Easy Buy Scheme
Vendor Financing are properties for sale by owners who will accept stage payments. The seller will normally accept a 50% down payment with affordable repayments over 1 to 3 years. The seller retains legal ownership until payments are complete and there is a legally enforceable contract between buyer and seller. Property ownership documents are held in escrow by a lawyer ensuring the property cannot be sold to another party. Should the buyer cease to make payments then the property ownership remains in the seller’s name.
This is exactly the same as getting a bank mortgage to purchase a property and will help buyers to purchase a property sooner than they otherwise could.
Benefits:
- Increase chances of selling your property
- It is not possible for a foreigner to get a bank loan on property in Thailand
- Enables buyers to purchase earlier: Buyers may not have 100% of the purchase price on their current visit
- Flexibility for buyer to pay early with no penalties and reduce interest charges payable.
- Security for buyer and seller: Lawyer safeguards property deeds, ownership not transferred until payments are completed
- Buyer default: seller retains down payment and title
- Buyer takes possession of the property upon down payment: can move in or start renting out the property
Click Here to see a list of properties offering Vendor Financing in Phuket
Example Costs
Pay 50% of purchase price and decide on repayments over 1, 2, 3 years based on payments below.
Subject to acceptance by seller who may wish to vary term and negotiate these terms.
|
|
|
|
|
|
Reservation deposit |
150,000 |
(non-refundable deposit) |
|
|
Lawyer fees |
Shared between buyer and seller |
||
|
Repayment |
1 year |
0% interest |
(conditional on full repayment at year end, see (*) note below) |
|
|
2 years |
7% interest |
(pay 24 monthly interest payments) |
|
|
3 year |
8% interest |
(pay 36 monthly interest payments) |
|
Payment 50% |
of purchase price |
(due upon signing sales and purchase agreement) |
|
|
Stage Payments |
Either balloon payment at the end of the agreed term or monthly, quarterly, semi-annual or annual repayments |
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Repayment Interest Figures
|
Purchase Price |
Loan Amount |
Interest Rate |
Term |
Monthly Payment |
Annual Interest |
|
5,000,000 |
2,500,000 |
0% |
1 year |
0 |
0 |
|
|
|
7% |
2 years |
14,583 |
175,000 |
|
|
|
8% |
3 years |
16,667 |
200,000 |
|
|
|
|
|
|
|
|
10,000,000 |
5,000,000 |
0% |
1 year |
0 |
0 |
|
|
|
7% |
2 years |
29,167 |
350,000 |
|
|
|
8% |
3 years |
33,333 |
400,000 |
|
|
|
|
|
|
|
|
20,000,000 |
10,000,000 |
0% |
1 year |
0 |
0 |
|
|
|
7% |
2 years |
58,333 |
700,000 |
|
|
|
8% |
3 years |
66,667 |
800,000 |
Click Here to see a list of properties offering Vendor Financing in Phuket
If you wish to participate in this scheme please identify the reference of the properties and send us an email to [email protected] and advise the following:
- When you are visiting Phuket
- When you wish to buy
- Telephone contacts
- Finance available
Coming from outside Thailand? We'll pay part of your airfare upon purchase. *terms apply
