Jump to content

Recommended Posts

Posted

Wife and I live in Korat. We went to Sattahip with my stepson and his wife. I love the area. We decided to look for land to own and build a house. We found a 2 plot area with total size of 210 wah. Put down a deposit and will pay it off before end of January. We had looked at house designs and builders on the net and figure we could easily afford about a 4-5 million construction cost. I figured that I would pay about 1/4 down and finance the rest of the cost. I am being told now by a friend that no bank in Thailand will lend to a foreigner. The bank loan would have to be in my wife name and seeing she has not worked in Thailand for 10 years and has no assets in her name (until January when the land will be in her name), her loan would be refused. This seems wrong as we have our retirement IRA in Charles Schwab worth over $300K. I do not plan to move from Thailand as I have sold all assets in USA. I have not been to a bank yet. Any suggestions other than holding the land for a couple of years then selling or raiding the IRA and take the tax bit to pay for the house in cash?

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.



×
×
  • Create New...