Can banks give you a home loan for a house & land that's sold as a company?

[jakow]

I'm assuming the answer is no, but I figured I'd check here just to make sure. We previously asked the person at our bank this question and she said no, but we've gotten incorrect info from her before which is why I'd like to see if anyone here has any knowledge of this.

 

There's a private residential area that my wife and I really like that would be great for our family, but all the houses are foreign owned and are only sold as companies. We currently have a standard home loan through SCB for our family's house, if that makes any difference. Would/could a bank give a normal home loan for this type of company-to-company sale? If not, are the fees for transferring the home from a company to an individual significantly higher than company-to-company? I suppose we could pay the additional fees, but if it would be too much then we'd have to pass.

 

Thanks for any info!

[Delight]

To answer some of your points.

Company to Company. I  suspect that you mean acquiring a property that is already in company.

This is a very low cost transaction. The current  foreign controller of the existing   company can only sell that which he/she owns-the share allocation and 100% of the voting rights. These will be sold for the price of the house/land.

After the money is in  the sellers  bank account ,the he /she has to sign may papers. 

 

All these events will take place in a lawyers/accountants. The last thing to do is pay the lawyer /accountant.

In my view  an accountant is better and cheaper. cost about 10,000 Baht.

The land office is not involved with this style of transaction.

 

Transferring ownership from  Thai to another Thai will involve the land office and fairly high fees will be involved.

 

Remember a foreigner cannot own the land which the house is sitting on-hence the use of the company work around.

Witch ever way you proceed an Chanote -land title deed -will be involved.

Typically this deed can be retained by the bank as security.

The decision to lend by the bank will be a consequence of the bank's view that you can service and pay back the loan-or not.

If the company route is used and you default a court will probably rule that the bank takes the company.

I not not a lawyer . If the bank cannot do this then maybe they will not lend.

 

Easier for the bank if the property is in a Thai name. However this can be complicated if the land office  realizes that you are paying for everything

 

You really need to speak to a bank manager.