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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
2 years 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*
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.
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Connor *******
5% is a joke. You can get a guaranteed 5% these days
Casey ******
@Connor ******
following for the 5% links as well.Eric *******
ORIGINAL POSTER@Connor ******
please send me some links to 5% in thailand ill just park my money there then.Reply to
Eric *******
Reply
John *********
You will have to pay more than 5%
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.
Jeffrey **********
Do you have established Credit in Thailand?
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.Reply to
Eric *******
Reply
Tim *******
where you looking to buy ive a property in bkk for sale with owner finance if required
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 🙏
G ********
@Raymond ********
might be able to recommend something/someone suitable!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.
"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.
Bob **********
RENT
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.
Jack ****************
Get out of the tourist areas. 3m will set you up quite nicely in a place with no sunburned tourists.
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.
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.
Although 5% looks an optimistic rate in this world at the moment.
Kornvara ************
Owner financing in Pattaya available. Only condo in Jomtien, Pra Tumnak.
Eric *******
ORIGINAL POSTER@Kornvara ***********
im looking in western Pattaya-northern jomtien areasKornvara ************
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.
Reply to
Kornvara ************
Reply
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,
Steve **********
@Tom *******
Condo ONLY, beware of others saying can .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 07Tom ********
@St***
Yeah not my first rodeo either 🙂Steve **********
@Tom *******
to old now to ride, but remember I every fall.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.Steve **********
@Tom *******
I understand !Have friend did it In Mae Rim..lease will outlive him, his wife was the consideration
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 countsSteve **********
@Tom *******
with you 100 %.Reply to
Steve **********
Reply
Tom ********
@St***
Depends on each persons situation but I know what you meanReply to
Tom ********
Reply
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