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Buying a house via the company route - is it still possible?

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57 minutes ago, KhunHeineken said:

Floor area, or committee, it's still lipstick on a pig, but I wish the member well trying to off load his properties in the current climate. 😂

If you're referring to me I guess you have already forgotten that spouse and I recently sold, to the first buyer, and in less than a month, the house we had for sale. And, yes, at a profit. Thai buyer, bought it as an investment. There are still Thai buyers for houses and condos and foreign buyers for foreign quota condos in 'the current climate'. Nothing else for sale--for now.

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  • Not all follow the path that you walked down. My wife and I have bought and profited on several properties here. In addition I have my kids living in California since university graduation. Kids calle

  • Anyway, why risk it?

  • scubascuba3
    scubascuba3

    My cleaner has a farang friend he panicked and transferred his house to her, better gamble. I wouldn't touch thai company name houses or condos

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24 minutes ago, KhunHeineken said:

Yes, definitely a suckers game.

How many right now would be considering selling their shares in their Thai company to their Thai lady for 1 baht, so they don't get arrested, and think they will still be able to live in their property? 😂

An illegal company doesn't protect them at all. If wife kicks them to curb, what is there alternative ? Sue them in court, and say what ?

We started an illegal company and now I want my share back cheesy

There is little to no piece of paper that protects the farang at all, IMHO. Maybe POA, but need to sell before she does. Best protection is what @BritManToo did, mortgage in her name, so now she's a bit dependent on him, not the other way around.

Rent or buy a condo, not illegal, no worries.

7 minutes ago, KhunHeineken said:

I wasn't sure you knew.

So, the condo board doesn't have to be majority Thai, but the majority of the building must be Thai owned.

Once again, lip stick on a pig.

Getting back on topic, the OP title is "buying a house via the company route - is it still possible?"

Would you advise the OP to buy a house through the company route?

In theory, the majority of a condo building must be Thai-owned but, in practice, with company-owned condos, you can get projects with more foreigners than Thais. The last condo project we owned at had a lot of condos in company ownership and the condo board always had a foreign majority when we lived there. You should also remember this:

Under the Thailand Law Library Condominium Act, a valid Annual General Meeting (AGM) requires attendees or their proxies to represent at least 25% (one-quarter) of the total ownership votes in the building. [1]

So, you don't need a majority of the owners to hold elections at an AGM, just 25%. If all the foreign owners show up at an AGM and represent 49% of the vote and not enough of the Thai owners show up, the foreign owners could outvote the Thai owners.

But, as I said in an earlier post, with experience owning at 15 different condo projects, I never saw a situation where it was Thai vs. foreign. Instead, it was owners who had put a lot of their hard-earned money into their condo and, whether Thai or foreign, they wanted ther investment maintained. That was my experience, some may have had different outcomes, especially in projects with inadequate condo fees.

The biggest AGM disputes I can remember were in condo projects that were being over-run with illegal daily renters, with some owners doing the illegal rentals wanting nothing done and those living there as residents wanting the short-term rentals stopped--with Thai and foreign owners on both sides of the issue.

No, I would not advise the OP, or anyone else, to buy a house or a condo in company name. I have posted a number of times what I think are the advantages of owning a condo in foreign quota,

4 hours ago, KhunHeineken said:

I stand by my assessment.

If not 70%, what percent do you put it at?

Or, are you suggesting no one has ever be scammed out of property here?

I put it anywhere between 60% to 20% because I honestly have no way of determining this. It's obviously not 0%, nor is it 100% as there are several examples of both failures and successes being posted on this website. When did I ever infer that "no one has ever be scammed?"

Edited by donx

4 hours ago, newnative said:

spouse and I recently sold, to the first buyer, and in less than a month

Fire sale, I'll bet. Not that you will admit it.

4 hours ago, newnative said:

There are still Thai buyers for houses and condos and foreign buyers for foreign quota condos in 'the current climate'.

Thai property market in a 4 year decline. (link previously posted) Sure, there are buyers out there, just not as many as in the past, and with many more properties on the market.

1 hour ago, donx said:

I put it anywhere between 60% to 20% because I honestly have no way of determining this. It's obviously not 0%, nor is it 100% as there are several examples of both failures and successes being posted on this website. When did I ever infer that "no one has ever be scammed?"

If it's not 0%, does that not prove my point?

4 hours ago, newnative said:

In theory, the majority of a condo building must be Thai-owned but, in practice, with company-owned condos, you can get projects with more foreigners than Thais.

When those Thai companies are investigated, the complexion of many condo block may change.

4 hours ago, KhunLA said:

There is little to no piece of paper that protects the farang at all, IMHO.

You finally get it.

Hence, don't buy. Simple.

24 minutes ago, KhunHeineken said:

If it's not 0%, does that not prove my point?

No. Your claim is that it is 70%.

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