Wanted condo or villa with seller finance in Thailand

[DoctorJake]

Hi,

 

Am open lo locations in Thailand (coastal preferred) and am looking at buying a condo or villa in price range 2 million to 5 million baht. I would be looking for seller finance, with option to make a down payment and rest spread monthly over several years.

 

 

[kamalabob2]

The OP should be able to select from several homes or villas in Thailand in that price range. If he has proof of income and good credit in the Thai Credit Reporting service a smart seller may offer seller finance. The OP should consider paying for a property appraisal of any home he is interested in buying in Thailand to see if the price is acceptable. This five bedroom home for sale in Buriram does offer seller finance, does have a property appraisal, but is not in the same price range.  https://www.buriramhome.com/buriram-property-appraisal/

[DoctorJake]

Would need to be in the price range that I mentioned.

[pubba]

I see there are a few agents in the Pattaya real estate groupie that are offering finance packages. Did you find what you were looking for? I’m also looking for a finance package on a 2 bedroom condo - hopefully close to the coast. 

[DoctorJake]

Have a few to look at but would still like more choice. Also, wondered how well some well some villas would hold their value given you only have a 30 year lease and need to renew. Compared to a freehold condo.

[Yellowtail]

6 hours ago, DoctorJake said:

Have a few to look at but would still like more choice. Also, wondered how well some well some villas would hold their value given you only have a 30 year lease and need to renew. Compared to a freehold condo.

 

A thirty year lease is a thirty year lease, the only real value is having your rent locked in for thirty years. At the end of the lease term it has no value, as the new lease will be negotiated based on whatever rent the market dictates at the time of the negotiation.

 

At any point within the term it may have value (to someone other than the lessee) if the lease is both transferrable, and the rent is significantly below market value.   

 

You are effectively buying thirty years of rent, which there is nothing wrong with, as long as that's what you want.   

[Mike Teavee]

On 1/5/2021 at 12:00 AM, pubba said:

I see there are a few agents in the Pattaya real estate groupie that are offering finance packages. Did you find what you were looking for? I’m also looking for a finance package on a 2 bedroom condo - hopefully close to the coast. 

Whenever I look at a property on Hip Flat there's always an advert for a Mortgage available to foreigners without needing PR/Workpermit... 

 

 

 

 

From the looks of it, you can only borrow up to 60% of the purchase price & the interest rate looks high... 

 

[bkk6060]

There are many properties now in the Pattaya area where sellers will carry back paper for 7 to 10 years.  The listing agents I know have been promoting this structure to sellers to enhance their chances to sell.

The years and interest rates are negotiable normally with the seller wanting 50% down.

[DoctorJake]

Yes, want a place in Thailand to rent out when not there and also increase in capital value. Have been looking at Jomtien and Koh Samui. I was told by a lawyer and a few brokers that land renewal lease on villa is not a difficult issue (in most case) and many condos are now leasehold as well (30 years - need to renew) - guess will depend case, by case. Does anyone have experience selling at a profit? View which will be best option as an investment in general, a villa or condo?

 

Yes, have seen various financial institutions offering finance, but the rates are high. I think is better to get seller financing as most offer no interest or favorable rates to negotiate between each other.

 

Yes, also many just requiring as low as 10%-25% or (0,5m-1m baht down) - depending on value.

 

Keen to hear other stories. If anyone has any real estate looking to sell then please do contact me.

[Yellowtail]

1 hour ago, DoctorJake said:

Yes, want a place in Thailand to rent out when not there and also increase in capital value. Have been looking at Jomtien and Koh Samui. I was told by a lawyer and a few brokers that land renewal lease on villa is not a difficult issue (in most case) and many condos are now leasehold as well (30 years - need to renew) - guess will depend case, by case. Does anyone have experience selling at a profit? View which will be best option as an investment in general, a villa or condo?

 

Yes, have seen various financial institutions offering finance, but the rates are high. I think is better to get seller financing as most offer no interest or favorable rates to negotiate between each other.

 

Yes, also many just requiring as low as 10%-25% or (0,5m-1m baht down) - depending on value.

 

Keen to hear other stories. If anyone has any real estate looking to sell then please do contact me.

 

Rates are high because the risk is high.

 

Do you have an example of a some of the sellers financing  that "...offer no interest or favorable rates...?

[DoctorJake]

Yes a few offering 5-10 years finance. However, seems they have factored their price into the calculations - around market price with no discount. 

[bartender100]

Good group on FB, I have seen what you require on there from time to time

 

Pattaya Classifieds

[Yellowtail]

14 hours ago, DoctorJake said:

Yes a few offering 5-10 years finance. However, seems they have factored their price into the calculations - around market price with no discount. 

 

Only a fool would provide no or low interest financing on a competitively prices property.

 

Something for nothing usually ends up being nothing for something. 

[DoctorJake]

What do you think about locations? Would a better class of people - say more educated, less crime, more affluent go to Samui than Jomtien? Or the same? Anyone predict which location would be better for growth in real estate values - Jomtien or Samui?

[Yellowtail]

6 hours ago, DoctorJake said:

What do you think about locations? Would a better class of people - say more educated, less crime, more affluent go to Samui than Jomtien? Or the same? Anyone predict which location would be better for growth in real estate values - Jomtien or Samui?

 

There will be properties in both areas that will appreciate greatly and properties that will not. 

 

Anything that includes beach front will do well. 

 

Penthouses with unobstructed ocean views will do well. 

[david555]

On 12/22/2020 at 12:50 AM, DoctorJake said:

Hi,

 

Am open lo locations in Thailand (coastal preferred) and am looking at buying a condo or villa in price range 2 million to 5 million baht. I would be looking for seller finance, with option to make a down payment and rest spread monthly over several years.

 

 

Some are here , just adapt your search options , as on link most Pattaya & surroundings , (from the  time i was still interested , now only curious about the price descending's....????..)

 490 ads Condos & Apartments for Sale in Pattaya | Page 1 | BahtSold.com Baht&Sold

[DoctorJake]

Have a seller needing to leave Phuket that is offering seller finance over 10 years interest free. This is freehold and about 30% under market value - he just wants income stream and seems market i difficult currently. Now it is held in Thai entity so how will that affect me and its future value? I understand I will be a major shareholder 49% of Thai entity but own the property. Has anyone have any experience with this?