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trying to buy a condo under 1000000


parafareno

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1 minute ago, kingofthemountain said:

I know you know but some others BM could be intersted.

And for the ''big one'' the corner unit on the top floor

she asks 1 250 000 and i doubt she is ok to go under 1 200 000

but you can still try it

is she a falang lady?

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3 hours ago, parafareno said:

 

but I think bht will crash soon and i will loose money

Yes, buying now you are locking in a bad exchange rate.

 

The problem with these old places is the old furniture that comes with them. I think I'd pay more if they took it with them or put it in a skip

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51 minutes ago, scubascuba3 said:

The problem with these old places is the old furniture that comes with them. I think I'd pay more if they took it with them or put it in a skip

I agree, but not hard to make a condo look nice and up to western standard from the inside, pay 100k and you'll have a full IKEA room . A full western kitchen start from 30k + installation .  

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5 hours ago, parafareno said:

iam trying to negotiate some condo price but the owner does not bulge......it fits me perfectly.....but she is adamant to not give any discount....

120000 to 1100000, she does not want to do it

Walk away there's plenty more to choose from. If you were to share the name of the block and maybe pics many here would give you their honest opinions. And then as they say it will be up to you. 

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if they are that hard to sell, you should be able to get one pretty cheap.  I like being an owner because I can have things that most rentals don't have..inverter ac, inverter frig, three wire not water heater, special faucet, rebuilt toilet tank, led lighting without all the holes in the ceiling, and removal of all old ceiling files covered in 30 years of soot...my own wifi, my own MEA account, ability to do my own tm30, and ease of proving where I live.  Would never be a landlord at these yields, though. I paid under a million in bkk, can walk to MR T and the ferry.

IMG_20190219_185301.jpg

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On 11/6/2019 at 6:33 AM, jacko45k said:

Now that is not very smart, in my opinion. But each to their own. A 6MB condo is likely to have a better return. 

 

Who cares the return ? I just like to have style and I don't want to look like a cheap charlie foreigner driving a $hit jap car that I would not even drive back home...

 

 

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6 hours ago, gamesgplayemail said:

 

Who cares the return ? I just like to have style and I don't want to look like a cheap charlie foreigner driving a $hit jap car that I would not even drive back home...

 

 

Mate,I got a vehicle here that hardly leaves the drive, hard enough to get around on a scooter. Why on earth would I worry what other people think of me, I am all grown up now. 

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18 hours ago, parafareno said:

iam trying to negotiate some condo price but the owner does not bulge......it fits me perfectly.....but she is adamant to not give any discount....

120000 to 1100000, she does not want to do it

If she is a thai woman it's just like buying a car...

They have little perceptions of depreciation. 

They just think that they bought it at say 1 million baht and five years later it has to be worth more. 

 

To them a baht is a baht. 

 

For us who are impacted by low interest rates and exchange rates,  we see the depressed market and understand why the price is reduced...

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On 11/8/2019 at 10:38 PM, moontang said:

if they are that hard to sell, you should be able to get one pretty cheap.  I like being an owner because I can have things that most rentals don't have..inverter ac, inverter frig, three wire not water heater, special faucet, rebuilt toilet tank, led lighting without all the holes in the ceiling, and removal of all old ceiling files covered in 30 years of soot...my own wifi, my own MEA account, ability to do my own tm30, and ease of proving where I live.  Would never be a landlord at these yields, though. I paid under a million in bkk, can walk to MR T and the ferry.

IMG_20190219_185301.jpg

being stuck in one crappy location sucks though, especially if your not tied to one place because of work or family.

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14 hours ago, fhickson said:

being stuck in one crappy location sucks though, especially if your not tied to one place because of work or family.

Can pack my book bag and go to the beach anytime.  You are forgetting the high cost of moving.. even if you do it on the cheap.  Hours and hours of work, when all is said and done.. usually lucky if only one thing gets broken.  

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I love renting and have moved around experienced different places. Great here as 90% of the places come furnished no need to be dragged down my a bunch of "stuff".  Could get up and go anyplace I like tomorrow with a few suitcases.

And any major government issues or problems arise I can be out with nothing major left behind.

The place I am in now in north Pattaya is new will sell for close to 2.5 to 3 million b my rent is 10,000 b a month free TV channels.

I owned houses all my life started at age 21 in the states made a bundle in Calif.  Kept my money liquid in true investments.

Which is why I can spot a fake, non transparent no one truly knows what is going on real estate market when I see it.

12,000 units for sale.  You know how long it will take for that inventory to catch up to the market?

Many many years if ever as they keep building.

 

If one must buy they need to negotiate very very low. 50% may be too much but 30% lower sounds good.

Also, with the desperation, some sellers are willing to carry back paper on the units.  Meaning, you put lets say 30% down and they carry the rest for 7 to 10 years you making payments at a very low interest rate or maybe 0 interest.  Like getting a loan but no bank, the seller is it. You are not putting all your eggs in one basket so to speak.

That is what I would do if I wanted to buy. Be smart and creative negotiate, negotiate all in your favor many of these people just want out...

 

 

 

 

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1 minute ago, bkk6060 said:

I love renting and have moved around experienced different places. Great here as 90% of the places come furnished no need to be dragged down my a bunch of "stuff".  Could get up and go anyplace I like tomorrow with a few suitcases.

The place I am in now in north Pattaya is new will sell for close to 2.5 to 3 million b my rent is 10,000 b a month free TV channels.

I owned houses all my life started at age 21 in the states made a bundle in Calif.  Kept my money liquid in true investments.

Which is why I can spot a fake, non transparent no one truly knows what is going on real estate market when I see it.

12,000 units for sale.  You know how long it will take for that inventory to catch up to the market?

Many many years if ever as they keep building.

 

If one must buy they need to negotiate very very low. 50% may be too much but 30% lower sounds good.

Also, with the desperation, some sellers are willing to carry back paper on the units.  Meaning, you put lets say 30% down and they carry the rest for 7 to 10 years you making payments at a very low interest rate or maybe 0 interest.  Like getting a loan but no bank, the seller is it. You are not putting all your eggs in one basket so to speak.

That is what I would do if I wanted to buy. Be smart and creative negotiate, negotiate all in your favor many of these people just want out...

 

 

 

 

the owner does not want to negotiate, she is firm with price....so <deleted> her I say.....

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1 minute ago, parafareno said:

the owner does not want to negotiate, she is firm with price....so <deleted> her I say.....

It's her choice, choosing to play hardball, just be patient and buy a different one. It's only worth buying now if its cheap as its a bad time to buy with THB on a high and the retirement visa situation being dodgy

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3 minutes ago, bkk6060 said:

I love renting and have moved around experienced different places. Great here as 90% of the places come furnished no need to be dragged down my a bunch of "stuff".  Could get up and go anyplace I like tomorrow with a few suitcases.

The place I am in now in north Pattaya is new will sell for close to 2.5 to 3 million b my rent is 10,000 b a month free TV channels.

I owned houses all my life started at age 21 in the states made a bundle in Calif.  Kept my money liquid in true investments.

Which is why I can spot a fake, non transparent no one truly knows what is going on real estate market when I see it.

12,000 units for sale.  You know how long it will take for that inventory to catch up to the market?

Many many years if ever as they keep building.

 

If one must buy they need to negotiate very very low. 50% may be too much but 30% lower sounds good.

Also, with the desperation, some sellers are willing to carry back paper on the units.  Meaning, you put lets say 30% down and they carry the rest for 7 to 10 years you making payments at a very low interest rate or maybe 0 interest.  Like getting a loan but no bank, the seller is it. You are not putting all your eggs in one basket so to speak.

That is what I would do if I wanted to buy. Be smart and creative negotiate, negotiate all in your favor many of these people just want out...

 

 

 

 

If the market was as bad as many say, there would be many good deals, but there simply aren't.  And been hearing about no balcony lights on for 10 years+... It is just not customary to use them here.  I use mine, but got one of those Sampran led bug lights.  You are still tied to your lease... but that may simply include forfeiture of your deposit... but extensions and TM30 and 90 day reports make it tough on gypsies.  With no escrow companies here or account services, not sure owner financing would be wise, but have gone that route in the West.. A foreigner is not likely to be able to carry a mortgage, and that is where I would be looking for a discount.  I have listed a few here, and was approached by several Thais thinking I had to leave and would sell cheap... just asking for proof of funds weeds out most of them. Many just want to be a middleman.. just like those we buy ugly house people in the West. 

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4 minutes ago, moontang said:

If the market was as bad as many say, there would be many good deals, but there simply aren't. ...

They aren't yet because the greedy owners don't realize yet this is probably the last chance

to sell before the big crash.

I am not allowed to give the link on this forum but i am sure you can have it with some

google search (Ministery of finances thailand plan to help real estate)

just a small quote here

 

''Charnkitt Dejvitak, the vice-minister attached to the prime minister, said properties priced at no more than 3 million baht and bought directly from real estate firms will have the transfer fee and mortgage fee reduced to 600 baht each from the standard fees of 90,000 baht.

The discount is part of measures designed to rev up the property market, where sales have been declining, Mr Charnkitt said.

 

"The government wants the real estate sector, which has a pass-through effect with other businesses, to play a part in driving the economy from the current slowdown," he said.'' ...

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Easing ridiculously high land office fees has been done before, and will be done again.. now if they would only try a moratorium on the wine tax.  You just don't have high enough leverage here.. Yeah, they are up to their noses in debt, but not collateralized loans.  Mortgages never got stupid easy here, like they did in the West.  Not much of a foreclosure market, at all.  Look at www.bam.co.th

Hardly anything there, that you couldn't walk into the juristic office  and find a better deal on the bulliten board. The biggest factor in determining whether a home will go into foreclosure is the down payment, or how much skin they have in the game.  Couple no down with sub prime, and it was a recipe for disaster in the US.  But, there is also recourse here.. even if they quit paying and mail the keys to the bank.. they are still on the hook for maybe decades. 

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12 minutes ago, moontang said:

Easing ridiculously high land office fees has been done before, and will be done again..

Fees are not especially high?? Less than 3% (including both buyer and seller fees) for the condo I sold last year.

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55 minutes ago, Pattaya46 said:

Fees are not especially high?? Less than 3% (including both buyer and seller fees) for the condo I sold last year.

If you held more than five years... Quite high compared to the US, or selling a REIT at zero costs. 

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5 hours ago, scubascuba3 said:

It's only worth buying now if its cheap as its a bad time to buy with THB on a high and the retirement visa situation being dodgy

what happens if the visa situation gets dodgy and you have to leave.

 

does it just sit there as its already paid for? or is there some visa requirement that allows the property to be forfeited?

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On 11/6/2019 at 11:17 AM, ThomasThBKK said:

 

You could set the condo on fire and it would be still worth more than the car after it drove away from the dealership.

Cars are the most stupid way to <deleted> away money, except classics/muscle cars/oldtimers of course.

Ill never get people who waste money on cars, except the ones who use them for their work...

Somebody spoke the truth and everyone laughed at it.

 

Par for the course around here I suppose. 

 

Half the people op is getting advice from have a 1 million baht a year cigarette bill. I am not so sure these are the people to listen to. 

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18 minutes ago, fhickson said:

what happens if the visa situation gets dodgy and you have to leave.

 

does it just sit there as its already paid for? or is there some visa requirement that allows the property to be forfeited?

Visa cash problems are for the poorest of expats. Condo owners have to pay cash in Thailand so your not going to lay out 5 million baht and forget to leave 800k .

 

 

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8 hours ago, fhickson said:

what happens if the visa situation gets dodgy and you have to leave.

 

does it just sit there as its already paid for? or is there some visa requirement that allows the property to be forfeited?

the dodgy visa situation i.e. making it tighter and tighter to stay plus with insurance which may exclude all the things you need cover will reduce demand for condos simple as that.

 

The condo will just sit there, eventually gets repossessed if owners stop paying maintenance etc.

 

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8 hours ago, madmen said:

Visa cash problems are for the poorest of expats. Condo owners have to pay cash in Thailand so your not going to lay out 5 million baht and forget to leave 800k .

 

 

Good that you aren't concerned about mandatory insurance which may come in costing around 200k a year at the age of 70 which will exclude things you need it to cover

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28 minutes ago, parafareno said:

that is crazy? all retired people will go away.......i think after 70 i will be too old to come to thailand anyways.....

Insurance with high cover limits is very expensive once you get in the 60s, and really high in 70s and 80s. The real kicker is they usually exclude pre existing conditions so the things you are likely to claim on are excluded so therefore a waste of money, better to save that money yourself ready to use

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14 hours ago, moontang said:

If the market was as bad as many say, there would be many good deals, but there simply aren't.

People seem to be prepared to hold on to property here waiting for the right price. Perhaps because the overheads are low, no property taxes. 

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