Buy New House?

[brianmarinus]

Hello!

My woman and me wont to buy a new house and pay a deposit on 430.000 baht,and then the bank turned us down,and now the house firm say,the will keep the 430.000.?

Can that be right???

An what to do???

Brian

Edited March 23, 2010 by brianmarinus

[BWPattaya]

Have a look at the agreement/contract you signed (assuming you did sign one). That was a big deposit, it is usually a lot less. Anyway, the likelihood is that you will lose your deposit, after all, that is what a deposit is. You pay the deposit so the firm will reserve the house for you until you pay the final payment. If you haven't paid then you have broken your contract.

There is no point in writing here what you should have done.

Good luck

[skybluestu]

Hhmmm, tricky situation as a deposit is usually non-refundable. Maybe you could try another bank or have a chat with the tourist police although I doubt they could do much, worth a try though! And maybe post in the housing forum too.

Edited March 23, 2010 by skybluestu

[richardt1808]

yes, I have to ask why the deposit was so large ?? Normally, developers will only charge around 30-50,000 on new projects.

[lioness]

When paying a deposit 10% is normally correct, however if you were requiring finance then the deposit would ( or should ) have been paid subject to finance being approved and a period given for this, i.e. 30 days. This would have been written up on your agreement to purchase, If you did this correctly then you would be entitled to your refund back.

If not then I would say it's goodbye to your deposit unless you can talk them into refunding it or at least a part of it as a goodwill gesture.

[H2oDunc]

I smell a scam. How long have you been with your woman and surely you did all this through a lawyer and not just on your woman's say so ?

[dindong]

Perhaps you can sell your interest in the house.

Someone can finance you to complete the purchase and then, they buy the house from you at a discount.

You will still loose some money but not all.

[kandahar]

Brian, I'm sorry to hear of your misfortune. Truly, when you offer the deposit, you are usually guaranteeing that you will buy the house and therefore, preventing the firm from offering it for sale to others. In effect, you are requiring the firm to remove it from the market and in doing so, you are causing them the potential loss of sale to another buyer.

On the old forum here, concerning these types of matters, the advice is usually to get a lawyer. In your case, that may or may not be the proper thing to do. The Thais are pretty good at avoiding lawyers in these things and instead, they use the system that has been in place for years. Perhaps, you can use it as well. In every community and sub community, there is a "head". Many people go to that "head" with their problems and let him represent them in their dispute. Typically, he carries some clout and if he has enough clout, or has strong enough connections to those that have the clout, the matters can often be resolved.

I think your wife is Thai. If she is a local Thai, she may well have contacts/acquaintances that can intervene or her contacts and acquaintances may have higher connections that they can use. If the "head" is not receptive to your problems, maybe you can find another influential person that is. Government workers in almost any capacity have the contacts to get things done if they choose to help you. Some of the more influential businessmen can get a lot done on your behalf with a simple conversation over a golf game. All in all, much more is accomplished here in private meetings over whiskey or coffee than in courtrooms. If your wife is not local and has no such contacts, then you might find yourself locked out of this particular recourse.

I would guess that even if you have success, it won't end with a 100 percent refund to you. Be prepared to lose a little even if you can make some gains in your predicament.

If you go with the "head" or other influential person, make sure you keep a low profile and allow the people intervening for you to feel that they are working for a fellow Thai (your wife). Her plight and potential loss if more important to them than yours is.

Lastly, if the firm is ruthless and believes they have a strong enough position to overcome any pressure from their peers, then they will not budge. I hope that is not the case. Please let the rest of us know if you have any success.

Edited March 24, 2010 by kandahar

[brianmarinus]

Hello!

Thanks for all your reply and advice.

I am new here-and in Thailand as well-and my woman is from Mae sai so she diddent have that kind of contacts here.

But just after I have send this topic to you-we was calld to the bank-and as fare as I understand it is not all over-there is alot of pressure on the main bank in Bangkok,so they have alot of work,and we will get an answer in 7 days-finally!

So now we must se what happend then.

There was one whit-I can smell a scam in here-and it is no scam,becourse all the mony is my womans from sale of her house in Mae sai.

So let us se what happend in 7 days-I will let you know.

Brian

[MrMondayNight]

You are the first thai person i have met called Brian. But i have to think you are Thai other wise why would you be buying a house you know you CANNOT own ?

Farangs cant own land in Thailand. How many times do people have to say this before people will get it .. Come On

Anyway Brian if you are Thai then i wish you and your new wife good luck in life. But if you are a Farang you are going to lose alot of money in Thailand.

Taxiiiiiiiiiiiiii for Brian

Edited March 24, 2010 by MrMondayNight

[bifftastic]

You are the first thai person i have met called Brian. But i have to think you are Thai other wise why would you be buying a house you know you CANNOT own ?

Farangs cant own land in Thailand. How many times do people have to say this before people will get it .. Come On

Anyway Brian if you are Thai then i wish you and your new wife good luck in life. But if you are a Farang you are going to lose alot of money in Thailand.

Taxiiiiiiiiiiiiii for Brian

brian quite clearly said he and his 'woman' were buying the house. He then goes on to say it's her money. Quite why you feel the need to be so condescending and patronising is beyond me. When the taxi you mention arrives, maybe you should get in it, I'll get your coat shall I?

[chang35baht]

Hi Brian, I see from some of your other posts that your proposed house is in Sinthanee. Is your contract for the purchase of the house with them for a new house? Or is it with the owner of an existing house on their estate?

I also notice from your previous posts that you thought you had bought the house already and that you were expecting to move into the house on the 22nd.

Were you under the impression that you already had confirmation of the finance for the house from the bank? I ask this because details like moving dates are normally only discussed after all financial details have been ironed out.

If you could Let us know who (without naming names) you actually paid 430,000Baht, maybe we can help you more.

Also,430,000 is a strange amount for a deposit. How was this amount calculated. Normally, deposits would be rounded off to 1,2, 300,000, for example, if the sums of money involved are large enough

Let us forget the banks for one moment. Has your wife signed any sort of contract?.

Let us know how things are proceeding Brian.

Good luck,

Chang35baht

Edited March 25, 2010 by chang35baht

[brianmarinus]

Hello!

Yes,it is a brand new house,and we pay the mony on the office in Sinthanee near the old airport.

Yes,I do not understand so much thai but it was my feeling that everything was ok-and so sayd the bank here in town,but they need a confirmation from the main office in Bangkok,and that is what we are waiting for now-they have told us,that we will get that in 7 days now-so lets see what happend.

I dont know how much usual paiment are,I just followed my lady-but the full price of the house is 2,7 million Baht,and my lady told me that we paid around 20% of the paiment price and that was normal,she think.

Yes,there is signed on papers in the bank and in Sinthanee.

Brian

PS:I will let you know how things are going.

[sceadugenga]

You are the first thai person i have met called Brian. But i have to think you are Thai other wise why would you be buying a house you know you CANNOT own ?

Farangs cant own land in Thailand. How many times do people have to say this before people will get it .. Come On

Anyway Brian if you are Thai then i wish you and your new wife good luck in life. But if you are a Farang you are going to lose alot of money in Thailand.

Taxiiiiiiiiiiiiii for Brian

brian quite clearly said he and his 'woman' were buying the house. He then goes on to say it's her money. Quite why you feel the need to be so condescending and patronising is beyond me. When the taxi you mention arrives, maybe you should get in it, I'll get your coat shall I?

Don't waste your time talking to trolls Biff, it only encourages them.

[brianmarinus]

Hello!

We was in the bank today,and happy me-there was a man speaking English,and he syad that we do not have to worry about anything-just a matter of time so Main bank in Bangkok says ok.

Then I told them that my lady is worried about loosing her mony if bank says no-but he told me not to worry-that will not happend,he sayd-also becource they have Sinthanee as costumers,so they talk together alot.

Then we go to Sinthanee office and they told us the same,so we was very happy today when we was on our way home.

So when we came home,about an our later,the phone call-and it was the bank-they sayd,yes!!!

So it all went up very good,and we are a happy family again.

Thanks for your reply all of you-good to know you are in here,ready to help people if you can-nice job!

Brian

[kandahar]

Hello!

We was in the bank today,and happy me-there was a man speaking English,and he syad that we do not have to worry about anything-just a matter of time so Main bank in Bangkok says ok.

Then I told them that my lady is worried about loosing her mony if bank says no-but he told me not to worry-that will not happend,he sayd-also becource they have Sinthanee as costumers,so they talk together alot.

Then we go to Sinthanee office and they told us the same,so we was very happy today when we was on our way home.

So when we came home,about an our later,the phone call-and it was the bank-they sayd,yes!!!

So it all went up very good,and we are a happy family again.

Thanks for your reply all of you-good to know you are in here,ready to help people if you can-nice job!

Brian

Congratulations, new CR home-owner. I'm happy it worked out for you.

[GarryP]

Yes, congratulations. I am sure that will be a great relief. I will be buying a house very soon, reserving the property and paying a deposit in the next few months or so, and am very nervous about the bank side of things.

Before, anyone comes out of the woodwork saying I cannot buy as I am not a Thai, I will be buying the house in my son's name. He is much less likely to kick me out than my wife and the property would be his anyway when my wife and I pass on so it makes sense to me to do it this way. Also they are talking about inheritence tax in the nxt few years so this will be a non-issue in his case.

[Asa]

That is good news indeed, congratulations! Yes the Bank and Sinthani are business partners, or more accurately The Sinthani is the bank client itself. They need relatively good customers to feed the bank loan repayment. The bank gets more retail clients, while earns repayment plus interest from Sinthani. No clients, no repayment and the bank will earn nothing but end up taking hold of the whole project, and yet has to spend more to maintain the estate by itself. All calculated, and yes a good customer like you can certainly buy the house.

[brahmburgers]

congrats Brian - as it sounds like the deal will go through for you and your wife. Welcome to Chiang Rai.

It doesn't paint a good picture of Sinthanee in my view. To take a high down payment, and then be callous and unyielding in working out something fair, if the deal were to have gone sour. If anyone asks me about them (and yes, I've had some dealings with them in the past) I'll recommend they steer clear of Sinthanee.

[chang35baht]

Good news Brian. I`m very happy it was resolved in your favour.

Maybe a lesson learned and a heads up to future house purchasers (or any purchase of similiar amounts) not to put any deposits down until they`re sure of the finance being approved

[brianmarinus]

Hello!

Thanks for all your good wishes and welcomes-I/we are happy to be in town-have a realy good life here.and yes-we are very happy about everyhing right now-but as chang 35baht sats-I hope that some one can learn a bit of this and be very carefull when or if buying house.

I think that my learning of this,is that you have to know axactly what is going on in the prucedure-and that can be hard when you dont speak Thai or understand it very well-so my advice must be-get help from a person you trust and who can translate it all to you-or else you will go whit alot of thoughs and be worried all the time-and as told-and learn,never pay before you are sure everything is ok. about finances.

Thanks to you all for your help and kindness.!

Brian

[svenivan]

Good to hear that everything is solved!

So now we only want to know when the HOUSEWARMING will be?

We are not expecting any extravagant, just some good music, maybe a bunch of dancing girls, 12 - 15 will be enough.

Then some snacks, a little bit of food and just a lot of beer!

[kandahar]

Yes, yes! I'm sure the house-warming announcement was going to be his next post.

I have already typed up the PM with my request (with recipe) for the special burger that I prefer at house-warming parties. Now I'm just waiting to hit the "send" button when the invite shows up on here.

[bifftastic]

You are the first thai person i have met called Brian. But i have to think you are Thai other wise why would you be buying a house you know you CANNOT own ?

Farangs cant own land in Thailand. How many times do people have to say this before people will get it .. Come On

Anyway Brian if you are Thai then i wish you and your new wife good luck in life. But if you are a Farang you are going to lose alot of money in Thailand.

Taxiiiiiiiiiiiiii for Brian

brian quite clearly said he and his 'woman' were buying the house. He then goes on to say it's her money. Quite why you feel the need to be so condescending and patronising is beyond me. When the taxi you mention arrives, maybe you should get in it, I'll get your coat shall I?

Don't waste your time talking to trolls Biff, it only encourages them.

True, I mostly ignore them but sometimes they p*ss me off enough for me to nip under the bridge myself. I'll try counting to 20.... 10 often isn't enough

And congrats to Brian and his misses

Edited March 28, 2010 by bifftastic

[brianmarinus]

Hello!

Yes, now it is wrong again-I did not what to do and how to react-the bank has,as I told you,sayd that everything was ok now,but then they phonetoday and say it is not ok-They wont me to stand as a garantee forthe mone and then ofcourse they wont to see some proof that I have some mony-which I dont have-only my pension every month from Denmark-and I think I have make that clear to them when we was in the bank.

Now they have found out,that my last adress in Denmark is a big farm-and in there wisdom they some how have figure out that I own it-so I need to have alot of mony they think.

The truth is that this big farm,is a place for homeless men and men who are devorced and fore a while dont have a home-so it is totaly stupid.

I found the home page for this place and try to put it on a memorycard after translating to Thai-but it diddent work,becourse when I open it again the translation and all was gone.I think I wont to show the bank what kind of place it is,so this misunderstanding wood stop.

There was a person in here who say that we maby can sell the house-so some one payd the mony to Sinthanee and then buy it for a lower price from us-we wood loose alot of mony but not it all,ths way.But I think about it and it is still a bit of mony even if rhere was a person who wood wont this-we have payd 440.00-and they wont 2,7 million for it-so it will be 2.3 million-and then if we have,let us say 200.000-it is still 2,5 million Baht-so I dont think eny one wood do so.

So here we are again-and I feel that the lady think it is all my foulth-even she says thats ok,and we will be able to handle it some how-of course we will-but I think it is hard fore the moment.

So,guys,I am sorry to disapoint you about the house warming-but this is how it turned op to be.

Enyway-thanks fore your support and kindness in here-hope things wil be better later and we will meet in here a day.

Have a good life and take care!!!

Brian

[kandahar]

Hello!

Yes, now it is wrong again-I did not what to do and how to react-the bank has,as I told you,sayd that everything was ok now,but then they phonetoday and say it is not ok-They wont me to stand as a garantee forthe mone and then ofcourse they wont to see some proof that I have some mony-which I dont have-only my pension every month from Denmark-and I think I have make that clear to them when we was in the bank.

Now they have found out,that my last adress in Denmark is a big farm-and in there wisdom they some how have figure out that I own it-so I need to have alot of mony they think.

The truth is that this big farm,is a place for homeless men and men who are devorced and fore a while dont have a home-so it is totaly stupid.

I found the home page for this place and try to put it on a memorycard after translating to Thai-but it diddent work,becourse when I open it again the translation and all was gone.I think I wont to show the bank what kind of place it is,so this misunderstanding wood stop.

There was a person in here who say that we maby can sell the house-so some one payd the mony to Sinthanee and then buy it for a lower price from us-we wood loose alot of mony but not it all,ths way.But I think about it and it is still a bit of mony even if rhere was a person who wood wont this-we have payd 440.00-and they wont 2,7 million for it-so it will be 2.3 million-and then if we have,let us say 200.000-it is still 2,5 million Baht-so I dont think eny one wood do so.

So here we are again-and I feel that the lady think it is all my foulth-even she says thats ok,and we will be able to handle it some how-of course we will-but I think it is hard fore the moment.

So,guys,I am sorry to disapoint you about the house warming-but this is how it turned op to be.

Enyway-thanks fore your support and kindness in here-hope things wil be better later and we will meet in here a day.

Have a good life and take care!!!

Brian

Brian, we aren't going anywhere. We'll be right here.

I hope your lady doesn't think it is all your fault. Two people are in this together. Don't let this divide you. Most people on the forum have had rough times and gotten through it and most are better people because of it.

Brian, is there another house that you want, for less money, that the firm would let you move your deposit to? If you can find a house with the same firm, and for an amount that the bank will loan on, maybe the firm would help you and help themselves at the same time. Of course, they don't have to help you. As I said before, the deposit is your guarantee that you are going to buy the house. But a conversation with the firm may save you from an expensive lesson. Worth a try?

Stay in touch, Brian.

[Paul888]

Brian

Don't give up. 430,000 baht is a lot of money of money to lose and so you must exhaust all options to either get this money back, or complete the purchase.

Some quick questions/ideas etc.

I apologise if the questions are "personal" but I am sure that more people here would have ideas for you if ALL informaton was available.

Firstly as I understand it from my wife, Sinthanee properties are "money in the bank" ie they are well constructed, hold their value and are relatively easy to resell, in which case, the problem could lie firmly with your mortgage application so here are some questions, that may help people help you better. Whether this is really the case or not is not that important, but a developer's chose bank WANTS to lend on their properties, and to decline they must have a valid reason whch you need to find out and deal with.

1. How is it intended that the loan for this property would be paid back? Does your lady have sufficient monthly income to finance this mortgage? Do you? Does she have at least 6 months of bank statements to support this income?

2. How old are you? How old is she? What term mortgage did you ask for? (How many years)

3. Is your lady a Thai national with ID and "history" etc. Does she bank at the bank who turned you down?

4. If not, have you tried her bank or other banks?

5. Can anybody else in her family guarantee the loan?

6. How long do Sinthanee give you to arrange your finance? Is there a date specified? Is there an mention in the agreement about what happens if you cannot get finance?

7. Kandahar's question about transferring the deposit to other Sinthanee houses was a good question. Will they do that or allow you to "hold" that property until somebody else wants to buy it, and if that happens move it to another one?

The answers to these questions, may help somebody help you.

Good luck, I hope you don't lose your money.

[brianmarinus]

Hello!

I understand your questions and why you ate asking and thats ok.

It is on 20 years payment back.

Y have my pension from Denmark and it goes directly to my womans account in this bank,every month.

Yes, my woman is Thai and has an account in this bank.

I am 53 years-and she is 45 years old.

No,there is no one in here family who can stand up for this.

I must say that my Thai is not very good and I cant see what there stand in the papers but the date from start was that we move in d.22. in this month-but we did not get answers from the bank before tre or four days ago-and then they sayd yes it was ok.But todat they phone and say that it is not ok anyway.

I dont know about they will allow us selling the house to another or what-we have to go to the bank today and talk whit them,what there is there problem and how we can soult it.

Have a nice day-and thanks fore your reply and trying to help-it warms in thise times when tings are difficult.

Brian.

PS! I will let you guys know have it works out.

[brianmarinus]

Hello!

Now I am here again!

We go to Sinthanee today and I must say that they was very very understanding and helpfull.We told them how things turned out and ask about it is possiple that we may buy a smaller house which the bank will accept and this was ok-so we go to the bank and talk whit them,but the big boss himself say,no no,we send the papers back to Bangkok main fillial and ask again.

Ok,we go back home and have a dinner and was on our way to Sinthanee again when the phone called and it was the lady from Sinthanee-she think this was go to fare and have contactet another bank in town.and they wont to borrow us the mony-no problem.

So we went to Sinthanee and talk whit hr and looked at the other house-also there,and it was a nice house-not so big as the first one,but ok.for my woman and me-and 1 million cheaper,so I was a happy man when we left them,and so is my woman.

It is ready to move in on two month so we must be pacient,but thats ok-we are happy now and dont have all that to think about all the time.

So we finally get us a house anyway.

So I think we can close this pic now-and once again-thanks for your support and kindness-and you will now when we have ours house warming-for sure!

Brian

[Paul888]

Everyone loves a happy ending