Owning a house

[geroreilly]

Hello,

I am working and living here as an expat.  I want to buy a house and was hoping someone could give me the latest information on how a farang can go about this.  I am not looking for a Condo.  

I have actually found a house (from plans - not built yet) and want to investigate all options.  I have heard of setting up a company but the counter side to that is that the company must be run by 51 per cent Thai nationals.  Other is to get my Thai GF to buy and to set up long lease with her.  

How about getting a loan from a Thai Bank?  My salary would cover repayments OK but would they loan to farang?  House price is 5million.....

Any advice, suggestions etc would be apprecaited.... thanks

[dr_Pat_Pong]

Go talk talk tp a lawyer ...it is a complex issue ...don't rely on well meaning advice...the situation varies from case to case

[lopburi3]

And make sure the lawyer is independent.

[sevinnow]

From my experience with Thai banks, they will lend on property to farangs with a limit upto 50% of the valuation.

As you are working here (legally we assume) you will have a regular income into your bank account so the bank know your personal cash flow, this is essential for them to even consider it.

As for the lease, with a good english speaking lawyer you will have no problems having it drawn up for 30 years, BUT make sure the WORDING is "Your RIght TO Renew" the lease NOT "Option to extend" as this is more in favour of your rights.

The above info although very short is based on my personal experience and hope it helps.

Regards

Sev

[geroreilly]

Thanks for the advice guys.  Looks like I have to go get some legal advice.  Anybody recommend anyone from personal experience?