here
https://www.propertyinvesting.com/forums/property-investing/help-needed/4329871?#comment-198359

Depends if you mean you are relying on an increase in value or if you borrowed a low amount and wish to access equity based on purchase price. For the first one it is usually 3 months if LMI are involved unless you can justify why the place has increased in value (eg you may have renovated). If not LMI then usually anytime. , for the second one it is usually anytime.

You can have one big loan or 4 little ones – It doesn't really matter to the bank. Just be aware that if the other 3 people don't pay the 4th one must. each is liable for the whole debt – which is risky legally. It will also affect future borrowings as when going for a new loan the bank will asses each person as owing the full debt.

Also consider or try to anticipate things that can arise in the future. Like 1 couple wants to sell, but the other doesn't. The remaining couple may not have the ability to buy out the others, so what do you do. Or if your property doubles in value and all that equity is sitting there – do you agree to access the equity, let the other couple take out a LOC, or use the property as security for a new property in their names only etc. What is one of them goes bankrupt, or they divorce etc. Planning what you can do now can save arguments later.

A deposit bond won't help at all. These are only meant to replace the deposit (10%) until settlement. You will still have to come up with the money at settlement. If Ray has bought it already that means he has the initial deposit sorted anyway.

Post a letter to the adress.

Do a title search and you can find out their names – but you won't find out where they live.

It will be pretty difficult to get a loan to be used as a deposit on a purchase. memberfirst.com.au can do personal loans up to $30,000 at 9.25% but they won't lend for deposits unless you are contributing your own funds too.

It can take around 3 weeks to get the actual cash as the bank has to send you documents, you sign, send back, and then settlement booked in etc. maybe 2 weeks

And did you realise that with building loans the person has to chip in their bit before the bank starts releasing funds. eg. if you have borrowed 90%, then you must pay the first 10% and then the bank starts paying.

Are you sure you are not exemption from land tax
see LAND TAX MANAGEMENT ACT 1956 – SCHEDULE 1A
http://www.austlii.edu.au/au/legis/nsw/consol_act/ltma1956173/sch1a.html

Hi Kimmy

I suppose it depends on the wording of your contract. If you say subject to approval with westpac bank for an amount of not less than $320,000 than i think a pre-approval will not make the contract binding as it is not approved yet. But if you were to tell the agent or the vendor the loan was approved when it wasn't then you are effectively giving up reliance on that clause and ratifying the contract – so you could be locked in.

In Thailand a foreigner cannot legally own land. But there are a few ways in which you can get around things.

1. Form a company. The company must have a majority of Thai shareholders, some say 51% otthers 61%. You will need 6 Thais and yourself in there. It is best to try to get 6 people who do not know each other so it is harder for them to plot against you. You can also have different classes of shares – them with shares that have no voting rights attached so that you can control the company at all times.

This is less than ideal as you have minority shareholdings and things could change and your may lose control. There are also complexities with set up and tax issues etc.

2. Get a Thai person to own the land, you can then construct a dwelling on it and retain ownership of the dwelling with proper paperwork etc. This only works with new stuff tho.

3. Get a thai person to own the house and land and you can then enter into a lease with them for 30 years (the max) with the option to renew twice, so a 90 year lease in effect. This can be registered on title and any prospective purchasers would be scared away.

But why would you want to buy in Thailand? it is very risky, much better and cheaper to rent in my opinion. Invest your money in Australia.

I would never buy in Thailand for a few reasons including:
– corruption is rife. Things can be changed for money – eg your lease may be removed from title, house may be mortgaged without your knowledge etc. you don't want to get involved with this sort of shit.

– It will be difficult to get a loan there unless you are workign there.
– If you want to rent it out you will be ripped off by everyone – repairs, management, water charges, electricity etc.
– Politically unstable. Thereis a coup every 9 years on average.
– King is getting old, when he dies there could be large disruptions, political conflct etc

Invest here and rent there.