Best Way to Find Foreclosures – 5 Tips for Finding Foreclosures

Are you looking for foreclosures in your area? Conditions in various seller’s markets may be different but there are still ways in which you can easily find foreclosed homes for your ownership.

Tap the services of real estate agents. Real estate agents are given access to a system which is known as MLS or Multiple Listing Service. It is through this system that the agents are able to find foreclosed homes in a specific area. Thus, tapping such professional is one way to find a foreclosure.

Scout for real estate yard signs. Banks are still into the practice of putting yard signs into properties that have come back to their stables of possessions. There are variations of these signs but aside from foreclosure, included among the most common signs are bank-owned, bank repossessed, and bank repo. Typically, the real estate agent’s name is reflected on the sign. Take the opportunity to call whoever is written on the sign. with advanced thinking, you can already ask about forthcoming foreclosures in your area.

Join social media groups geared towards foreclosure buy and sell. Social media has become habitat to a variety of groups with different purposes and goals. Foreclosure groups are no different. They have thrived and lived on social media. If you are savvy enough, you will be lucky to find some groups over Facebook. Join them. You’ll not only find foreclosures in your area. You will also be up for learning from the experiences, tips, and suggestions that will be shared by other members.

Visit real estate websites. Apart from the real estate agents themselves, a lot of real estate firms maintain official websites. There are firms which concentrate on foreclosures. There are also those which offer the buying and selling of mixed properties along with foreclosures. Either kind, you can browse through their listings and filter those properties that are already foreclosed or those that are nearing repossession.

Make your own ads. Digital marketing, aside from being free, is powerful in terms of the number of reach it can have. A single post can reach multiple sellers. Utilize your social media accounts for free posts that you are looking for a foreclosed property to buy. Just patiently wait for responses, and you’ll be more than happy to see that there are indeed a number of persons who are willing to negotiate for their foreclosed homes.

Foreclosed properties are just near your place. By finding them and giving good offers, you are not only taking a step towards buying a dream house or an investment property. You are also making someone benefit from the amount that will be granted when deal is closed.

Immobilienmakler Heidelberg

Makler Heidelberg

Choosing a Realtor – Tips to Help You Choose a Real Estate Agent to Sell Your Home

Having a Hard Time Choosing a Realtor?

Choosing a Realtor when selling a house can get confusing and difficult especially taking into account the fact that there seems to be as many real estate agents trying to get your business as there are houses. Okay that may not be at all true but you get the picture.

There will be so many real estate agents promising you the stars whilst charging fees that vary wildly. One has to learn to pick the best one that not only will find you the buyer who is willing to purchase your house at the best price but also the one whom you can trust and work well with.

Follow These Tips to Choose a Realtor That Is Right For You

Always Ask For References – Don’t be so confident about your ability to judge a person’s character. If the agent is really good then ask him or her for references on recent sales. Contact those references and let them narrate to you their experience with the agent. Chances are if there are negative reviews, comments, or complaints about the Realtor then you would know about it soon enough. 

Cheaper Is Not Always Better – Do not always go for the real estate agent who charges the lowest commission. Realtors and real estate companies often shoulder the cost of listing and marketing your house to potential buyers. A huge pay-cut in commission may mean at the very least a listing in the open market but very little assistance and effort from the agent beyond that. Also, a relatively higher incentive will motivate your agent to drop everything and hurdle any challenges that may come his or her way. Simply put, you will get what you pay for.

Benefits Of Choosing Wisely – Another thing to consider is that in a selling transaction two real estate agents are often involved in every sale. Often times, it is a practice by the real estate agents to cede fees to the buyer’s agent. If commissions for your agent is tight then he or she might not be willing to cede fees to buyers‘ agent thereby decreasing the chances of a completed sale.

Immobilienmakler Heidelberg

Makler Heidelberg

5 Tips for the First Time Home Buyer

Buying a home is a big step in your life and should be a very exciting time. Unfortunately, many individuals rush into buying a home with out considering the implications is has on their future. If you’re considering making the move to own it’s important you weigh all the options, and consider what if anything will affect the feasibility of you’re purchase. If this is you’re first time in the housing market consider the following before you make your big move.

  1. Get Your Finances in Order

    Have a lot of debt racked up? If thats the case, you may want to play catch up before you even think about buying a home. Bad credit is bad news for those who want a buy a new home. In most cases you will need to get a mortgage before you buy and this means your credit will be under scrutiny. Start getting acquainted with your credit score and begin fix the problems well before you apply for a mortgage.

  2. Think about the Future

    If you have a job or other obligation that may require you to move or travel for extended periods of time you want to think twice about rushing into the housing market. Buying a house is a commitment that will tie you down to a particular location for at least a few years. It’s not easy or economically feasible to pack up and sell your home at the drop of a hat.

  3. Educate Your Self

    As a first time home buyer one of the worst thing you can do is go into the market unprepared. Familiarizing your self with words and phrases that are used will allow you to better comprehend the market. A better understanding of the home buying process will enable you to make a well educated decision when it comes to you’re final purchase. Entering the market blindly can turn you’re home buying dreams into a nightmare.

  4. Be Rational

    We all want to live in the home of our dreams. Unfortunately, like most things in life, the housing market must be approached from the bottom up? Renting is the start of the home owners journey. With your dream home serving as the final destination you will most likely need to take a few stops on the way there. The logical step is to buy a house you can afford not one that lands you in economic turmoil. Consider your first home an investment that you can improve upon over time. Once the home is improved you can sell it and bring yourself one step closer to your dream home. Buying out of your league can be a huge problem so set a budget and find a home within your means.

  5. Ask For Help

    Don’t be determined to have a go at it alone. Buying a home is a complicated process and sometimes it really helps to have someone walk you through it step by step. Agents are more than willing to help you look through home listing, find what your looking for, and ultimately take you from start to finish.

Immobilienmakler Heidelberg

Makler Heidelberg

First Time Homebuyers and Down Payment Assistance Programs

May 27, 2010 Down Payment Assistance Programs (DPA’s) for First Time Home Buyers By: Michael A. Foote, CMB

There is money available for first time homebuyers today. In a much needed addition to financing products available today, down payment assistance programs are available once again. Down Payment Assistance Programs are generally a local, state or federal grant or bond program designed to assist certain persons with certain income levels in certain areas, with money that can be used for down payment and closing costs on many purchase loans.

These tax free grants or loans are generally forgivable provided the buyer stays in the home for a designated amount of time. And these dollars can dramatically change the amount of money required for closing when these first time homebuyers buy a home. For example, a typically FHA borrower may have to come up with over 4-7% total of the sales price whereas a borrower with a WISH down payment assistance program may only need to bring in 2-3% total. That’s a huge amount of money on a several hundred thousand dollar transaction. If you amortize out that difference the savings are literally tens of thousands of dollars since most closing costs are financed in the new mortgage.

So what does the process with „DPA“ look like when compared to the regular loan process. Quite frankly, it’s seem less to the user insofar that the lender will generally have to deal with the additional hoops during the process. For the borrower/buyer they probably wouldn’t know the difference. The only real difference is a potential for a slightly longer loan processing time. So is DPA a good idea? Well, lately it has been a challenge for Realtors to get clients using FHA let alone FHA WITH Down Payment Assistance so an argument could be made that using DPA on an Offer to Purchase could be a determining factor for the seller’s side when these choose the offer to open escrow with. The only cure for this pitfall will need to be more product on the market for properties up to the $400,000 range as DPA generally have no purpose and no qualifying borrowers as the sales price rises and/or in areas of high per capita income. Undoubtedly, DPA has a place in today’s financing landscape and those of in the industry are happy to have it, it is one more additional tool to increase homeownership for low to mid income families. And this product will help sell the forecasted shadow inventory rumored to be lurking around the corner.

Only time will tell if that come to fruition or not. These programs are not free from abuse, there have been in the past scams related to DPA and officials, lenders, and large institutions have really scaled back what is allowable as DPA. Also economics play into the availability of these from all the time. There are many DPA’s completely drained of funds.

Immobilienmakler Heidelberg

Makler Heidelberg

First-Time Home Buyer Guide Using A Mortgage: Your Diminutive List Of Must-Dos

Finally, you are set to bid goodbye to life in rental apartments and the inconveniences of paying an arm and a leg in rent or lease payments every year. You must be feeling excited, perhaps on the moon and can’t wait to stay in your own property. That is how it feels buying your home for the first time, and the feeling certainly befits the risk and the sacrifices you may have done.

But what you probably aren’t prepared for is the complex, daunting and energy-draining process involved in this first-time home buying process. Whether it is a flat or a big, luxury apartment, the whole experience is mostly the same. You will have to save an adequate deposit, trawl the web for juicy tantalising deals on houses for sale, find and apply for a mortgage, etc.

Lucky for you, this first-time property buyer guide eases the whole process and helps you evade the loopholes and rigours involved. Take a look.

In the UK, how much deposit do you need to buy a home?

Assuming you must have saved for a deposit, the cost required here could be 5% to 20% of the value of your preferred property. That is to say, if the house costs, £150,000, be sure to have saved a minimum of £7,500 so that you have access to a broader range of cheaper mortgages.

Find the mortgage

Before you do this, be sure to check whether you have a favourable credit score as this will save you thousands of pounds in the long run. After that, examine the market for the best mortgages, generally based on their suitability and affordability. You might have to consult a mortgage adviser or perhaps consult a mortgage checklist; both can help in your step-by-step mortgage application.

Choose the right property

When you finally know how much you can secure, start searching for the best homes that fall within your price range. A safety margin is recommended since mortgage payments are subject to fluctuating interest rates. At this stage, however, be extra keen and persistent when viewing properties available for purchase.

You will need a solicitor

Once your offer is accepted, the subsequent conveyancing process can best be done with the assistance of a solicitor. A solicitor is there to even out the whole process and ensures everything is completed in a seamless, legal manner. However, find someone you can easily access since this will need lots of meeting and signing several documents.

Exchange and completion

As the penultimate stage, your solicitor will be tasked with ensuring you sign and exchange contracts. Also, the seller will request for deposit payments (5-20%). Later in a week’s time, you will wind up on the final step. The lender wires the money to the solicitor who then transfers the funds to the vendor who hands in the key to the new home, via the property agent.

Immobilienmakler Heidelberg

Makler Heidelberg

Flat Fee MLS vs Real Estate Listing Agent

Odd question? Not really. Within the real estate industry it is shaping up to be the heavyweight battle of the century. If you think the NAR hates Discount Brokers (and they do) – Flat Fee MLS Brokers are downright blasphemous. When a property owner that has made a decision to sell their property „by owner“ and engages a licensed real estate agent that provides Flat Fee MLS Services they essentially take on (or more accurately eliminate) the role of „Listing Agent“ (AKA Selling Agent). More importantly they also expose their FSBO property to the valuable Multiple Listing Service (MLS) and the considerable marketing horsepower that is associated with it. Consider the fact that the FSBO property is now listed within the same database that the 2 million strong professional NAR sales team use to find properties for their buying clients.

Granted you are agreeing to pay a pre-negotiated „Buyer Agent“ commission fee (usually in the 2% – 3% range) but you ultimately save the „Listing Agent“ fee which is usually in the 3% range. Based on the average value of „existing home re-sales“ of $268,000 we are talking about $8,000 – that’s a significant chunk of your home equity going into someone else’s pocket. In addition, your FSBO property is listed on which enjoys over 7 million monthly „non-realtor“ visitors. If a Buyer comes directly to you via (which is likely because your contact information is in the „Listing Agent“ area) you pay no real estate commission – that fact alone makes a Flat Fee MLS worth it’s weight in gold. Just consider that a (as in one) classified ad in your local paper is likely going to cost in the $75 range – $399 for the exposure that a Flat Fee MLS listings provides is the preverbal „deal of the century“.

How does Flat Fee MLS work?

You agree to pay a licensed real estate agent an „upfront fee“ (usually $399 – $699) as opposed to a commission fee based on the successful sale of your property. A typical Flat Fee MLS lasts 6 months and can be extended another 6 months for a nominal fee ($50). In exchange a licensed real estate agent agrees to list your home on the valuable MLS. While this licensed real estate agent is the „Listing Agent“ of record and their name and number shows up in the real estate agents version of the MLS that generally is the end of the service. Most Flat Fee MLS Brokers have a phone system that forwards Realtor incoming calls directly to the property owner to schedule appointments or answer questions. The MLS is, without a doubt, the real estate agents most valuable sales/marketing tool; this is particularly true for the Listing Agent. As a potential buyer you can go and browse through so you really don’t have to engage a real estate agent to „look“ at properties. The challenge is to get your property listed within that database and website – which you cannot do without the assistance of a licensed real estate agent – but with a Flat Fee MLS – now you can.

How valuable is a „Listing Agent“?

I know I’m going to come across as a „Real Estate“ basher and as the President of a Free For Sale by Owner business I am an easy and logical target. That said, is a Listing Agent’s service really worth 2.5% or 3% of the total value of your home? In my opinion it’s a no-brainer – NOT A CHANCE! Beyond providing a professional lawn sign, listing your home on MLS and having the occasional Open House they really don’t do much. Sure you get the odd agent that spends a tremendous amount of money marketing themselves and their listings – but they are the exception, not the rule. According to NAR’s own statistics the average real estate agent spends less the $500/year on internet marketing while 77% of prospective buyers see the home they purchase on the internet first. Another 18% see your real estate lawn sign and call the number on the sign.

Will Buyer Agents still bring their „Buyers“

A Flat Fee MLS, for all intent and purpose, is the same as all the other listings on MLS. As long as you offer a reasonable commission to a Buyers Agent (2.5% – 3%) your FSBO property will receive the same status as conventional, full fee (5% – 6%) real estate listing. The fact is a Flat Fee MLS listing pays out the same as any other MLS listing. Buyers Agents don’t care who listed the property their buyer wants. The days of agents pushing their own properties in hope of „double ending“ (listing and selling the same property) ended with the advent and popularity of the internet. I don’t know what percentage of agents manage to „double end“ a property nowadays although I do know for a fact that it has become less common with „conflict of interest“ laws and regulations.

Bottom-line, all things considered – with all that a Flat Fee MLS listing offers I really have to question the value of engaging a real estate listing agent. While I don’t claim to be a mathematician the last time I checked a $25 real estate lawn sign, a $399 Flat Fee MLS listing and $150 worth of print advertisements don’t come anywhere near $8000! I’ve said it before and I’ll say it again (and I take a lot of heat from Realtors) most „Listing Agents“ are nothing more then professional price reducers. They excel at getting you, the homeowner, to lower your price so that your home sells and they collect their commission. Remember every $10,000 price reduction costs you $10,000 – it only costs $300 in lost commissions to the real estate „Listing Agent.“

Immobilienmakler Heidelberg

Makler Heidelberg

Flat Fee Listing 101 – Know The Facts Before You List Your Florida FSBO Flat Rate In The MLS!

Who are you going to believe about how the flat fee MLS industry works?

There are four „business models“ offering flat fee MLS listings in Florida:

1) National Website: They are not licensed in Florida but collect money and then refer you to a Florida discount real estate broker-who gets a portion of the fees collected. National websites are competent business enterprises that usually have a real estate broker’s license in one state but not in all states.

2) Florida part-time amateur flat fee website: There must be 70 or so of these „websites“ in Florida. They are licensed real estate brokers that do flat fee listings part-time or are testing the waters to see if they can make a few bucks at flat fee.

3) Florida broker that is masquerading as flat fee: They seem like flat fee but their business model is not consumer friendly and I see their business practices as questionable. They may or do take your buyer leads from and other sources for their own agents; or possibly charge a cancellation fee as high as $500; or hold your listing hostage until you pay up ($500) by only „conditionally“ withdrawing your listing from the MLS if you attempt to cancel and move to a full-service agent – your listing will be trapped in this „conditional“ status until you pay the ransom of $500.

4) Florida licensed flat fee MLS broker that is established, trusted, transparent and paperless, specializes in Internet marketing and offers real customer support.
(Note: There is more than one trusted MLS flat fee firm in Florida but there are also plenty of firms that do fall into the # 2 and #3 categories above as well.)

Flat fee MLS requires more than simply inputting a listing into a local MLS…

1) Flat fee MLS sellers in Florida are 100% driven by control. They want their MLS listing correct at all times.

2) Third party websites such as, local MLS systems and IDX feeds to local real estate brokerage firms must be monitored constantly because listings do fall out of these systems. Technical glitches happen frequently.

3) Sellers make adjustments to their listing such as pictures, price, commission and their property descriptions. There are needed forms such as mold, lead-based paint and property disclosures.

4) The Florida Flat fee MLS broker is charged with the responsibility of buyer lead capture, agent showing requests, Internet marketing, trouble shooting, customer service, negotiating, editing and peace making. Flat Fee MLS brokers must be prepared to dedicate their time and energy.

Flat Fee MLS brokers must be prepared to dedicate their time and energy…

1) Taking $200 bucks and throwing a listing into the MLS as an afterthought is not what flat fee should be about. There are more moving parts that make up a „real“ flat fee MLS company than one can imagine. For example: Last week, Orlando Regional MLS just took over Venice Board of Realtors. When they did this conversion, it knocked out 53 „showcased“ properties from Mid-Florida Regional (Orlando area). It occurred on a Thursday evening and took the resources of the vice-president of Mid-Florida Regional and the Director of Operations and many phone calls to straighten out the major glitch.

2) Amateur or part-time flat fee MLS „website“ operators might not have the resources or experience to deal with such matters.

3) The flat rate MLS broker must be prepared to back up the customer with support and market effectively on the Internet.

4) If the MLS discount broker requests that you print out forms, fill them out and fax back, this means they have put no thought or investment into on-line automation. This means listing changes, edit, status changes will all be fax this-fax that….back to caveman days.

What to look out for before you list flat fee

1) If the flat fee MLS „website“ does not display the „listing agreement“, that should be a warning.

2) Carefully read the listing agreement „beginning-to-end“ before you give any flat fee company money whether a National or a Florida based service.

3) Understand the process and policy about how buyer leads from and other sources get to you, the seller, if at all.

4) Realize that many calls do go to the flat fee broker. As many as 70 calls a day can come into a flat fee MLS broker. Miss one, that could be your sale.

5) Consider and verify what the hours are for the flat fee MLS service.

6) Flat fee websites that offer just one marketing option are really just a „website.“ There are many marketing approaches besides just a basic MLS listing. What about marketing directly to Realtors®. For example, if a seller wishes to offer a 4% buyer’s agent commission, does the flat fee service provide a way to promote this higher than average commission? Some flat fee services do offer a Realtor eblast program which sends about 12,000 or so emails to all Ft Lauderdale, Miami, Orlando and Jacksonville real estate agent every 15 days. This is an effective marketing approach and Realtors do respond.

7) Flat fee sellers should think about contract representation. Contract-to-close flat fee programs help get the deal done faster. Having a seasoned real estate professional handle the contract negotiations results in a smoother transaction for the seller, as well, possibly netting a higher sale. One of the trickiest parts of negotiations is the possible- subsequent re-negotiations after the inspection. Negotiating an inspection report does mean re-roofing the house because some inspector or Realtor® says the roof is at the end of its „useful“ life. There is an art to getting the buyer’s agent, the buyer and the seller on the same page. As well, there are some important nuances that do help get more Realtor® showings such as allowing the flat fee broker to schedule showings (more professional), using an Exclusive Right of Sale (not Exclusive Agency Listing Agreement) and use a professional looking metal sign.

How to flat fee list in Florida and stay out of trouble

1) Read the listing agreement.

2) Call the flat fee service and ask how they handle buyer leads.

3) Call and verify the hours of operation.

4) Ask if there any penalties or conditions if you cancel the listing.

5) Ask if the listing company will „unconditionally „withdraw your listing from the MLS if you choose to cancel and go with a full-service agent.

Immobilienmakler Heidelberg

Makler Heidelberg

Expired Listings Marketing Help Real Estate Investors Locate Profitable Properties

Expired listings marketing is a strategy that all real estate investors should implement. Expired listings occur when contracts between sellers and real estate agents expire. By reviewing expired real estate listing lists, investors can quickly find homeowners eager to sell their property. In order to fully capitalize on the list, investors must first develop a strategic marketing plan.

The first step of developing expired listings marketing is to understand the psychology of home sellers. Expired real estate listings occur when real estate agents are unable to attract qualified buyers during the contract term. Sellers are usually stressed out and anxious when their property has been listed for months on end without attracting a buyer.

Most people are aware that selling a house in today’s recessed market is challenging at best. However, when homeowners need to sell their real estate to prevent foreclosure or relocate to another state they need results, not excuses. Investors must be able to develop marketing strategies which will place a „Sold“ sign in front of the seller’s property.

One consideration for investors is realtors frequently check the multiple listing (MLS) database to locate expired listings. When agents locate a hot property they quickly send out an expired listing letter or contact the seller by phone in an effort to obtain a new realty contract. Investors often end up competing against multiple realtors. Therefore, it is crucial to develop marketing materials that stand above those presented by competitors.

Homeowners need assurance your company will provide results. Many investors make the mistake of focusing marketing materials on past successes and tend to toot their own horn. While it is important to highlight success stories, marketing materials should primarily focus on addressing sellers‘ needs. By addressing concerns and fears, real estate investors can connect with potential clients on a personal level.

Sellers need to know that your company understands their angst and offers solutions to solve their home selling problem. While it can be impressive that your organization has sold dozens of expired listing homes, distraught sellers want to know exactly how you plan to sell their home when their realtor was unable to accomplish the job.

Expired listings marketing materials should also address how you plan to compete in a buyer’s market. Presently, sellers are in competition with a multitude of reduced priced foreclosure, bank owned and short sale homes. Buyers can easily purchase real estate below market value and rarely offer the full asking price for houses even if they are in pristine condition.

Real estate listings often expire because sellers refuse to lower the asking price. Investors should address creative finance options in expired listings marketing brochures and outline how these strategies can help sellers obtain top price for their property. Creative financing options can include lease-to-own, seller carry back financing, 1031 exchanges, and subject to transactions.

When developing expired listings marketing campaigns it is important to create a variety of pieces that build upon the last. For example, investors would create an initial contact letter that introduces their company and summarizes available services. A few days later, an expired listing postcard would be sent which offers a complementary consultation. The next follow-up marketing piece might be a brochure that addresses common problems of selling in a buyer’s market. The campaign might wrap-up with a phone call utilizing an expired listings marketing script.

Investors who are not savvy at developing marketing campaigns should enlist the help of a marketing company that specializes in real estate. Another option is to invest in realty marketing kits that include premade scripts and templates.

Before entering into the expired listings arena, investors must develop plans to ensure they can deliver on promises outlined in marketing materials. Take time to become educated about the process and develop a network of real estate professionals who can help close the deal. Expired real estate listings can be a profitable investment niche for those who take time to learn available options and develop strong marketing materials and follow-up plans.

Immobilienmakler Heidelberg

Makler Heidelberg

Condos for Sale – How to Choose the Right One for You

Have you ever lived in a condominium unit? If like me you grew up in a house with a garden then chances are you have no idea what factors and features to consider when looking at condos for sale. Not being aware of key aspects that could affect your quality of life as well as the unit’s resale value could leave you with a condo you can’t live in or sell.

What to prepare before checking out condos for sale

When a person decides to try buying a condo unit the first thing they do is look through adds, this is one of the most common mistakes buyers make. Prior to looking at units, preparations have to be made which can make looking for a condo easier and in the end more advantageous for you.

Down through the ages people have always said information is the key and looking at condos for sale is no different. Prior to visiting different units hire an experienced realtor. He or she will be able to give you invaluable advice plus his or her services are free since the seller will pay the commission. Another person you need on your side is a lawyer. „Legalize“ is a language not everyone is familiar with and it’s always a good idea that we understand everything we sign, trust me on this my siblings are lawyers. Next, crunch the numbers and look through mortgage requirements. Being ready on the financial front will give you a realistic view on what you can and cannot afford.

What to avoid while looking at condos for sale

Unfortunately not everyone is able to realize that small details can make a big difference in ones‘ quality of life. The following are some things you may not have thought to take into consideration:

• Steer clear of units that overlook the entrance to the garage or where vehicle traffic is if you value peace and quiet.

• Once again for peace and quiet do not choose a unit across from or beside an elevator.

• Make sure your suite does not look over the area where garbage is picked up; this is self-explanatory but is a detail most people will miss.

• Make sure most of the condo’s occupants are owners not tenants.

• Avoid condo buildings that are not easily accessible by any number of public transport services. Trust me you’ll need the service one of these days even if you do have a car.

• Avoid condo buildings where the neighborhood is not as pleasant as you’d like. The building itself maybe top notch but if the location is not at par then think twice.

• Avoid making a decision before going to the condo several times and at different times of the day and night.

• Remember to chat with the neighbors. You’ll need inside information about the area and if you can stand living beside them.

• Do not commit before you have discussed all the monthly fees, maintenance costs, association dues, closing fees and all financial matters. You need to know you can afford it all without breaking a sweat.

• Do not buy a suite with a view you can’t live with, no matter what the building’s amenities are.

Happy hunting.

Immobilienmakler Heidelberg

Makler Heidelberg

Top Things an Expat Should Know Before Buying a Home in Thailand

A number of people from regions such as China, Singapore, Hong Kong, Japan, Europe, Canada, Australia, and New Zealand have purchased homes in Thailand over the last couple of decades. While several Chinese buyers show interest in the middle and lower sectors, the demand in the high-end market is fuelled by residents of the other countries in question. Given the noticeable expat community in Thailand that owns homes, just how easy is it to purchase a property in this country?

Can an Expat Buy a Home in Thailand?

If you are not a citizen of Thailand, you may legally purchase a condominium unit or apartment. This restriction is in place because of the 1979 Thai Condominium Act, according to which a foreigner may own no more than 49% of the total unit space in any given condominium. The other 51% should be owned by Thai citizens.

Another option is to lease landed property for up to 30 years. Some developers even offer free extensions of these leases for 30 more years. However, the maximum lease period limits to 30 years. If you plan to go the foreign freehold land title way, expect to pay a premium when you’re buying a unit in a New Foreign Freehold Condominium.

Buying Land, a Villa, or a House

A common way for foreigners to buy other types of properties is to set up Thai companies. If you plan to take this route, you may seek the services of suitable legal consulting companies. Alternatively, if you invest THB 40 million or more in a project approved by the Board of Investment, you may purchase up to 1,600 square meters of land. Some foreigners in the country have also purchased property by proxy, either through a Thai spouse or a trusted partner.

Can Expats Get Home Loans in Thailand?

Expats in Thailand started getting access to home loans provided by banks in the country by mid 2000’s. While the country of residency is not a criterion, you need to meet strict eligibility requirements. Interest rates are typically higher when compared to how much you would pay in most Western countries. Depending on individual circumstances, one may qualify for a loan of 40% to 80% of a property’s selling price. Typical loans terms for foreigners extend up to 10 years.

Associated Fees

Buying a home in Thailand comes with different expenses, although most are borne by sellers. As a buyer, you may need to pay legal fees of THB 20,000 to THB 30,000, and this is subject to negotiation. The seller is responsible for paying real estate agent fees, stamp duty, specific business tax, registration fees, and withholding tax.

Investigating the Title

Make sure you carry out a thorough examination of the title deed that is recorded at the Land Department. Before entering into any kind of a legal agreement, determine if the seller is in possession of the land’s clear and legal title. The title search also gives you information about any mortgage or lien linked to the property.

Making Payments

If you wish to pay the deposit or legal fees from your current country of residence, using the services of an overseas money transfer company might work better than turning to a bank. This is because most banks tend to offer less-than-favorable exchange rates while charging steep fees. These costs may make a noticeable difference especially if you plan to transfer a large sum. Some of the top companies that let you send money to Thailand include OFX, TransferWise, WorldFirst, WorldRemit, and CurrencyFair.


Buying a home in Thailand is not as complicated as one might imagine, although it does require carrying out some basic groundwork. Whether you buy one through a developer, a broker, an international road-show event, or a previous owner, take time to compare your options well.

If you would like to know more about Thailand Land Title and Propery Taxes, then check out our Buyers Guide to help you further.

Immobilienmakler Heidelberg

Makler Heidelberg