Buying Real Estate Through Bank Auctions

[Doisaketmoobaan]

Anyone have any experience buying property this way? We recently went to a bank auction sale and it seemed to be a great way to purchase property at a discount. They say they will finance 80% based on value?-R

[dr_Pat_Pong]

Anyone have any experience buying property this way? We recently went to a bank auction sale and it seemed to be a great way to purchase property at a discount. They say they will finance 80% based on value?-R

Houses or condo's, and are you employed in Thailand ?

[Doisaketmoobaan]

Anyone have any experience buying property this way? We recently went to a bank auction sale and it seemed to be a great way to purchase property at a discount. They say they will finance 80% based on value?-R

Houses or condo's, and are you employed in Thailand ?

All including commercial buildings. and no I am not currently employed in Thailand-R

[dr_Pat_Pong]

Anyone have any experience buying property this way? We recently went to a bank auction sale and it seemed to be a great way to purchase property at a discount. They say they will finance 80% based on value?-R

Houses or condo's, and are you employed in Thailand ?

All including commercial buildings. and no I am not currently employed in Thailand-R

I presume that you are using a corporate structure to do these projects, is that correct ?

[Doisaketmoobaan]

Anyone have any experience buying property this way? We recently went to a bank auction sale and it seemed to be a great way to purchase property at a discount. They say they will finance 80% based on value?-R

Houses or condo's, and are you employed in Thailand ?

All including commercial buildings. and no I am not currently employed in Thailand-R

I presume that you are using a corporate structure to do these projects, is that correct ?

Thats the plan what other means are there?

[dr_Pat_Pong]

Anyone have any experience buying property this way? We recently went to a bank auction sale and it seemed to be a great way to purchase property at a discount. They say they will finance 80% based on value?-R

Houses or condo's, and are you employed in Thailand ?

All including commercial buildings. and no I am not currently employed in Thailand-R

I presume that you are using a corporate structure to do these projects, is that correct ?

Thats the plan what other means are there?

You need to be talking to a lawyer now. You'll need Thai shareholders. Lenders are usually reluctant to lend to an unemplyed foreigner.

[chanchao]

Anyone have any experience buying property this way? We recently went to a bank auction sale and it seemed to be a great way to purchase property at a discount. They say they will finance 80% based on value?-R

Houses or condo's, and are you employed in Thailand ?

All including commercial buildings. and no I am not currently employed in Thailand-R

I presume that you are using a corporate structure to do these projects, is that correct ?

Thats the plan what other means are there?

You need to be talking to a lawyer now. You'll need Thai shareholders. Lenders are usually reluctant to lend to an unemplyed foreigner.

Nothing to say really, just looking to see how far we can nest quotes. ;-)

Well, alright then: Keep in mind that the bank staff themselves will pick up the best deals for themselves first. Making friends with some could be worthwhile. (They'd still get some commission or whatever for their assistance, but you'd be higher up the chain.)

Cheers,

Chanchao

[Doisaketmoobaan]

Anyone have any experience buying property this way? We recently went to a bank auction sale and it seemed to be a great way to purchase property at a discount. They say they will finance 80% based on value?-R

Houses or condo's, and are you employed in Thailand ?

All including commercial buildings. and no I am not currently employed in Thailand-R

I presume that you are using a corporate structure to do these projects, is that correct ?

Thats the plan what other means are there?

You need to be talking to a lawyer now. You'll need Thai shareholders. Lenders are usually reluctant to lend to an unemplyed foreigner.

Nothing to say really, just looking to see how far we can nest quotes. ;-)

Well, alright then: Keep in mind that the bank staff themselves will pick up the best deals for themselves first. Making friends with some could be worthwhile. (They'd still get some commission or whatever for their assistance, but you'd be higher up the chain.)

Cheers,

Chanchao

This will be some really neat artwork Thanxs guys-R

[john b good]

Anyone have any experience buying property this way? We recently went to a bank auction sale and it seemed to be a great way to purchase property at a discount. They say they will finance 80% based on value?-R

Houses or condo's, and are you employed in Thailand ?

All including commercial buildings. and no I am not currently employed in Thailand-R

I presume that you are using a corporate structure to do these projects, is that correct ?

Thats the plan what other means are there?

You need to be talking to a lawyer now. You'll need Thai shareholders. Lenders are usually reluctant to lend to an unemplyed foreigner.

Whilst it might not be too clear to Thai lenders it might be a whole lot safer to lend to an unemployed foreigner.

The reason they have got all the properties on their books is becaue [/b] Thai borrowers defaulted on their loans in the first place [/b]

This in turn was a major reason that 56 Thai finance companies went through (leaving just one operating in 1997) and also that the Asian Financial crisis kicked in on 02 July 1997

"nuff said"

[dr_Pat_Pong]

The lenders consider that unemployed foreigners are too portable. Any sign of problems and they go ex jurisdiction.

[john b good]

The lenders consider that unemployed foreigners are too portable. Any sign of problems and they go ex jurisdiction.

Agreed, but in actual fact they are still a better (safer) bet than a goodly percentage of Thais.

Maybe I am a slow learner but I would just love to get some of the thousands (hundreds of thousands) of Baht which I have loaned to some nice Thai people. I don't lend one satang now, with out some collateral or in the case of it being a female (and I get at least one plea for "help" meaning money a week) I tell them to happen by and work it off.

At least thataways I can sleep better knowing that it was not a loan that is unlikely to be honoured.

[dr_Pat_Pong]

The lenders consider that unemployed foreigners are too portable. Any sign of problems and they go ex jurisdiction.

Agreed, but in actual fact they are still a better (safer) bet than a goodly percentage of Thais.

Maybe I am a slow learner but I would just love to get some of the thousands (hundreds of thousands) of Baht which I have loaned to some nice Thai people. I don't lend one satang now, with out some collateral or in the case of it being a female (and I get at least one plea for "help" meaning money a week) I tell them to happen by and work it off.

At least thataways I can sleep better knowing that it was not a loan that is unlikely to be honoured.

Gentlemen borrowers need not apply. I like the idea. Let me know if the queue of lady borrowers gets a bit long for you to handle.

[Ajarn]

The lenders consider that unemployed foreigners are too portable. Any sign of problems and they go ex jurisdiction.

Agreed, but in actual fact they are still a better (safer) bet than a goodly percentage of Thais.

Maybe I am a slow learner but I would just love to get some of the thousands (hundreds of thousands) of Baht which I have loaned to some nice Thai people. I don't lend one satang now, with out some collateral or in the case of it being a female (and I get at least one plea for "help" meaning money a week) I tell them to happen by and work it off.

At least thataways I can sleep better knowing that it was not a loan that is unlikely to be honoured.

Gentlemen borrowers need not apply. I like the idea. Let me know if the queue of lady borrowers gets a bit long for you to handle.

Here! Here!

[john b good]

The lenders consider that unemployed foreigners are too portable. Any sign of problems and they go ex jurisdiction.

Agreed, but in actual fact they are still a better (safer) bet than a goodly percentage of Thais.

Maybe I am a slow learner but I would just love to get some of the thousands (hundreds of thousands) of Baht which I have loaned to some nice Thai people. I don't lend one satang now, with out some collateral or in the case of it being a female (and I get at least one plea for "help" meaning money a week) I tell them to happen by and work it off.

At least thataways I can sleep better knowing that it was not a loan that is unlikely to be honoured.

Gentlemen borrowers need not apply. I like the idea. Let me know if the queue of lady borrowers gets a bit long for you to handle.

Here! Here!

Maybe there are some good people here (on the forum) and your offers help out if the going gets too tough are an indication that this so.

My faith has been restored somewhat.

[dr_Pat_Pong]

The lenders consider that unemployed foreigners are too portable. Any sign of problems and they go ex jurisdiction.

Agreed, but in actual fact they are still a better (safer) bet than a goodly percentage of Thais.

Maybe I am a slow learner but I would just love to get some of the thousands (hundreds of thousands) of Baht which I have loaned to some nice Thai people. I don't lend one satang now, with out some collateral or in the case of it being a female (and I get at least one plea for "help" meaning money a week) I tell them to happen by and work it off.

At least thataways I can sleep better knowing that it was not a loan that is unlikely to be honoured.

Gentlemen borrowers need not apply. I like the idea. Let me know if the queue of lady borrowers gets a bit long for you to handle.

Here! Here!

Maybe there are some good people here (on the forum) and your offers help out if the going gets too tough are an indication that this so.

My faith has been restored somewhat.

I love the sentiments. True friends will always lend a hand in circumstances like these. A friend in need .....

[cutethaigirl]

Baht which I have loaned to some nice Thai people. I don't lend one satang now, with out some collateral or in the case of it being a female (and I get at least one plea for "help" meaning money a week) I tell them to happen by and work it off.

JBG

You may find money lending on the list of employments 'not open to aliens'

[maerim]

I love the sentiments. True friends will always lend a hand in circumstances like these. A friend in need .....

Well this friend always says (after kissing goodbye to loads of money) to a friend on the earhole.

Two things happen when you lend money to friends.

One is you lose your money, two you lose your friend as well.

You on the other hand are too good a friend to lose,you get to keep your money and they get a backhanded compliment.