business aboard.

Looking for 90% financing.

Hold on.

You have a short visa, no Thai income, no security and yet you want a Thai bank to lend you 90% of the value of a house in Thailand that you cant legally own?

And you wonder why they tell you to #!%$ off?

Personally if I was a bank I wouldn't lend you more than 50% even for a farang-name condo purchase, but then I'm the sort of prudent person who doesn't cause global financial meltdowns, so what do I know?

Pardon? I have a Non-O visa which allows me to stay ad vitam eternal in Thailand without ever leaving the country by extending it on a yearly basis, and you call this a "short visa"? Are there any longer visas than mine and if so what are they???

Second, no Thai income? I withdraw to my Thai bank account near 100 000 baht each month for almost 4 years and you call this "no Thai income, no security"??? What exactly do you need to consider it a "Thai income", that it must come from a local company? What's the difference anyway? It's still money coming in regularly. What do you mean by "no security"?

Lastly, "if you were a bank", thank god you're not! Kasikorn already offered me to finance 80% of any condo under 6 million baht that I would be interested in, so the problem doesn't come from my profile but from my preference of a house rather than a condo. Also, you should know that money is created from loans, meaning that the bank doesn't see its capital impacted by 1 baht when providing a loan of any amount. When you "refund" the loan you actually increase the bank's capital. This is a complex (and sad) financial reality that I'm sure you've heard of a few years ago with the popular "Money as dept" documentary.

Cheers

There are plenty of houlier than thou know it all posters like kitten kong around here. i'm just surpised it took so long for one to pipe up..

what are you saying? don't understand

If anyone still wanna advise on any particular bank or loan offer that would let us buy a house it'll be much appreciated. Thanks!

I don't work in Thailand, I'm on a Non-O visa (marriage).

Stable income from business aboard.

Looking for 90% financing.

Hold on.

You have a short visa, no Thai income, no security and yet you want a Thai bank to lend you 90% of the value of a house in Thailand that you cant legally own?

And you wonder why they tell you to #!%$ off?

Personally if I was a bank I wouldn't lend you more than 50% even for a farang-name condo purchase, but then I'm the sort of prudent person who doesn't cause global financial meltdowns, so what do I know?

Pardon? I have a Non-O visa which allows me to stay ad vitam eternal in Thailand without ever leaving the country by extending it on a yearly basis, and you call this a "short visa"? Are there any longer visas than mine and if so what are they???

Second, no Thai income? I withdraw to my Thai bank account near 100 000 baht each month for almost 4 years and you call this "no Thai income, no security"??? What exactly do you need to consider it a "Thai income", that it must come from a local company? What's the difference anyway? It's still money coming in regularly. What do you mean by "no security"?

Lastly, "if you were a bank", thank god you're not! Kasikorn already offered me to finance 80% of any condo under 6 million baht that I would be interested in, so the problem doesn't come from my profile but from my preference of a house rather than a condo. Also, you should know that money is created from loans, meaning that the bank doesn't see its capital impacted by 1 baht when providing a loan of any amount. When you "refund" the loan you actually increase the bank's capital. This is a complex (and sad) financial reality that I'm sure you've heard of a few years ago with the popular "Money as dept" documentary.

Cheers

Name on mortgage should match name on chanote paper so your wife needs to get it. It is possible (but harder) with you as guarantor as long as your finances are in order. Easiest if your wife has a good and stable income.

Children can own land but not if any debt on it, so only put in kids name if you pay without loan.

Thanks for the info!

Wife doesn't work so it's a no go, I'm the only one with good stable income!

IF you work in Thailand with work permit, reasonable salary, yellow house registration etc, most banks will give you at least 50%.

Usually, if you want more you'll be hit with a hefty insurance which is really just tea money.

It also depends on how long you've been married.

If you are in Pattaya it might be different for obvious reasons.

Minors can't own land until they are 20.

Thanks!

I don't work in Thailand, I'm on a Non-O visa (marriage).

Stable income from business aboard.

Married for one year.

Looking for 90% financing.

TMB offers 90%: https://www.tmbbank.com/personal/homeloan/tmb-homeloan-en.php

Kasikorn only 80%: http://www.kasikornbank.com/EN/Personal/Loans/KHomeLoan/Pages/KHomeLoanKasikorn.aspx

The best place for this would be in the 'Real Estate, housing, house and land ownership' forum. That is where I always go to discuss this sort of thing and get some good advice.

http://www.thaivisa.com/forum/forum/59-real-estate-housing-house-and-land-ownership/

Thanks, went there, did that, got no answer. Came here, got answers.. haha!

Look at it from the bank's point of view. The house would be the property of your wife or child, neither of whom presumably have the means to keep up the monthly repayments. You're asking the bank to lend money to another person on the basis of your income. The bank has to ask itself the question whether you are going to disappear off to farang land after a while and leave them with another non performing loan. Since a condo would be your property they have more faith that you'll stick around and keep up the payments.

I happen to know that the number of repo'd properties that Thai banks have on their books is a factor in their reluctance to lend money.

I understand. But can't the bank just resale the house in case of missing payments?

Any workaround for me? I don't intend to "disappear off to farang land" ^^

The woman who I talked to at the Kasikorn branch in jomtien told me that "TMB" bank might provide me with a loan for a house, anyone knows if it's true?

Sorry if this is not the good section, perhaps it would be more appropriate in the "General" forum? Feel free to move it, thanks!