thalenoi Posted December 9, 2004 Report Share Posted December 9, 2004 SoiledCowboy said:There's a banner link off the bottom of Thailand Real Estate that gives a farangs perspective of building his own Thai-style home in Pattaya for under 1M baht, it is quite an interesting read and quite informative...something a bit different from the norm. Any chance to post a direct link here? Can't find the banner....gone??? Link to comment Share on other sites More sharing options...
whosyourdaddy Posted December 10, 2004 Report Share Posted December 10, 2004 http://www.coolthaihouse.com/ Link to comment Share on other sites More sharing options...
thalenoi Posted December 12, 2004 Report Share Posted December 12, 2004 kop khun krap maak maak many hours to read before I start building that house.... Link to comment Share on other sites More sharing options...
CondomKing Posted December 12, 2004 Report Share Posted December 12, 2004 whosyourdaddy said:http://www.coolthaihouse.com/ This is a very informative site. I've just read a little and lots of good info so far. I'm in the process of building a house in Phrae right now. My wife is in Thailand "supervising" while I am in the States until the end of Dec. We are lucky to have a competant contractor who has already told me when I met him last year that he is looking forward to doing a top notch job since he has heard that Farangs expect a higher standard. I don't think he's built for a foreigner before but he hopes that by doing a good job for me it will lead to other "foreigner " contracts to build quality housing. Coincidently, there has been a mini influx of foreigners into the area so he is hoping to showcase my home. All that aside, even though we trust him to do a good job, we don't trust him enough to buy our materials. We have already been told by the local building supply that standard practise is to pad the bill by 10 to 25% and then kick back to the contractor. Our guy admitted that to us himself and told the wife that those "extra earnings" were a substancial part of his income. He agreed that my wife could save a lot if she bought the materials herself. So far so good. I'm really looking forward to arriving on site at the end of the month. BTW, we are also in the process of meeting the building requirements of our construction loan. That's for another post. Link to comment Share on other sites More sharing options...
whosyourdaddy Posted December 12, 2004 Report Share Posted December 12, 2004 Yes we are buying all the supplies for our place, escape for basics ( concrete, wiring etc) Communication is the key. Explicit instructions and dont take things for granted. If you want it done properly, step by step day by day instuctions are needed. There are tonnes of very good cheap building books at the bookstores which give ideas for thai houses. Worth the 300B Link to comment Share on other sites More sharing options...
Zorro Posted December 13, 2004 Report Share Posted December 13, 2004 CK said All that aside, even though we trust him to do a good job, we don't trust him enough to buy our materials. We have already been told by the local building supply that standard practise is to pad the bill by 10 to 25% and then kick back to the contractor I think that this is standard practice in many western countries too. It is hard to get a good and honest builder in any country. Link to comment Share on other sites More sharing options...
CondomKing Posted December 13, 2004 Report Share Posted December 13, 2004 Zorro said:I think that this is standard practice in many western countries too. It is hard to get a good and honest builder in any country. I'm sure you're right. It makes perfect sense. Link to comment Share on other sites More sharing options...
JJsushi Posted December 18, 2004 Report Share Posted December 18, 2004 flyonzewall said:, or knows how to get a mortage based on my word? sorry, just selfemployed, no fixed income to show :. Don't know how "legal" this method is but a Thai firend of mine had another Thai friend with a business 'hire" him and he made depsits(his own money) into his account every month which eventually qualified him for a bank loan to open his own business. Seems like with Thai banks there are few requirements to get a loan. Link to comment Share on other sites More sharing options...
Guest Posted December 23, 2004 Report Share Posted December 23, 2004 Seems like with Thai banks there are few requirements to get a loan. Actually, there are more requirements for getting a loan from a Thai bank than a bank in the US - officially. And many of the requirements have no rational connection with the credit worthiness of the borrower. This is a big part of the problem with Thai banks; it helps drive connected lending. The irony here is that when we point to the cronyism in the lending practices of local banks, most of the local banks will point to their complicated and "tough" lending rules as evidence that their underwriting practices are sound. But the opposite is true. Irrational lending rules simply fuel connected lending and under the table payments and other forms of kickbacks to procure loans. Thailand has not done enough to address this problem, which is why alot of us are getting concerned more concerned about another serious problem in the near term. Link to comment Share on other sites More sharing options...
JJsushi Posted December 24, 2004 Report Share Posted December 24, 2004 Actually I need to make a corrrection my friend made deposits into his account every week for 6 months before he was approved for a loan by a Thai bank. The bank required this along with a letter from the " employer" in order to make a loan of about 1mm bt. My friend has told me that he can replicate this formula at several banks because the banks have no way of communicating with each other or check that he borrowed money from another bank. I think this is a practice that is ripe for abuse. Link to comment Share on other sites More sharing options...
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