Owner Is Willing To Finance.

[Chuckler]

Hi all,

Never before owned property in LOS, but one has caught my eye with this attractive catch-phrase:

Owner is willing to finance.

What %age do you imagine this to mean? I know from previous dealings that private finance here is much more expensive than in Australia (where I have some experience buying and selling property).

[HowardJohnson]

It will vary.

Usually 50-70%

[Chuckler]

It will vary.

Usually 50-70%

Thanks HowardJohnson, I was unclear - I meant the %age interest rate on the financed amount.

[Khun Jean]

Now that is a difficult to answer question.

In Thailand it is vry common to pay 3-10% per month for loans. If the owner is from this environment you are in for a shock.

If the owner is a 'normal' person that uses the bank rates as a guidance you can expect anything between 7-15% yearly (Bank is around 7-8%). Will also depend on the downpayment i guess.

[tangoll]

If you are a foreigner buying Thai property, getting it financed by a local owner might not be doable, because to purchase and transfer the property into your name, you need to show the Land Office the Foreign Exchange Transaction certificates showing that you imported foreign funds into Thailand of sufficient amount to cover the full price of your purchase.

[ray08]

If you are a foreigner buying Thai property, getting it financed by a local owner might not be doable, because to purchase and transfer the property into your name, you need to show the Land Office the Foreign Exchange Transaction certificates showing that you imported foreign funds into Thailand of sufficient amount to cover the full price of your purchase.

Sounds very correct , also where a owner is financing a property or giving a rental gurantee ,you will be paying for it

normally in the purchase price at top dollar

[Chuckler]

Alright great, thanks all. I think I'll rent. :-)