Has Anyone Bought Or Sold Land/house In The Last 2 Weeks

[Sunbelt Asia]

Many thanks for the info. Why don't people use this route instead of companies? are there any drawbacks? It would appear to be legal and less expensive than the company route or am I missing something? thanks again.

You do not get the benefit of the land appreciation except the right of servitude.

The biggest drawbacks are that most people like to own freehold instead of leasehold for the land appreciation. But the Thai government has something to say about that!

If you don't have a business, are looking to retire then these servitudes are in most all cases a much better option than anything available.

www.sunbeltasiagroup.com

[moose]

Thanks very much, as we are not buying as an investment more a home to retire to I think this will be suitable. If we need to sell the property can we do so and transfer the surficies with the landlords permission. Also please can you pm me with costs for you to do this work for us.

[Sunbelt Asia]

If we need to sell the property can we do so and transfer the surficies with the landlords permission.

I surmise you mean sell the house registered in your name and transfer the rights of the superficies of the land. If I understand your question correctly, yes you can do this.

Also please can you pm me with costs for you to do this work for us.

Thank you. I have pm you.

We are proud that we are transparent on our fees and happy to disclose them publicaly as well. Our firm charges 9,500 for the drafting of the agreement, 8,500 for registration of the servitude, House Registration Certificate( yellow book Thor Ror 13) professional registration fees are 8,800 Baht.

Looking forward to working with you.

www.sunbeltasiagroup.com

[Mobi]

I am in the process of:

Transferring my 49% shares in my 49/51 company to my wife.

Transferring the 'nominee' shares in my company to other 'friendly' entities.

Transferring the land and house from the company into my wife's sole name.

Registering a usufruct to allow me to live there until I die.

Closing down the company.

I am hoping that with the exception of closing the company, all the above can be achieved within the next two weeks.

I will report back when this has been achieved.

Edited August 27, 2006 by Mobi D'Ark

[JimmyGreaves]

I am in the process of:

Transferring my 49% shares in my 49/51 company to my wife.

Transferring the 'nominee' shares in my company to other 'friendly' entities.

Transferring the land and house from the company into my wife's sole name.

Registering a usufruct to allow me to live there until I die.

Closing down the company.

I am hoping that with the exception of closing the company, all the above can be achieved within the next two weeks.

I will report back when this has been achieved.

Mobi

Look forward to hearing the time span that you can get this achieved in and the legal costs.

Out of curiosity how are the other 51% shares split?

Best Of Luck.

Edited August 27, 2006 by jflundy

[jamie46]

How do you close a ompany?

Or is it ok to just let it die.

I am in the process of:

Transferring my 49% shares in my 49/51 company to my wife.

Transferring the 'nominee' shares in my company to other 'friendly' entities.

Transferring the land and house from the company into my wife's sole name.

Registering a usufruct to allow me to live there until I die.

Closing down the company.

I am hoping that with the exception of closing the company, all the above can be achieved within the next two weeks.

I will report back when this has been achieved.

Mobi

Look forward to hearing the time span that you can get this achieved in and the legal costs.

Out of curiosity how are the other 51% shares split?

Best Of Luck.

[Mobi]

Look forward to hearing the time span that you can get this achieved in and the legal costs.

Out of curiosity how are the other 51% shares split?

Best Of Luck.

The 51 % are all held by employees in my Thai lawyers office.

Edited August 29, 2006 by Mobi D'Ark

[Mobi]

How do you close a ompany?

Or is it ok to just let it die.

No it isn't Ok. It will take about two years and is quite expensive. I will tell you more later.

Edited August 29, 2006 by Mobi D'Ark

[MartinBKK]

I talked to a very friendly agent that i know yesterday and i asked her how sales were at the moment.

"very slow" was the reply.

[wilko]

It would seem that figures are starting to emerge - http://www.thaivisa.com/forum/index.php?showtopic=81100" target="_blank">Phuket housing figures for July - but what were last years figures for the same month?

[sleepyjohn]

I talked to a very friendly agent that i know yesterday and i asked her how sales were at the moment.

"very slow" was the reply.

I spoke to a friend today who is an agent mostly to farangs in a popular country area near Chiangmai. I asked her if the new company guidelines had affected her. She very honestly said sales had gone dead.

My feeling is that property prices are like traffic.

You only need very few more cars to jam the traffic......very few less and it will flow freely. Just a few more buyers and prices rise considerably, just a few less and they can drop considerably.

Edited September 4, 2006 by sleepyjohn

[cclub75]

My feeling is that property prices are like traffic.

You only need very few more cars to jam the traffic......very few less and it will flow freely. Just a few more buyers and prices rise considerably, just a few less and they can drop considerably.

Yes. All the "fuzz" about the so called "new rules" (actually, only a reminder of the rules, period), may have one good effect : people start to be aware.

Before, it was easy to be blind, to listen to the sweet mouth of real estate agents/companies.

Meanwhile, there is no reason for the market to not follow the overall economic situation of the country.

Growth is going down in Thailand. Interests rates are high. Constructions costs for developpers are rising, farang market is not per definition very large.

If you add all thoses facts, along with a few other, well you can say that the perspectives for real estate are not very exciting.

I remind you that Singha said that its sales of Soda water were down, and Oishi (green tea beverages) is cutting its production by 2 due to weak demand !

We need to wake up a little bit : when people start to save on beverages... it's not what a healthy sign !

Back to real estate and farang.

When the quality of the deal will increase (reasonnable buying prices compare to rent market, properties rights etc.), people will come back again on the market. But right now, the feeling is that it's better to wait and see.

Last point : in western countries, the discussion regarding real estate is getting hotter. The idea of a "very hard landing" (not to say a crash) (in USA for instance) is getting more and coverage in the medias.

La "fiesta" is finished. Back to earth. And it's going to hurt.

[Mobi]

Just to let you know that things are progressing. Not as fast as I had hoped, but the initial delay (from last week to this week) was down to me, not the lawyers.

I little hiccup occurred today, but I will await completion before commenting further. The lawyers have done good work, and in the curent uncertainties, no one quite knows what the land officer's reaction will be to a given set of circumstances.

I still hope all will be concluded this week.

If all this works, I see no reason why parts of what I am doing cannot be applied to the market as a whole, and become the new way forward. Better and cheaper than a 30 year lease with lifeteime security of tenure. I will explain more later.

Edited September 4, 2006 by Mobi D'Ark

[Mrkisskissbangbang]

Quote: Transferring the 'nominee' shares in my company to other 'friendly' entities.

May I ask why you think this is neccessary. Particularly as you are going to transfer the land into your wife's sole name. And close down the company in the end.

I am thinking of doing something similar, however, at a much slower pace.

[Mobi]

Quote: Transferring the 'nominee' shares in my company to other 'friendly' entities.

May I ask why you think this is neccessary. Particularly as you are going to transfer the land into your wife's sole name. And close down the company in the end.

I am thinking of doing something similar, however, at a much slower pace.

The nominees in my case were employees of the Thai lawyer who set the company up. Theoretically, if the comapny sold the house to my wife, the nominees would be entitled to their share of the sale proceeds. I was concerened about this aspect long before the current crackdown and had resolved to eliminate the nominees one day. The crackdown merely accelerated my plans.

OK it is unlikely that these nominees would try to claim anything from me, but who knows what may happen 5 or 10 years down the line. I just don't want to have some smart arse Thai knocking at my door one day, claiming their share of the proceeds on the sale of my house years ago. By going the extra step, it's a sleep easy. Cost 18,000 Baht plus vat.

[Mrkisskissbangbang]

So the plot thickens...!

However, what about the .........other "friendly" entities bit...??

Please don't tell me you have the wife's family in mind..!!

[Mobi]

So the plot thickens...!

However, what about the .........other "friendly" entities bit...??

Please don't tell me you have the wife's family in mind..!!

No, they are joint venture companies controlled by my new lawyer. I signed joint venture agreements with them which effectively protect me from the aformentioned possibility of them claiming a share of the house sale, when transferring to my wife's sole name.

Any more questions?

[Mrkisskissbangbang]

Thanks again for the info. Had I known then what I know now .... !!

I say, wouldn't a magnum be cheaper..??!!

[HenryB]

I was told by my Thai girl friend and a Thai Broker that super rich from Bangkok are buying all they can.

They don't want farang to buy and they forcing down the market.

When the prices go up 3 times they will let Farang buy it from them.

This is the last time to buy cheap.

My gf and her brother the real broker told me the houses shall be worth 5 time the value they are now

After they told me this I am now buying 8 huses one to live in and 7 to rent.

I shall put it in my gf names as she loves me.

You to can put the house in her name just write me I will give you her brothers telephone number.

My GF might work for her brother

Glad to help

You to can be rich

Edited September 7, 2006 by HenryB

[Heng]

[thaigene2]

The answer I'm still waiting for is:

What percentage, on 'average' - don't flame me - of these condo projects relates to Thai speculators (or farang/asian for that matter), and what percentage relates to occupiers?

Learn this, and learn the risks that lie ahead. Oversupply at upper end of market? 90% sold out? What happens when the speculators have to pay out the final 80% (off-plan buyers only drip-feed their money in over 1-2 years - hoping to sell "flip" before they are asked for the last BIG payment).

Is it time to pay the piper darling?

[thaigene2]

Looking forward to working with you.

www.sunbeltasiagroup.com

..But we never return phone calls, nor do CB Richard Ellis or Jones Lang Lasalle. Only if you're sniffin around for a 10-20 mil property Luv..Not that our Websites actually have much on 'em anyway Luv. Have a look..Lots of talk about service..not much to offer really. Looking forward to working with you too!

Edited September 7, 2006 by thaigene2

[sinam]

If you have mortgage can you go the superficies route? For that matter can you go the lease route with a mortgage? I have a mortgage with the gf on a house. We paid 20% down. I pay more of the lions share of course but she throws in a decent amount. Not in a rush to start meeting with lawyers and splashing out cash but what would some of you vets see as the best option for myself? Thanks.

Sinam

[backflip]

Henry B,

Neither you nor your GF understand even the most basic fundamentals of economics.

"I was told by my Thai girl friend and a Thai Broker that super rich from Bangkok are buying all they can. They don't want farang to buy and they forcing down the market."

If the Thias (or anyone) buy up all of the real estate, the price goes UP not DOWN. Of course, when they realize that they can't unload the overpriced real estate, the price will go DOWN not UP.

I'd love to hear your GF's explanation on the pricing of financial derivatives using the Sholes-Black-Mertin formula.

[thaigene2]

Henry B,

Neither you nor your GF understand even the most basic fundamentals of economics.

"I was told by my Thai girl friend and a Thai Broker that super rich from Bangkok are buying all they can. They don't want farang to buy and they forcing down the market."

If the Thias (or anyone) buy up all of the real estate, the price goes UP not DOWN. Of course, when they realize that they can't unload the overpriced real estate, the price will go DOWN not UP.

I'd love to hear your GF's explanation on the pricing of financial derivatives using the Sholes-Black-Mertin formula.

Can't believe a flamer like yourself fell for that post BackFlip. The guy earned himself a gold star..

[HenryB]

Who knows about Sholes-Black-Mertin formula

I don't care I am tied just came back from land office after buying 8 houses for 22 million baht.

No troble just put them in her name.

Her brother was so helpful I gaver him 100,000 baht as his sister told me to do.

I shall be rich

[LaoPo]

Who knows about Sholes-Black-Mertin formula

I don't care I am tied just came back from land office after buying 8 houses for 22 million baht.

No troble just put them in her name.

Her brother was so helpful I gaver him 100,000 baht as his sister told me to do.

I shall be rich

You are the funniest guy of the day*; I bet your GF is very very pretty! and her brother just LOVES you....I'm sure of that!

* You just won the PRICE-OF-THE-DAY for the funniest character

LaoPo

[backflip]

"I shall be rich"

Not anymore, that's for sure.