Buying a house

[kingstonkid]

There is probably a different thread for this so please shift if necessary.

MY QUESTIONS

I am far from a brain so I figure someone out there has tried this.

The GF wants to buy a house as mentioned in a previous post I have a legitimate business reason for her to succeed.

1. I have a gerat deal of experience outside thialand negotiating for properties with banks so should i attend the meeting to make suggestions or to be able to take the topic in various directions to find a win win for all.

2. If my gf has a leave or rental agreement from me for 1 -5 years that will pay for the mortgage would that benefit her and add to her income.

3. I also have access to the funds necessary to put a 30% DP but want to make sure that i am involved to get the best deal possible as well as a tad bit of control freek in me

[Testacall]

So ur question is ?

[beachproperty]

All that experience and knowledge mean nothing in Thailand.

If your dealing with bank owned property ....its probably a "dog". They've cherry picked the best ones for themselves.

If a Thai seller gets a whiff that a farang is involved they will jack the price up....because they think your rich and can afford it.

Most Thai's that own property are rich already so if they selling ...they put a high price on it and just wait to see if it sells

That being said there are bargains out there but you have to "look, look, and look some more" ....You should at least look at 50 properties to get a feel for the "real" price

As for getting a loan.....its a longshot (real longshot) if your girl friend is not working now and it is dependent on the new place being rented to you.

Good Luck!

Edited March 5, 2016 by beachproperty

[anotheruser]

The answer to your question is yes.

[northernjohn]

I once asked a bank if my wife could buy a house property included. She is Thai. The answer was yes if I would put a down payment of 50% on it.

Now I was just curious as I have no intention of selling myself to a house. But I was curious and this was the Commercial bank of Siam. I have been around long enough to know different banks have different requirements and even then all the various branches do not always follow them.

[kingstonkid]

All that experience and knowledge mean nothing in Thailand.

If your dealing with bank owned property ....its probably a "dog". They've cherry picked the best ones for themselves.

If a Thai seller gets a whiff that a farang is involved they will jack the price up....because they think your rich and can afford it.

Most Thai's that own property are rich already so if they selling ...they put a high price on it and just wait to see if it sells

That being said there are bargains out there but you have to "look, look, and look some more" ....You should at least look at 50 properties to get a feel for the "real" price

As for getting a loan.....its a longshot (real longshot) if your girl friend is not working now and it is dependent on the new place being rented to you.

Good Luck!

I beg to differ about my experience. From everything I have seen and heard from the Banks here they want the same things as they do anywhere. An applicant that is prepared has a plan, is willing to talk and work things out and has access to the necessary funds.

The owner already knows that she has a farang BF as it is in our subdivision and i am well known.

Your look at 50 properties is the same thing as what we tell people in Canada and the US and believe me I have done that.

It is funny how people seem to be able to read things that are not presented. I never said she does not work. She has worked for a long time just as is the case with most thais does not make a lot of money.

[paulinbkk111]

Yeh I looked at some repossessed 'condos'. Awful. But they sell for about 300k, what to expect.