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Can expats buy a house or condo in Thailand using owner financing?

owner financingThailand real estatebuying property as an expatexpat mortgagescondo financing in Thailandreal estate advicePattaya propertyBangkok property
Jun 10, 2024
6 months ago
Eric *******
ORIGINAL POSTER
*any farangs buy a house or condo in TH using some sort of "owner financing"? I know traditional mortgage is out of the question, at least for my situaiton. Looking at all the properties id really like to get something around 8-9m baht seems like best bang 4 buck and would like to do ~3m down with rest paid over 7years @ 5% straight to the owner. Ive seen some listings on Facebook that say stuff about financing with 1/4 or 1/3rd down but when I contact them I get no replies so want to hear if anyones done this? cheers*
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TLDR : Answer Summary
The post discusses the possibility of expats purchasing property in Thailand through owner financing, considering the challenges of traditional mortgages. A user inquires about options for a house or condo between 8-9 million baht with a 3 million baht down payment and payments spread over seven years at 5% interest. In the comments, various users share their experiences and suggestions, including tips for contacting sellers, insights on the need for higher rates due to market conditions, and advice on finding sellers who are willing to finance.
Connor *******
5% is a joke. You can get a guaranteed 5% these days
6 months ago
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Casey ******
@Connor ******
 following for the 5% links as well.
6 months ago
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Eric *******
ORIGINAL POSTER
@Connor ******
 please send me some links to 5% in thailand ill just park my money there then.
6 months ago
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Eric *******
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John *********
You will have to pay more than 5%
6 months ago
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Skimo ******
Hi Eric, we can assist you with direct financing from the developer you only need the passport to apply. Brand new condo on Sukhumvit road. Please check your IB.
6 months ago
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Jeffrey **********
Do you have established Credit in Thailand?
6 months ago
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Eric *******
ORIGINAL POSTER
@Jeffrey *********
 no, I have enough cash in bank to write a check for the house completely but id much rather finance and the invest the rest.
6 months ago
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Eric *******
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Tim *******
where you looking to buy ive a property in bkk for sale with owner finance if required
6 months ago
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Chris *****
Simply agree on paying in installments over 30 year period. Likely Thai owner will ask a higher lease period price. It's not officially (in legal terms) a loan but solves the problem if you can't pay cash upfront 🙏
6 months ago
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G ********
@Raymond ********
 might be able to recommend something/someone suitable!
6 months ago
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Terary **********
I bough/financed my condo. That was done privately through an acquaintance. I found no financing options but I did find individual sellers who were willing to finance. I think if you want to finance you will need to reach out to individual sellers. Hence, you're looking for a house that costs xxx and the owner is willing to finance (which means the sellers is getting a premium).

"As of June 7, 2024, the US prime rate is 8.50%"

5% home financing maybe a bit low. If you're financing you may want to wait a year or two.
6 months ago
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Bob **********
RENT
6 months ago
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Oliver ********
I know a Thai who did this as the seller, but only because nobody wanted to buy the property outright. You're setting yourself up to get hurt by adverse selection.
6 months ago
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Jack ****************
Get out of the tourist areas. 3m will set you up quite nicely in a place with no sunburned tourists.
6 months ago
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David *******
There are some agents that advertise condo purchase this way. From what I’ve seen, most tend to be in buildings where it’s more difficult to sell and all have an asking price significantly above open market prices. I guess this is the ‘interest rate’ but impossible to calculate without detailed knowledge of actual recent selling prices for normal cash sales.
6 months ago
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Stephen ********
I'd imagine someone will do a loan of that kind if you can back it.

Although 5% looks an optimistic rate in this world at the moment.
6 months ago
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Kornvara ************
Owner financing in Pattaya available. Only condo in Jomtien, Pra Tumnak.
6 months ago
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Eric *******
ORIGINAL POSTER
@Kornvara ***********
 im looking in western Pattaya-northern jomtien areas
6 months ago
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Kornvara ************
Are you in Pattaya or Bangkok? I will be in Pattaya on Wednesday 12 June 2024. If you are interested to have a look, send message to me inbox.
6 months ago
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Kornvara ************
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Tom ********
Try contacting them in a private message in Thai, use google translate and also comment on the post that you have messaged them, works for me and I get lots of replies .... good luck,
6 months ago
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Steve **********
@Tom *******
 Condo ONLY, beware of others saying can .
6 months ago
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Steve **********
@Tom *******
 agree, but after 20+ yrs on both sides of that coin, found as true rather than ' depends ' but yes, saw it successful once in 07
6 months ago
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Tom ********
@St***
 Yeah not my first rodeo either 🙂
6 months ago
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Steve **********
@Tom *******
 to old now to ride, but remember I every fall.
6 months ago
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Tom ********
@St***
 There's no need to 'fall' if you do things the right way, Farangs can buy houses on new developments and have a lease for the land and some will even offer short term installments.
6 months ago
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Steve **********
@Tom *******
 I understand !

Have friend did it In Mae Rim..lease will outlive him, his wife was the consideration
6 months ago
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Tom ********
@St***
 I think the leases will outlive most of us but if you get what you want out of it then thats all that counts
6 months ago
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Steve **********
@Tom *******
 with you 100 %.
6 months ago
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Steve **********
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Tom ********
@St***
 Depends on each persons situation but I know what you mean
6 months ago
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Tom ********
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