Foreigners are generally not a local Thai bank loan to Thailand to finance the purchase of investment properties. Most financial institutions in Thailand, loans for the purchase of Thais and Thai companies.
In recent years, Bangkok Bank (Singapore) for a loan with a qualified residents was very similar to those in the West. You need an application for a certificate of income tax returns and other documentation. WithThis program allows buyers to finance up to 70% of the purchase price of the house. The problem with this program is that it is not always available, and as of this writing, the program was put stop.
In some areas, such as the Pattaya beach resort, local banks have started loan programs for foreigners who live and work design in Thailand. Kasikorn Bank, for example, allows foreigners who work for two years or more, the mortgage financing for up to 50%Property value object. The program was just launched in early 2010.
With the current global financial situation, it is best to explore the options directly with Kasikorn Bank, Bangkok Bank (Singapore) and other financial institutions, the current status of the loan programs that may be made available to foreigners.
If you do not arrive in Thailand mortgage to buy the dream house of yours, do not worry. There are several optionsThem.
Developer Financing
financing for developers have increasingly in Thailand over the past two years. The proposals range from 2 to 10 years of financing available to buyers of new homes and apartments in Thailand. This funding is directly from the developers. As a result, the structure of the individual concerned.
An example of such a program, The Meadows, a residential project in Pattaya. The developer has 50% of the funding in three years at 8% per year.Although the life of the loan for other programs and as long as conventional mortgages in the United States and Europe, these programs make sense.
Be careful with offers for "free finance" or "0% interest." Of course, the purchase price in this scenario is inflated to the cost of capital for the developer to cover. The best way to negotiate the best possible purchase price is then negotiated the financing deal from the price. Provide a clear indication of the market andMarket prices before they lead to an investment.
Seller Financing
individual owners have recently become more receptive to the growth of loans to purchasers of homes and condominiums in Thailand as a means to stimulate their interest in promoting the sale of the property. Such an agreement with the buyer and seller sign the deed and a promissory note.
If you use an agent to let them know that you are financing. They areProbably have some inventory of the property where the sellers deferral. If you negotiate directly with the seller, just ask if they are willing to pay for a given period and the interest to accept.
As developers of the financing of the purchase price, separately purchased by the terms and conditions of the loan. Important to note is the fact that the seller remains the property deeds (Chanot) the property was not created to repay the loancomplete. Make sure your attorney reviews your business and ensures that all documents to date and securely fastened to protect your investment.
Other options
There are generally two options available to foreigners in Thailand to their home to buy or finance condo. Historically, foreign buyers, many countries have a mortgage on their house to their homes. This is harder than ever to the economic crisis but an opportunity for some.Again, contact your local bank to determine what programs are available to you.
In some cases, the Thai foreign national spouse of a mortgage may qualify for a. In this case, the purchase agreement (and promissory notes) are managed by the Thai woman. If the foreigner is the name of the financing of a substantial part of the costs that foreigners should register in term ground lease (the Thai spouse as "landlord" andthe stranger as "Tenant"). Consult your attorney for the tax consequences of such an investment structure to minimize.
It is also possible to structure a lease to afford your desired property. available structures belonging to the lease option to buy long-term lease. Each lease with more than three years can be registered on the title to the office of the territory in which a house near a contractual right to occupy the house orCondominium. Most of the local Thai prosecutors can handle this on your behalf for a small fee.
So do not worry if you do not get a mortgage to Thailand to buy your house. There are options available. Into employment with a real estate professional, the best real estate and financing structure for you to find.
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