smotherb Posted October 26, 2017 Share Posted October 26, 2017 13 hours ago, cheeryble said: To me SmotherB seems to show a bias against the Thais involved. We also hear that the second (Thai) lawyer is expected to at least inspect the case without payment and regardless of what he finds to guarantee a result. Basic consultations are sometimes free. Further inspection of a case without which an opinion might not be possible is not. I agree with Drago something doesn't compute here, a 12megabaht house for a million? Would be interesting to hear the story with the missing bits filled in. Could you give a call and find out? (nothing personal SmoB) Gee, you mean you see something fishy going on here. So do I; that is why I related the story. Link to comment Share on other sites More sharing options...
Drago Posted October 26, 2017 Share Posted October 26, 2017 (edited) 12 hours ago, cyberfarang said: You owned a house built on someone else`s land, the land that you did not purchase with your money? Is that correct? Good luck if you managed to pull this off. I leased a plot of land approximately 3 rai in size, the land had access from a main road. The lease was for 15 years which was way longer than I needed as I knew I would be there for a maximum of 10 years. The land was leased from a non family member and the contract was drawn up by a lawyer appointed by myself and not the land owner and a copy of the lease was filed with the land registry department as well as copies retained by myself and my appointed lawyer. The rent on the land that I paid was 1.25 baht per square meter which equated to B6,000 per month for the first 5 years of the lease and rising 0.25 baht per square meter every 5 years thereafter. The price of land of similar status in the surrounding area was selling for between 400,000 - 600,000 per rai. I paid an initial 135,000 baht to get the land suitable for installation of the house and then had the house delivered and constructed by the builders who dismantled it for me when I bought it from the previous owner. When I decided that my time was up and needed to move on I advertised the house for sale on a popular Thai website and I had a buyer for it within days of it going up for sale, I got almost 2 million baht more for it than I had originally paid as good teak wood houses are extremely desirable in certain areas and are getting rarer by the day. I gave up my lease with 6 years left on it and I could have walked away from it with payment of 1 years rent though I decided to pay the owner of the land the full remaining 6 years though at a reduced rate of 0.5 baht per square meter, they were extremely grateful for this, and if I ever was to return to that area to live I would look at doing similar again and with the same land owner. So yes, I owned my own house but did not own the land it was built on and the scenario was still 'as safe as houses'. Edited October 26, 2017 by Drago Link to comment Share on other sites More sharing options...
cyberfarang Posted October 26, 2017 Share Posted October 26, 2017 15 minutes ago, Drago said: I leased a plot of land approximately 3 rai in size, the land had access from a main road. The lease was for 15 years which was way longer than I needed as I knew I would be there for a maximum of 10 years. The land was leased from a non family member and the contract was drawn up by a lawyer appointed by myself and not the land owner and a copy of the lease was filed with the land registry department as well as copies retained by myself and my appointed lawyer. The rent on the land that I paid was 1.25 baht per square meter which equated to B6,000 per month for the first 5 years of the lease and rising 0.25 baht per square meter every 5 years thereafter. The price of land of similar status in the surrounding area was selling for between 400,000 - 600,000 per rai. I paid an initial 135,000 baht to get the land suitable for installation of the house and then had the house delivered and constructed by the builders who dismantled it for me when I bought it from the previous owner. When I decided that my time was up and needed to move on I advertised the house for sale on a popular Thai website and I had a buyer for it within days of it going up for sale, I got almost 2 million baht more for it than I had originally paid as good teak wood houses are extremely desirable in certain areas and are getting rarer by the day. I gave up my lease with 6 years left on it and I could have walked away from it with payment of 1 years rent though I decided to pay the owner of the land the full remaining 6 years though at a reduced rate of 0.5 baht per square meter, they were extremely grateful for this, and if I ever was to return to that area to live I would look at doing similar again and with the same land owner. So yes, I owned my own house but did not own the land it was built on and the scenario was still 'as safe as houses'. Well done. I know a Swiss lady who done something similar in Lamphun near Chiang Mai. Don`t know how much it all cost her. She only stays in Thailand for a few months once in every three years. While she`s away this woman rents out the properties she had built on her leased land. She`s in a no lose situation. This is a great idea for those that know what they`re doing. 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