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A positive story about buying a house in Thailand


MercyMike
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I don’t understand why you gave your gf 49% and her mum 2%?
Surely if things go bad for either of them then they can use the house as collateral?

I thought it was more normal to have someone independent to have the 2%?
 

I looked at buying a house here and decided it was too risky so got a decent condo with a good developer in Foreign allocation so everything is legal.

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If I had told my story at the same point as you've told yours then mine would have seemed OK too.  

It's not over til it's over.   :Think1:


Edit - Sorry, forgot........Good Luck.   :rolleyes:

 

 

Edited by Edge
Good Luck

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2 hours ago, article22 said:

I don’t understand why you gave your gf 49% and her mum 2%?
Surely if things go bad for either of them then they can use the house as collateral?

Yes i though that too, but it doesn't matter as they have zero percent of the votes. I can sell the company without any need for agreement on both on them. Selling the house is a matter of transferring my shares to someone else, there isn't actually any real estate transaction. 

Edited by MercyMike
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2 hours ago, Edge said:

If I had told my story at the same point as you've told yours then mine would have seemed OK too.  

That sure is a long story, i will read it as soon as i have some time and hope everything is ok with you.

Also my TGF has a history of an ex boyfriend that she refunded her house in Isan too (800k), so there is an added element of trust even though that is not needed. 

Life is full of risks, we can only try to limit them as much as possible within the things we want to do.

Edited by MercyMike
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45 minutes ago, MercyMike said:

That sure is a long story, i will read it as soon as i have some time and hope everything is ok with you.

Also my TGF has a history of an ex boyfriend that she refunded her house in Isan too (800k), so there is an added element of trust even though that is not needed. 

Life is full of risks, we can only try to limit them as much as possible within the things we want to do.


Don't worry I'm not going to harang you.
People will always make assumptions and jump to their own conclusions (as you have :rolleyes:) or just believe what they want to believe to justify why they never took any chances in life.
My problems were mainly due to a crooked Thai Lawyer rather than the Ex......in fact she was a 49% shareholder in a house I bought about 5 years later, so I suppose I still trusted her.

One of the things I got wrong, which I'm surmising applies to your house if the plans were already in place.......assuming planning consent was required, whose name is on it?

 

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1 minute ago, Edge said:


Don't worry I'm not going to harang you.
People will always make assumptions and jump to their own conclusions (as you have :rolleyes:) or just believe what they want to believe to justify why they never took any chances in life.
My problems were mainly due to a crooked Thai Lawyer rather than the Ex......in fact she was a 49% shareholder in a house I bought about 5 years later, so I suppose I still trusted her.

One of the things I got wrong, which I'm surmising applies to your house if the plans were already in place.......assuming planning consent was required, whose name is on it?

 

Yeah true about conclusions, everyone including myself takes them too quickly it's human nature sadly. I am not sure i understand your question fully but the land/house and planning were on the project company before they were transferred to my company. 

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35 minutes ago, MercyMike said:

................................. I am not sure i understand your question fully but the land/house and planning were on the project company before they were transferred to my company. 


In my case, we applied for Planning Consent ourselves but the officer asked the Ex to sign the application (bit Thai rak Thai)) albeit I paid the 15k Fee.
Several years later I was told by my then Lawyer that this was significant as it meant that she was entered as the house owner....as well as the land owner (whom I Leased from) so my position was significantly weakened.
This one I put down to my mistake.
I don't know if or how that can be changed later.

I subsequently read about some disputes in the Hua Hin and Phuket areas where a Developer had 'sold' houses under the 30+30+30 year Lease heading which was decreed unlawful (30 years is max) or at least unenforceable.
In taking actions to get ownership the buyers ran into problems because the Developer's wife's name was on all the Planning Applications.
I was left convinced that the name on the application is significant, but I may not have it exactly right.

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