Condo: Rent To Buy

[thaisabai]

Hi all

http://www.expat-condos.com/rent-to-own-a-pattaya-condo.html

just wondering:

is it complicated?

is it safe?

has anyone dealt with this company before?

looking to rent some condo with a goal to own it one day.

any comments appreciated

Thaisabai

[davejones]

I read the home page and it seems to say that they loan you the money to buy the condo. Apart from the name of the scheme there isn't anything about renting, so I've no idea how this works.

I also clicked through to the condos and it has sale and rental prices. Rental prices seem high compared to sale price, but I still can't see how this works. Looks like you pay a high rent and then buy one day. Seems a waste of money to me. These kind of schemes always strike me as a bit dodgy. Maybe they're not but why buy if you can't afford to?

[mogandave]

They carry the paper.

[davejones]

They carry the paper.

What paper?

In the example on their home page they say that if you want to buy a 4.5m condo but only have 3.5,, then they'll lend you 1m. I don't see where the reting part comes into it at all.