trogers Posted May 16, 2015 Share Posted May 16, 2015 Wasn't it you who said the developer offers the financing ? Is the developer getting the funds from the sinsot of his favourite daughter or would it be coming from the bank ? Same places yes ? Question that arises is, the latest name on the title deed is the property owner. In a mortgage, your name is on the title deed with the bank placing a restriction on it. In developer financing, your name does not appear in the title deed (yet), and the monies being paid by you are just recorded in the company's account as an unsecured creditor. Link to comment Share on other sites More sharing options...
MaeJoMTB Posted May 16, 2015 Share Posted May 16, 2015 10 years would shorten the interest paid on the loan . I can't see why putting 25% down on the place would be a good idea ? If you can't own the thing you may as well get a mortgage ,if it's possible ?? ... If you're missus plays up just saddle her with the debt ? a bad idea is to think you can get a mortgage in Thailand (and most other countries) with less than 25% down. keep on dreaming! You must have missed the condo advertisements on Soi wat boon that offered 110% financing. these offers are for suckers only as the financing is done by the developers with handcuffs and foot chains as chanotes in the names of the buyers are not issued as the property remains pledged as collateral to banks in the name of the developers. a done thing in Thailand since pre-crisis 1997. My Mrs. got a mortgage with 10% down last year from SCB. Chanote issued. Link to comment Share on other sites More sharing options...
i claudius Posted May 16, 2015 Share Posted May 16, 2015 (edited) Much of my life I was in property,my wife here in Thailand sells it ,much of it in Pattaya is hard to sell as in all the world it's down to location,location ,location . Oh and the vendors not wanting twice what it is really worth Edited May 16, 2015 by i claudius Link to comment Share on other sites More sharing options...
Naam Posted May 16, 2015 Share Posted May 16, 2015 Wasn't it you who said the developer offers the financing ? Is the developer getting the funds from the sinsot of his favourite daughter or would it be coming from the bank ? Same places yes ? i refrain to discuss the beauty of a rainbow with blind people Link to comment Share on other sites More sharing options...
chrisandsu Posted May 18, 2015 Share Posted May 18, 2015 10 years would shorten the interest paid on the loan . I can't see why putting 25% down on the place would be a good idea ? If you can't own the thing you may as well get a mortgage ,if it's possible ?? ... If you're missus plays up just saddle her with the debt ? a bad idea is to think you can get a mortgage in Thailand (and most other countries) with less than 25% down. keep on dreaming! You must have missed the condo advertisements on Soi wat boon that offered 110% financing. these offers are for suckers only as the financing is done by the developers with handcuffs and foot chains as chanotes in the names of the buyers are not issued as the property remains pledged as collateral to banks in the name of the developers. a done thing in Thailand since pre-crisis 1997. My Mrs. got a mortgage with 10% down last year from SCB. Chanote issued. Thank you sir I rest my case . Link to comment Share on other sites More sharing options...
Naam Posted May 18, 2015 Share Posted May 18, 2015 10 years would shorten the interest paid on the loan . I can't see why putting 25% down on the place would be a good idea ? If you can't own the thing you may as well get a mortgage ,if it's possible ?? ... If you're missus plays up just saddle her with the debt ?a bad idea is to think you can get a mortgage in Thailand (and most other countries) with less than 25% down. keep on dreaming! these offers are for suckers only as the financing is done by the developers with handcuffs and foot chains as chanotes in the names of the buyers are not issued as the property remains pledged as collateral to banks in the name of the developers. a done thing in Thailand since pre-crisis 1997. My Mrs. got a mortgage with 10% down last year from SCB. Chanote issued. my Mrs is a direct descendant of a famous Roman Emperor and according to an ancient chanote she owns free and clear the colosseum in Rome Link to comment Share on other sites More sharing options...
chrisandsu Posted May 19, 2015 Share Posted May 19, 2015 10 years would shorten the interest paid on the loan . I can't see why putting 25% down on the place would be a good idea ? If you can't own the thing you may as well get a mortgage ,if it's possible ?? ... If you're missus plays up just saddle her with the debt ? Just to remind you of my first quote in which you mentioned fairytales ..... Your need to be right is actually dumbing you down maybe you should leave for a while to get a little reality and prospective in life ? Link to comment Share on other sites More sharing options...
Naam Posted May 19, 2015 Share Posted May 19, 2015 10 years would shorten the interest paid on the loan . I can't see why putting 25% down on the place would be a good idea ? If you can't own the thing you may as well get a mortgage ,if it's possible ?? ... If you're missus plays up just saddle her with the debt ? Just to remind you of my first quote in which you mentioned fairytales ..... Your need to be right is actually dumbing you down maybe you should leave for a while to get a little reality and prospective in life ? i think it's against forum rules if i tell you what i think about your surrealistic economic assumptions and suggestions Link to comment Share on other sites More sharing options...
Crossy Posted May 19, 2015 Author Share Posted May 19, 2015 10 years would shorten the interest paid on the loan . I can't see why putting 25% down on the place would be a good idea ? If you can't own the thing you may as well get a mortgage ,if it's possible ?? ... If you're missus plays up just saddle her with the debt ? Just to remind you of my first quote in which you mentioned fairytales ..... Your need to be right is actually dumbing you down maybe you should leave for a while to get a little reality and prospective in life ? i think it's against forum rules if i tell you what i think about your surrealistic economic assumptions and suggestions Indeed it is Naam, the telpathetic powers of TV mods is legendary, I know what you're thinking before the thought begins to speculate about the merest possibility of crossing your mind Link to comment Share on other sites More sharing options...
Forkinhades Posted May 19, 2015 Share Posted May 19, 2015 ^ yes I concur Link to comment Share on other sites More sharing options...
MaeJoMTB Posted May 19, 2015 Share Posted May 19, 2015 10 years would shorten the interest paid on the loan . I can't see why putting 25% down on the place would be a good idea ? If you can't own the thing you may as well get a mortgage ,if it's possible ?? ... If you're missus plays up just saddle her with the debt ? Just to remind you of my first quote in which you mentioned fairytales ..... Your need to be right is actually dumbing you down maybe you should leave for a while to get a little reality and prospective in life ? i think it's against forum rules if i tell you what i think about your surrealistic economic assumptions and suggestions I'm with criasandsu on this one, you aren't always right. Link to comment Share on other sites More sharing options...
chrisandsu Posted May 19, 2015 Share Posted May 19, 2015 It's a pitty you can't buy class ? how do I join in the bum pats ? Link to comment Share on other sites More sharing options...
OnMyWay2 Posted May 23, 2015 Share Posted May 23, 2015 I was planning to buy something this time Glad I didn't. And now I left Thailand with zero ties. I lived in 3 different condos, Condo 1 = major plumbing issues. Power outage 3 times in a month. Internet outage 7 times is one month. Condo 2 = water outage 1 time. Internet down for 3 days straight. Condo 3 = this one was ok! flaky Internet connection but not bad. I was only there for 2 weeks. I'll come back and rent whichever building is the best next time. Money better spent buying property in the US. Link to comment Share on other sites More sharing options...
WorkingTourist Posted May 25, 2015 Share Posted May 25, 2015 I was planning to buy something this time Glad I didn't. And now I left Thailand with zero ties. I lived in 3 different condos, Condo 1 = major plumbing issues. Power outage 3 times in a month. Internet outage 7 times is one month. Condo 2 = water outage 1 time. Internet down for 3 days straight. Condo 3 = this one was ok! flaky Internet connection but not bad. I was only there for 2 weeks. I'll come back and rent whichever building is the best next time. Money better spent buying property in the US. Your post is sort of ironic because if you are struggling with flaky internet, then why not change provider? Or is that something the landlord (owner) handles? If you live in an area with power outages then installing a UPS could alleviate some of the frustration, but you probably wouldn’t do that as a renter. As for plumbing, might also be fixable, but as you did not own the place, you would need to pester the landlord about it. That said, doing due diligence on the plumbing should be on everybody’s list here in Thailand, regardless of whether you rent or buy, as that seems to be something that is often poorly done (missing P-traps and venting of the pipes). Link to comment Share on other sites More sharing options...
OnMyWay2 Posted May 29, 2015 Share Posted May 29, 2015 I was planning to buy something this time Glad I didn't. And now I left Thailand with zero ties. I lived in 3 different condos, Condo 1 = major plumbing issues. Power outage 3 times in a month. Internet outage 7 times is one month. Condo 2 = water outage 1 time. Internet down for 3 days straight. Condo 3 = this one was ok! flaky Internet connection but not bad. I was only there for 2 weeks. I'll come back and rent whichever building is the best next time. Money better spent buying property in the US. Your post is sort of ironic because if you are struggling with flaky internet, then why not change provider? Or is that something the landlord (owner) handles? If you live in an area with power outages then installing a UPS could alleviate some of the frustration, but you probably wouldn’t do that as a renter. As for plumbing, might also be fixable, but as you did not own the place, you would need to pester the landlord about it. That said, doing due diligence on the plumbing should be on everybody’s list here in Thailand, regardless of whether you rent or buy, as that seems to be something that is often poorly done (missing P-traps and venting of the pipes). plumbing problem was complex wide. I asked management company about it they said it's too expensive to fix. Internet is also shared throughout the complex. Yeah I probably couldn't installed my own internet even as a renter. Much easier to just move. Link to comment Share on other sites More sharing options...
bazza40 Posted May 29, 2015 Share Posted May 29, 2015 I was planning to buy something this time Glad I didn't. And now I left Thailand with zero ties. I lived in 3 different condos, Condo 1 = major plumbing issues. Power outage 3 times in a month. Internet outage 7 times is one month. Condo 2 = water outage 1 time. Internet down for 3 days straight. Condo 3 = this one was ok! flaky Internet connection but not bad. I was only there for 2 weeks. I'll come back and rent whichever building is the best next time. Money better spent buying property in the US. I don't understand the internet situation. It's simple enough to get on a WiFi plan with 3BB, Sinet etc. My condo has quite reliable WiFi, 350 baht a month; however, there are a number of people in the condo that want faster speeds and go to outside providers. Link to comment Share on other sites More sharing options...
NeverSure Posted June 3, 2015 Share Posted June 3, 2015 The topic is about renting or buying. Renting isn't just for poor people. It's also for people who don't want to be tied down. Being tied down can mean to an area or a neighborhood or condo building, but some people don't want to be in one place long term. Others don't want to risk headaches on something that may not work out well. Thailand doesn't have the same rule of law that western countries have and I simply don't trust it or any of the schemes some Westerners have to own homes in Thailand. It's not the money; it's the potential hassle if things go sideways. I want to be able to walk if I decide to without fighting with someone. Cheers. Link to comment Share on other sites More sharing options...
mikebike Posted June 5, 2015 Share Posted June 5, 2015 The topic is about renting or buying. Renting isn't just for poor people. It's also for people who don't want to be tied down. Being tied down can mean to an area or a neighborhood or condo building, but some people don't want to be in one place long term. Others don't want to risk headaches on something that may not work out well. Thailand doesn't have the same rule of law that western countries have and I simply don't trust it or any of the schemes some Westerners have to own homes in Thailand. It's not the money; it's the potential hassle if things go sideways. I want to be able to walk if I decide to without fighting with someone. Cheers. Nailed it!!! Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now