Selling your Home?
There’s too much inventory and not enough renters even before the covid situation. So how does this favor the renter or buyer. As it is property here is way overpriced and rentals were steadily rising before covid. Lol so what’s a good deal? What covid actually did was bring everything back to reality here in the land of smiles. You say because of covid everything is cheap but hopefully everything goes back to being expensive when covid is over. This place is just one huge bubble that’s waiting to explode and all this covid thing do was speed it up.
HE has got 8,500 bht already in his pocket so if the nett income from the unit is 5000 then he can pay the owner 13,500 pcm and still be better off than he would have been if he sold the unit at the proper price. I only found out after they emailed me a notice one month after it was due. I’m still well within my rental guarantee timeline, so it hasn’t expired. Their reasoning for suspending the rental guarantee wasn’t due to covid. I wasn’t initially informed of when the payment was required. John Squire, thanks for taking the time to comment, it’s greatly appreciated. They stated because I paid the maintenance fees late.
My solicitors advice was to return all my money in my Thai account back to my London a/c and then transfer it back to the Thai a/c , in just 1 big transfer, with the specific reason “to buy property”. My good friend in real estate here in Bangkok told me how one Chinese guy bought a 38m condo. Similar advice was also given by a senior sales rep at a new Lumpini build we visited recently. Well, yes, generally people transfer in one lump, but arranging a few transfers is no problem if it’s a huge amount.
Dont forget Thais only want new units, so you are limited and controlled under the 51% condo building rule. To live in, yes, but as investments they’ll buy anything at the right money. Key point. After 13 years and at a time when the Thai economy was doing ok prices of old units had barely risen. I have to say it was the worst investment I have ever made and the luckiest. That’s not true about Thais only wanting new units. Have you seen bank interest rates over the last 10 years vs the price increase of Bangkok property? I recently sold a 21 year old unit to a Thai investor after luckily renting it out for 13 straight years.
I’m in a position to perhaps buy a condo within the block which my g.f, son, and I rent. Any good experiences of them to tell? There are many cheaper lawyers but they are reputable. Can any one recommend a true and honest solicitor / Lawyer in the BKK area? Has anyone tried the Siam Legal company of Solicitors, also available in U.K and other places outside of Thailand. Hi Hugh,I can vouch for Siam Legal. Any advice ( even DON’T DO IT ) would be appreciated. I believe most Thais are up for a bit of dishonesty / fraud if it goes their way.
