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  1. #1
    My kind of town
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    Let's Talk Real Estate In Thailand

    Has anyone done any creative financing in Thailand?

    Maybe a no money down deal or seller finacing?

    Anyone bought an apartment building for the wife and making money?

    Share your experiences with us.

  2. #2
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    I would have thought there would plenty of the second variety, seems as soon as a block goes up for sale around my place, another sign appears soon after doubling the price.
    These so called developers are no better than speculators, seen so many take the money and run.
    I have bought two houses, one in Korat, and one in Bang Saray.
    We use both, with extended family.
    We have another block in Bang Saray, but building at the moment is not our option. We also have 20 or so rai under Teak saplings (7 years now). Both these are long term return investments for our daughter.
    I think right now it is better to cash up, as prices will fall over the next 12 months, and then we intend to buy a few units in Ban Amphoe. I think Pattaya and Jomtien are saturated and will not give a very good return.

    There is alo a few good deals in Ao Udom at the moment we are considering, around 10k a sq.m.; which is half what Patts want now.

    Some conglomerate has indicated a 150 plus room development in Bang Saray, hope it never starts otherwise the place will end up like Patts and Jomtien.
    Last edited by Ban Saray; 04-01-2008 at 10:08 PM.

  3. #3
    Thailand Expat AntRobertson's Avatar
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    Quote Originally Posted by Ban Saray
    seller finacing
    Yep, done that.

  4. #4
    My kind of town
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    ^ Ant, you financed a house or a seller allowed you to buy on contract?

  5. #5
    I am in Jail
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    I thought wine was quite expensive in thailand

  6. #6
    Rhubarb, rhubarb, rhubarb
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    Why bother with Thailand? Singapore is the place.

    I had a friend who bought a private condominium 3 years ago. 50% financed from the bank. He bought it for S$800,000. He put in a tenant that payed enough rent to cover the monthly repayments. He sold it 3 weeks ago for S$1,600,000.

    Hard currency. Easy to transfer overseas. Easy to get loans at low interest rates. Rule of law. As I said, why bother with Thailand?
    Phuket - Veni Vidi Veni

  7. #7
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    Quote Originally Posted by Sir Burr View Post
    Why bother with Thailand? Singapore is the place.

    I had a friend who bought a private condominium 3 years ago. 50% financed from the bank. He bought it for S$800,000. He put in a tenant that payed enough rent to cover the monthly repayments. He sold it 3 weeks ago for S$1,600,000.

    Hard currency. Easy to transfer overseas. Easy to get loans at low interest rates. Rule of law. As I said, why bother with Thailand?
    For me it is because I live here. I would invest in Singapore if I lived there.

  8. #8
    Rhubarb, rhubarb, rhubarb
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    You don't have to live in Singapore to invest in it. Seems to me a much better choice to make money. Why would you have to be there?

  9. #9
    Thailand Expat AntRobertson's Avatar
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    Quote Originally Posted by chitown
    ^ Ant, you financed a house or a seller allowed you to buy on contract?
    Sorry, I was typing that one-handed whilst burping one of me wee lads. I bought on contract from the seller. Made perfect sense at the time, repayments were only about what I would've been spending on rent, and interest minimal (less than bank loan at any rate).

  10. #10
    or TizYou?
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    Mrs TizMe bought a house in Jomtien 2 years ago on seller finance. 50% down and the balance over 2 years. She just made the final payment.

  11. #11
    Thailand Expat nedwalk's Avatar
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    ^ curious, for what purpose originally, residence or investment, did if for investment, return enough to cover original principal or did capital growth nail the original debt?

  12. #12
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    Quote Originally Posted by AntRobertson View Post
    Quote Originally Posted by chitown
    ^ Ant, you financed a house or a seller allowed you to buy on contract?
    Sorry, I was typing that one-handed whilst burping one of me wee lads. I bought on contract from the seller. Made perfect sense at the time, repayments were only about what I would've been spending on rent, and interest minimal (less than bank loan at any rate).
    Did you find out about thru word of mouth or did you make the offer on a house that was for sale? Who came up with the finance plan the seller or you?

  13. #13
    Thailand Expat AntRobertson's Avatar
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    ^ The seller did in our case. We had seen the house and liked it but were still kinda umming and ahhing about it as you do. As he (the seller) said at the time he'd rather have had a certain sale on his hands than go through all the bother of looking for other buyers so offered us some good terms - which, obviously, swayed our minds.

    We sat down together and nutted out the details and I drew up the agreements.

  14. #14
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    Did he title the land to you with the contract attached or did he title it to you after you paid it all off.

    I bought and sold many, many houses in Chicago with creative financing and I am wondering if it works here.

  15. #15
    Thailand Expat AntRobertson's Avatar
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    Basically all the deeds/transfer documents etc were signed by all parties and they are being held in escrow by the lawyers - once we've made the final payment then they will be delivered and the transfer done at the land office as per.

    As for 'creative' financing it's emminently 'doable' in my opinion. I don't know about other areas of Thailand but the Chiang Mai property market seems rather stagnant so often sellers are more than happy to make alternative arrangments to sell - just matter of asking I suppose.

  16. #16
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    I was thinking of offering a contract purchase where my wife (I ) make payments for ten years at 5% interest. That would pay the house off free and clear and the seller gets 5% interst on his money - way better than the bank will give him.


    New constuction in my area has grinded to a halt. There are many "new" houses that have been abandoned under construction. One whole neighborhood thta was being built has hlted in the middle of construction due to the lack of buyers. One project is offering no money down - no payments for two years if you buy a house that they have built and have not sold. They will also pay all title transfer fees.

  17. #17
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    Bought a condo in KL with 80% financing. A lot of paperwork involved, but no more difficult than UK. Market seems to have moved up 15-20% since I paid the deposit, building should be finished in early 2009.

    Unlike LOS, this qualifies me for "Malaysia my second home" visa allowing 5 year + stay + tax free import on a car. Although paperwork is really onerous for that. Need a bank account to get MMSH visa, but bank needs to see visa to open an account. In the end they took a photocopy of my tourist entry stamp, opened an account and even offered me a "platinum" visa card with 4000US limit. Go figure!

    Not sure whether buying some land in LOS (pattaya) was a good idea or not yet. Still waiting on build permit.

  18. #18
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    Quote Originally Posted by Ban Saray
    These so called developers are no better than speculators, seen so many take the money and run.
    Stick to your loan-shark business

  19. #19
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    ^Yep, but remember it's not my business, it's my wifes.
    And she is only small fry compared to many others in town.
    One last point, my wife has had people borrow the money and run, there is a certain amount of risk involved.
    Me I work for a living - boring.

  20. #20

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    ^Who financed her with her initial capital or how did she get her initial capital?

  21. #21
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    Quote Originally Posted by chitown View Post
    I was thinking of offering a contract purchase where my wife (I ) make payments for ten years at 5% interest. That would pay the house off free and clear and the seller gets 5% interst on his money - way better than the bank will give him.


    New constuction in my area has grinded to a halt. There are many "new" houses that have been abandoned under construction. One whole neighborhood thta was being built has hlted in the middle of construction due to the lack of buyers. One project is offering no money down - no payments for two years if you buy a house that they have built and have not sold. They will also pay all title transfer fees.
    Think you'd probably find a few takers on this sort of deal, but the time period would have to be shorter IMO.

    Is it possible to take over one of those unfinished houses and complete yourself, or has the whole project been shut down??

  22. #22
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    ^Can't find anyone that knows anything about them.

    It would be like lving in a ghost town. One house completed and 25 shells of a house around you.

  23. #23
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    ^Perhaps, there was an area like that near Bang Saray 10 years ago, then 2 years ago in rolls a bulldozer and knocks down what's been built. Then a fence goes up around about half the said estate, and some guy moves in and builds himself a mini ponderosa.
    The impression I get from all this was, that he cut a deal - and probably a pretty good one.
    I think with the visa and immigration laws being in such a flux, that hard cash has pretty well dried up, so if you had some to offer you could negotiate a pretty good deal as far as time and rates were concerned.

  24. #24
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    Their is a large developement in behind Pattanakhan soi 30 in Bangkok, maybe 150 to 200 houses and all of the style that would sell for around 6-10 million in todays market. These were built up to move in stage, You can even see the remains of the landscaping efforts.
    Now they are abandoned and stripped of everything that can be taken off. The google image of the area showed them complete with roofs etc.
    Amazing to see so much money dumped.

  25. #25
    I am in Jail
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    Quote Originally Posted by AntRobertson
    We sat down together and nutted out the details and I drew up the agreements.
    do you have a generic copy of such agreement ? I would be interested to look into it, I am assuming it's in English, not Thai, or is it also in Thai ?

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