Info about buying a house in Thailand

[Confuscious]

My girlfriend showed me on Saturday a mail from a friend of her who is selling her house.
The price was not expensive.
It's a free standing townhouse (1 bedroom & 1 bathroom) near a river.
My girlfriend asked me if I would buy this house for usm and I said "Yes", but under the condition that I could out a 30-year lease on it.
Whch she agreed.
Are there any other things I need to consider before buying this house?
TIA

[Yellowtail]

No, that sounds like it. 

 

You've already agreed, so go ahead with it. 

[Will B Good]

Seriously.....never, ever buy in Thailand.....RENT.

[biervoormij]

Don't put more money into this than you can afford to lose. Even with a 30 year lease you may want to walk away from it at some point.

[Will B Good]

2 minutes ago, biervoormij said:

Don't put more money into this than you can afford to lose. Even with a 30 year lease you may want to walk away from it at some point.

Spot on.

[OneMoreFarang]

34 minutes ago, Confuscious said:

near a river.

Check about flooding!

 

 

[Don Chance]

What will happen when you split with your GF?

If you want to move who will buy a 20 year lease from you? Probably hard to sell unless in a tourist area.

[FritsSikkink]

Buy a house for a girlfriend, what can possibly go wrong.

[BritManToo]

1 hour ago, Confuscious said:

Are there any other things I need to consider before buying this house?

Only 1 bedroom .........

Where is her mother going to sleep?

[KhunLA]

1 hour ago, BritManToo said:

Only 1 bedroom .........

Where is her mother going to sleep?

NO...where's he going to sleep.

 

I always bought houses for my GFs in the USA ...

... sure he does also.

 

LET THAT SINK IN .... take as long as you need, don't hurt yourself.

[Delight]

Suspect that you are better off with a Usufruct.

This legal device will be granted from your GF to you.

if organised properly the it expires on your death.

of course you have to want to stay there for the rest of your life.

 

you could -as an alternative -buy it thru a company.

That is what I would do-subject to local land office approval.

 

I attach a document giving more detail relating to this process

 

 

 

 

property via company - no third parties.docx

[chuang]

Buying house, land etc etc for your wife/gf never never ask for advice or opinion in this forum.

The answer is obvious..

[Yellowtail]

6 hours ago, Don Chance said:

What will happen when you split with your GF?

If you want to move who will buy a 20 year lease from you? Probably hard to sell unless in a tourist area.

Not that hard to sell a lease in a good location. 

[Hummin]

14 hours ago, BritManToo said:

Only 1 bedroom .........

Where is her mother going to sleep?

She sleep on floor same room as norm 

[Hummin]

10 hours ago, chuang said:

Buying house, land etc etc for your wife/gf never never ask for advice or opinion in this forum.

The answer is obvious..

in my opinion, same as asking should I buy btc now on this forum. Should be a 50% chance to succeed. Maybe a little bit better chance investing in btc right now and get out before 50k usd when that happens, if it happens again. 

[Confuscious]

My girlfrieend send me pictures of the house today.
It looks really nice and cosy.
Ready to move in.

 

[ThaiLawOnline]

There are several options for you.

 

1) Lease

2) Usufruct, for lifetime

3) setting up a company

4) making a mortgage 

 

but what people do not write above is:

 

a) what kind of title deed is the land, On some title deeds, you can not register a lease, a usufruct, a mortgage or put it under a company.

b) it is better to add contracts and not just make one. Example, a Usufruct could guarantee you to use the land and house for lifetime, but better to add a MOU to explain what would arrive in case of separation, divorce, etc.

 

Into the usufruct, you need strong clauses that she can’t sell, mortgage, transfer, etc. Without your authorization and also that you can keep the title deed into your possession. The land department has some forms of Usufruct but they never have these clauses. So use a lawyer with experience in real estate that can explain you all of that as you might spend a lot of money and contracts or legal advice is not very expensive.

 

c) you might want the full package and add Last Wills into your documents in case something happens….

 

You can send me a pm if you wish.

[Pmbkk]

 

Don't do it unless you've been living together for a couple of years - and I don't mean popping over once every six months.

 

If not there's a significant chance you're going to be kissing that money + the doing-up money goodbye once all is  complete - regardless of any document.