Post by rgs2001uk on Feb 11, 2016 22:35:33 GMT 7
If you want a cheap house for a quarter of its build value, head to Nakon Nowhere and snap up a farang mcmansion, eg, house cost 4 million to build, in the middle of a paddy field, girl selling it for 2 million, no-one in the village can afford it, we go and look, beautiful house, granite tiles etc etc, we have a look round, nothing for miles around, on the way back, the girl phones and says if you pay cash we can have it for 1 million, she wants to get back to Chiang Mai.
The dream home built on the dreamy relationship. The relationship, for what ever reason sours, the house becomes vacant, being in the Thai persons name, it is theirs to sell.
But, there are no buyers, few Thai buyers, no Western buyers.
I'm just surmising as I have little knowledge of the Thai market ... except to say that farm land with poor road connectivity in my area sells for about a Million Bht / Rai.
that was the price paid to 3 separate Thai owners and sold to a Thai. Each holding (Farm) was in the order of 6 Rai.
It's strange how they work the exchange/settlement.
A deposit has been received (and spent) by the current owners, settlement hasn't occurred and appears won't for some time yet.
My background is in Property, I have a specialist degree in it.
Personally, I very wary of buying anything here, but maybe I'm over cautious.
If something appropriate is offered up, and we have the finances, I'd look at putting it in the kids names as they are Thai, thus allowed to own land, the court protects them until they reach legal age. To protect my rights, I'd take a long lease over the property, i think the correct name is a Usufruct?
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They are to be found all over the place.
Makes me laugh when I hear guys saying I only bought as security for the mrs once I am gone, the first thing the girl does is try to sell it, its dead money, dont these guys have pensions the mrs will inherit?
The other laugh is, oh if we get divorced it will be split 50/50, yeah right, thats if it can actually be sold for anywhere near its original cost.
Many Thais are like homing pigeons, they will head back to their village, hence many farang end up in the back of nowhere, what i am saying is, Thais very rarely move to another province/village, they dont feel comfortable, they dont know where they fit in, no family and no friends are the two reasons I hear most.
I can offer some insight on the way it works, in Bkk, a proper contract will be drawn up, X to be paid now, with the difference to be paid by such and such a date, if not paid, deposit is lost.
Sometimes an escrow acount will be used, buyer and seller will deposit lets say 300k baht each, with deal to be completed by such and such a date, if either party pulls out deposit is lost.
In many cases the seller isnt really bothered if the deal falls through.
When you studied at school for your degree, did they teach you anything about, face, ghosts, or feng shui?
Cant work this out, land on LH side of road, no chanote 50k per rai, land on opposite side of road 300k per rai, answer it has chanote.
I dont know why farangs beat themselves up about chanotes, it makes no difference, the farang cant own it anyway.