RealityCheck

Hi Chownah.

Thanks for your response. It's certainly something I hadn't considered and is worthy of further investigation.

I would be surprised if the authorities were to consider the half a dozen emails and 1 or 2 phone calls to the USA and Europe I make every day as "working in Thailand". However TiT and one never knows.

However, I take your point. I should be careful how I explain my situation to those I'll be dealing with.

And yes - I would welcome all thoughts on this subject from other posters here.

RealityCheck

Hi Everyone.

My partner and I are planning to buy a house in Khon Kaen.

I have spent the last week or so reading through the posts on this sub-forum in order to get as good an idea as possible before embarking on the project. There are numerous very helpful posts here and, I have to say, some good advice to avoid pitfalls. However, in general (as a newbie) the whole business of 30 year leases, usafructs, chanotes, etc is quite confusing. It's because of this that I've posted, in the hope that by explaining what I believe to be a good way forward, some of the more experienced of you will point me in the right direction if you feel I'm making a mistake or don't understand something fully.

OK - some background:

I'm from the UK.

I came to Thailand 14 months ago, living here on a Non-Imigration "O" visa.

Have lived with my Thai b/f for the same period.

I have little in the way of savings, so need to do this via a mortgage.

I have no property in the UK (or elsewhere).

I tele-work to USA where I am the owner and sole employee of a company that is 6 years old.

I tele-work to Europe where I am the owner of a company that is 2 months old (co-owned by my brother).

I do not work in Thailand.

My b/f is a student at one of the universities here in Khon Kaen.

Since being in Thailand, we have rented a variety of properties in BKK and Chonburi and now in Khon Kaen (where we've been for the last 4 months).

There are a wide variety of "building projects" here in Khon Kaen, and I intend to take my time looking around for exactly what we want. It looks as though we can get a nice place for circa 3.5 mil Baht. I would like to be in residence between 8 and 12 months from now. I have read a few posts regarding peoples bad experiences buying off-plan, however I assume this problem can be minimised with appropriate research into the history of the developer. I'm, sort of, hoping that buying from a developer will make the finance side easier.

I understand (or at least believe) that farangs can not own land but can own the house.

I would intend to use a company like Sunbelt to handle the legal side for me including obtaining a usafract, if it could be arranged. I'm not sure, yet, what will be available regarding land leases, usefracts, etc when buying from a developer. The sales representatives I have talked to (via my Thai b/f as my Thai is poor to non-existent at the moment) indicate that it is all "no problem" and "very easy". I think a healthy dose of scepticism is probably appropriate here!

The main problem I see, however, is getting suitable finance given my work situation. Any documentation that comes from my companies, either in the USA or Europe is by it's very nature provided and ratified by me (because they are essentially one-man-bands).

Is anyone able to advise what, in this case, documentation might be required by the banks in order to secure a mortgage here? In the past in the UK, as a self employed individual, I have been able to "self certify" my income for the purposes of getting mortgages. However, I fear that the same will not be an option here in Thailand.

Any advice or pointers would be greatly appreciated at this point. I want to enter into discussions/negotiations with the various parties (developers, banks, lawyers) with as much knowledge as possible.

Thanks.

Phil.