Q's Regarding Condo Purchase And Legal Fees

[misterme]

Curious as to members experiences with condo purchases.

I'm looking at buying existing condos (some 10+yrs old) in a few different provinces.

What range of prices should I expect to pay for legal services?

Assuming that I don't go the company route, and put them in my own name, is this a cheaper option? What pitfalls should I be wary of?

Once bought and owned 100%, can I borrow on the value to buy another unit?

I have B non-Im visa and no work permit.

thanks in advance...

Mr. Me

[steve891]

Curious as to members experiences with condo purchases.

I'm looking at buying existing condos (some 10+yrs old) in a few different provinces.

What range of prices should I expect to pay for legal services?

Assuming that I don't go the company route, and put them in my own name, is this a cheaper option? What pitfalls should I be wary of?

Once bought and owned 100%, can I borrow on the value to buy another unit?

I have B non-Im visa and no work permit.

thanks in advance...

Mr. Me

Mr . Me

If you go the company route you will get it cheaper, as purchasing condo's in Farang names are more expencive, and harder to get hold of.

It has been over a year since I brought my condo , if I remember right the legal fees were aprox 80 - 100'000 Baht.

I have a condo I want to sell in Jomtien Beach Pattaya because I want to buy a house , I asked the agents if I could put the condo against the house for a morgage,to do so I would have to put it in my girlfriends name, and even then the chances of getting the loan were very slim...Best option to sell and look for a house.

I also have a Non-Immigrant Type B wothout work permitt.

Good Luck..

[typist]

What range of prices should I expect to pay for legal services?

An international "brand name" legal firm (eg. Baker McKenzie etc) will charge you 3K$ for a simple transaction.

Less with local firms. The amount of hours needed (and billed) may vary, depending on the property and type of transaction.

Forget about the company route for a condo. There is no reason to do this, and compliance can be risky and costly. Freehold in your own name is easier to sell.

Imho your best option for financing is to look outside Thailand (eg. Bangkok Bank and UOB S'pore); they don't care about your visa.

Edited September 27, 2007 by typist

[PattayaParent]

I've bought 2 condos and sold 1 using Thai lawyers and the most I've spent is Baht 7,000 on legal fees.

You don't even need a lawyer to do the transfers, you can do it yourself down at the land office.

Buy a condo in your own name, not in a company name.