Should i buy my fiancee's apartment?

[Old Fool]

I'm at Luang Prabang airport now and getting ready to fly my fiancee home to USA from Bangkok.

 

Her Bangkok mortgaged apartment has about 300,000 baht to pay it off which is probably 90%+ left on the mortgage.

 

I told her I would buy it for her daughter to live.

 

I'm worried that I may get into a mess by buying instead of paying the 3000 baht per month payments. I'm not concerned about the 300,000 baht so much, just don't want to get screwed over.

 

Any suggestions?

 

As always, thanks.

[jackdd]

If you want to buy it only do this if it will be in your name then.

If it stays in her name it's a good idea that you just pay the monthly payments while you are together

[Kwasaki]

[Esso49]

3 hours ago, jackdd said:

If you want to buy it only do this if it will be in your name then.

If it stays in her name it's a good idea that you just pay the monthly payments while you are together

And of course for you to buy it must have a foreign quota and/or some unused foreign quota allocation

[Ks45672]

Username checks out

[baansgr]

Don't buy it

[Andyfez]

So many mean and cynical replies.....?

From what you say I would assume this type of apartment cannot be owned by a foreigner - anyway I suspect you don't want to own it.

The only way you can be sure the money goes to the right place is to hand it over yourself, or get a lawyer you trust to handle it for you.

 

I agree 300,000 isn't a huge amount of money, so you haven't got a lifes savings to lose here. But if you're frightened of being taken advantage of so early in a new relationship.....

 

Good luck.

[catman20]

16 hours ago, jackdd said:

If you want to buy it only do this if it will be in your name then.

If it stays in her name it's a good idea that you just pay the monthly payments while you are together

if she is your fiancee  and your into her, pay it off for her as a gift as you say, your not worried and it and its not a fortune. dont listen to all the cheap charlie, bitter TV members here that have been ripped off by their hookers.do something nice.

[Peterw42]

You are asking 2 separate questions, Buying the apartment in your name (a real estate question) and/or paying off the GFs mortgage (a relationship question). If you "buy" it (presuming you can), its your condo. If you pay off her mortgage its her condo. Everything else is a relationship issue.

People can probably advise as an investment or real estate purchase but we cant really advise on your relationship.

 

You may want to consider that assets acquired prior to marriage are yours (or hers). assets acquired after marriage are marital assets and subject to 50/50 split. Pay of her condo now and its hers forever, pay it off after you get married and its a martial asset.

[CharlieH]

Wait until the "fiance" is "the wife" then reconsider the question.

[Deli]

Iy you cannot register it in your name, hands off.

Better gamble in Vegas with the $, the chance of winning is higher than having any return form the condo, if not legally yours.

[Emster23]

10 minutes ago, catman20 said:

if she is your fiancee  and your into her, pay it off for her as a gift as you say, your not worried and it and its not a fortune. dont listen to all the cheap charlie, bitter TV members here that have been ripped off by the hookers.do something nice.

I'm sure most farangs that have been hoodwinked by Thai women (doesn't have to be hookers) didn't think "Oh, I am being a fool here, but not alot of money so that's okay".

Is she in a rush for you to do this before you are married? That would be red flag, as you would have difficult time getting anything back in case of divorce. Who brought this subject up? Not greatest question as we can be "steered" towards certain considerations.

The amount of money is less important to me than the possibility I am being manipulated and/or used. 

If this passes the sniff test, then do it.

[lopburi3]

300k is less than many pay in Sin Sot and family will be finished with payments for rent/mortgage (and the real chance things could turn sour and they loss everything).  If she is willing to move to another country with you and leave her daugher do not believe you are getting screwed over; and even if that turned out to be the case it is not that much money.

[inThailand]

The smart money would say make the monthly payments at minimum or take ownership of the condo. 

 

I am assuming it's a condo not an apartment, since there is a mortgage. 

[catman20]

15 minutes ago, Deli said:

Iy you cannot register it in your name, hands off.

Better gamble in Vegas with the $, the chance of winning is higher than having any return form the condo, if not legally yours.

hes not looking for a return hes trying to do something nice

[Peterw42]

49 minutes ago, Andyfez said:

The only way you can be sure the money goes to the right place is to hand it over yourself, or get a lawyer you trust to handle it for you.

 

Yes you can pay the money straight to the mortgage/bank etc. But 2 days later the property (in her name) could be re-mortgaged, borrowed against, sold etc.

[chicowoodduck]

On your way out of the airport, do not forget to pick up your brain....you might get lucky and they will be showing the movie Dumb and Dumber on your flight....be happy you are not the star of the movie.....lol...??

[catman20]

20 minutes ago, Emster23 said:

I'm sure most farangs that have been hoodwinked by Thai women (doesn't have to be hookers) didn't think "Oh, I am being a fool here, but not alot of money so that's okay".

Is she in a rush for you to do this before you are married? That would be red flag, as you would have difficult time getting anything back in case of divorce. Who brought this subject up? Not greatest question as we can be "steered" towards certain considerations.

The amount of money is less important to me than the possibility I am being manipulated and/or used. 

If this passes the sniff test, then do it.

i hear what your saying but the OP said

 

 

I told her I would buy it for her daughter to live.

 

so it sounds to me like it was his idea.

[inThailand]

6 minutes ago, Peterw42 said:

Yes you can pay the money straight to the mortgage/bank etc. But 2 days later the property (in her name) could be re-mortgaged, borrowed against, sold etc.

Which is what her family will pressure her to do and most likely without telling you. 

[klauskunkel]

instead of a diamond ring...

[hobobo]

35 minutes ago, catman20 said:

hes not looking for a return hes trying to do something nice

He's never mentioned "doing something nice", but he did say he didn't want to get screwed over. The "doing something nice" has only come out of your mouth.

[dotpoom]

13 hours ago, Esso49 said:

And of course for you to buy it must have a foreign quota and/or some unused foreign quota allocation

Is his fiance not a Farang..he is flying her home to the USA...therefore no problem with quota?

[rumak]

1 hour ago, Emster23 said:

If this passes the sniff test, then do it.

I have been in a position to kiss more than a few lovely thai ladies.   Unfortunately as I got closer to them they did

not pass the sniff test.     ooh, that garlic and pa la   !

[4MyEgo]

I would assume you are wanting to pay it off for her as she will be coming to live in the US with you for a while ?

 

My answer to your question would be, don't go all in, i.e. pay the 3,000 baht per month on it while she is with you in the US, if the relation last till you have paid it off, all and good.

 

If the relationship goes south and doesn't work out, you can stop payments after she returns, i.e. give her two months max to find a job and re-establish her self to be able to make the payments, after that, it's not your problem.

 

Have you looked at other options, i.e. she can rent it out, no pressure on your pocket.

 

Just some thoughts as too many blokes go in too early and it ends up costing them more and more in the long run.

 

By paying her monthly rent, you are setting a benchmark which can only go upwards, that said, if she is going to be looking after you and not working while she is the US, then you should also provide her with some money, i.e. make up the difference into her account, say another 7,000 baht per month into her account, rounding it off to 10k per month.

 

I have been married to a Thai for 11 years, she gets looked after because she looks after me, all on top of the love naturally, and when I am gone, she will have enough to last her till she is 100 quite comfortably, now 36 years of age, but I control the finances and she if fine with that, if she wasn't, she would be looking for a new ATM so to speak. 

[4MyEgo]

I would assume you are wanting to pay it off for her as she will be coming to live in the US with you for a while ?

 

My answer to your question would be, don't go all in, i.e. pay the 3,000 baht per month on it while she is with you in the US, if the relation last till you have paid it off, all and good.

 

If the relationship goes south and doesn't work out, you can stop payments after she returns, i.e. give her two months max to find a job and re-establish her self to be able to make the payments, after that, it's not your problem.

 

Have you looked at other options, i.e. she can rent it out, no pressure on your pocket.

 

Just some thoughts as too many blokes go in too early and it ends up costing them more and more in the long run.

 

By paying her monthly mortgage, you are setting a benchmark which can only go upwards, that said, if she is going to be looking after you and not working while she is the US, then you should also provide her with some money, i.e. make up the difference into her account, say another 7,000 baht per month into her account, rounding it off to 10k per month. But before doing all of the above, confirm the mortgage is actually a mortgage as you wouldn't want to be getting fleeced early.

 

I have been married to a Thai for 11 years, she gets looked after because she looks after me, all on top of the love naturally, and when I am gone, she will have enough to last her till she is 100 quite comfortably, now 36 years of age, but I control the finances and she if fine with that, if she wasn't, she would be looking for a new ATM so to speak. 

[murraynz]

2 hours ago, catman20 said:

if she is your fiancee  and your into her, pay it off for her as a gift as you say, your not worried and it and its not a fortune. dont listen to all the cheap charlie, bitter TV members here that have been ripped off by their hookers.do something nice.

many men DO  get ripped off by women in thailand , who are not 'hookers' ??

giving sizeable sums of money to any woman is NOT  clever...think again.

im not bitter,not a cheap charlie--just realistic...

[micmichd]

18 hours ago, jackdd said:

If you want to buy it only do this if it will be in your name then.

If it stays in her name it's a good idea that you just pay the monthly payments while you are together

Don't forget about the daughter. 

Both (your fiancee and her daughter) .might need a condo when they get older. Make sure they can stay there if they need it. 

Thai ladies usually work and get a job. And they don't forget who helped them. Keep in your mind they (at least one of them) might survive you. So you won't regret it if you buy the condo. 

[LomSak27]

300,000 Baht? - Hell man. you are getting off cheap. Pony up the money, if your little appendage is worth it. 

[Krataiboy]

I told her I would buy it for her daughter to live.

 

Do you normally break promises?

[bankruatsteve]

The OP's main concern seems to be getting "screwed over".  It's not clear how by paying off the mortgage makes it a possibility to get "screwed" versus making the monthly payments.  Are you worried about the daughter or the fiance doing the potential "screwing"?  Is the daughter a student, have a job, or just sitting on her ass and waiting for mom to give her money?  Any financial decision should be based on a realistic view of whether it is an investment to the future or a loss that isn't even appreciated - just expected.