Selling your house may not be an overly complicated task, but it certainly isn't a walk in the park either. Gone are the days when you could simply post an ad online and wait for buyers to come flocking. Today, home sellers must go the extra mile to prepare their properties meticulously before putting them on the market. Why? Because it's the small details that can make all the difference – leaving a lasting impression on potential buyers, speeding up the selling process, and even securing a better price.

In this article, we'll delve into the often overlooked aspects of selling a house that many sellers tend to neglect or underestimate. Join us as PropertyScout reveals these hidden gems, offering you valuable insights on how to impress potential buyers and achieve a successful, lucrative sale. It's time to pay attention to the finer points and turn your home into an irresistible offer that buyers can't resist!

Keep Personal Belongings stored Away

When it comes to selling your home, leaving personal items like clothes, toothbrushes, and family photos in plain sight can be a turnoff for potential buyers. It creates the impression that the house is still occupied, dampening the selling vibe. Ideally, it's best to remove all personal belongings, leaving only essential furniture and minimal decorations for a better selling impression.

Clean the Windows

Many people often forget about the interior mirrors in their homes, whether it's full-length mirrors or clear glass on doors and windows. Did you know that mirrors can be a powerful tool to make your home look brighter and more spacious? However, they can also create a negative impact if they are cracked, marked, or hazy, making your home appear gloomy. Homeowners should ensure all mirrors are clean and, if any are damaged, it's best to replace them. This small step can greatly enhance your chances of selling your house with ease.

Cleaning the Neglected Corners of Your Home

In many houses, there are often dark and cramped corners located in various spots, such as under the stairs, in front of the bathroom, or along narrow hallways. When potential buyers come to view the house, these neglected corners can make the home feel claustrophobic and unwelcoming. Therefore, before selling the house, homeowners should find ways to minimize these dark corners. They can use bright paint, add additional lighting, or decorate with stylish stickers to create a more inviting and pleasant atmosphere.

Carefully check the Electrical and Plumbing Systems

In general, most prospective homebuyers don't just come to view a property with a casual glance. They often test the electrical and plumbing systems by randomly turning on lights and faucets to ensure they are in good working condition. Therefore, it's crucial to have everything properly repaired and functioning to eliminate any worries for both ourselves and potential buyers. Providing a hassle-free experience can greatly enhance customer satisfaction and increase the likelihood of a successful home sale.

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Clear out all old and unused items

Selling a house and including household items may not always be the best option. If some items are no longer useful or in poor condition, it's better to dispose of them instead of cluttering the house. A clutter-free environment with only functional and relatively new items creates a more appealing look. Outdated furniture and worn-out belongings can make the house appear less attractive.

Stay INFORMED!

Creating a lasting impression is vital, but there's more to it! These often-overlooked details not only leave a mark on potential buyers but also help them make their decision. And wait, we can't skip the pricing game! Unravel the mystery of proper pricing, a game-changer in the real estate world. Mastering pricing dynamics is the ultimate key to sealing the deal and triumphing in the competitive market. Don't miss out on this winning formula for a successful home sale!

If you are looking for a property for rent or sale, whether it be for residential or investment purposes, then you are at the right place! Click the links below to check out our expansive selection of properties available throughout Thailand to make your dream haven a reality!

Life is a journey filled with uncertainties, where unexpected events can disrupt even the best-laid plans. The dreams we envisioned sharing with our loved ones may be altered by unforeseen circumstances. Yet, amidst the challenges, some responsibilities persist, like "syndicate home loans" - a significant, long-term commitment. If co-borrowers set out on this journey together and tragedy strikes, how does it affect the situation? What steps should the surviving party take? In this article, PropertyScout delves into these questions, providing support to those navigating such difficult times.

How Does the Co-Borrower's Passing Affect Mortgage Repayments?

• In the initial stages, the co-borrower's passing does not immediately impact the existing mortgage for the residential property, which is still under the active loan agreement. The loan contract remains unaffected by the death of either one or both co-borrowers. The status of each co-borrower remains the same as before their passing.
• Changes to the details of the home loan occur when the relevant parties inform the bank about the co-borrower's demise. The bank will then request heirs or estate managers of the deceased co-borrower to sign documents indicating their intention to assume the debt within one year.
• Accepting the debt obligation ties the heirs of the deceased co-borrower to the role of debtors with the bank, taking the place of the co-borrower who passed away. However, there is a limitation that the heirs eligible to assume the debt must have reached legal age.

Does the Co-Borrower's Passing Affect Home Ownership Rights?

The passing of a co-borrower can indeed impact the ownership rights of the home. Initially, when co-borrowers apply for a loan together, each holds a fifty-percent share in the property's ownership. Therefore, when one co-borrower passes away, their fifty-percent ownership share passes on to their heirs. To effect this change, the heirs and estate managers must proceed with the necessary procedures at the local land office. They will need to submit a request for transferring the ownership title from the deceased co-borrower's name to their own. However, this process incurs a transfer fee equivalent to 2% of the property's assessed value.

Various solutions for a Syndicate Home Loan after your Co-Borrower's untimely death

The following are possible solutions for your syndicate home loan in the event of your co-borrower's untimely death

If your late co-borrower has MRTA Insurance

MRTA, or Mortgage Reducing Term Assurance, is a life insurance option that borrowers or co-borrowers can choose when obtaining a loan from a bank. This insurance provides coverage for the insured individual in the event of death or permanent disability. In case of such an unfortunate event, MRTA will pay off the outstanding home loan amount based on the coverage amount chosen by the insured. Therefore, if a co-borrower has taken out MRTA insurance, the insurance payout will be used to settle the remaining mortgage debt.

Example

If the home loan amount is 2 million Baht and there are 2 co-borrowers, each co-borrower is responsible for 1 million Baht of the debt.

Suppose one of the co-borrowers takes out MRTA insurance with coverage of 600,000 Baht. In the event of their passing, the insurance will pay out 600,000 Baht to settle a portion of the co-borrower's debt. This leaves a remaining outstanding debt of 400,000 Baht, which will be the responsibility of the deceased co-borrower's heirs to assume and repay.

Your late co-borrower's heirs

In the event that the heirs of the co-borrower show intent to assume the debt, the outstanding loan amount they would need to co-repay with the remaining co-borrower is equal to half of the latest remaining debt. To be eligible to take over the loan repayment, the heirs must have reached legal age and undergo an evaluation by the bank to determine their ability to meet the financial obligations as co-borrowers. This evaluation considers their income and the amount of debt they can comfortably manage.

Continuing the installment payment on your own (if possible)

In the case where an individual has the capability to continue repaying the loan both for themselves and on behalf of the co-borrower who passed away, the bank does not consider it a problem. However, there is an issue to address. Half of the ownership rights to the house still remain with the heirs of the deceased co-borrower.

Seek another co-borrower

The co-borrowers can find a new co-borrower to assist with continuing the home loan, but there is a condition that the new co-borrower must have a family relationship with the existing co-borrower. The request to change the co-borrower can be communicated to the bank, which will assess the new co-borrower's ability to repay the loan similar to a new loan application.

Typically, the bank accepts a debt burden of around 40-60% of the co-borrower's income. For example, at Kasikorn Bank, if the borrower's income is below 30,000 Baht, the debt burden can be up to 40%. If the income is above 30,000 Baht, the debt burden can be up to 50%. For incomes of 70,000 Baht and above, the maximum debt burden can be up to 60%, and so on.

If you can't continue paying on your own, nor can you find a co-borrower

In this case, the bank will provide a period of time for the co-borrowers to find a new co-borrower, and they may offer flexible repayment options during this period. For instance, Kasikornbank allows a 3-month grace period for paying only the interest. However, if the co-borrowers are unable to find a new co-borrower within this timeframe, they may have to sell the property to an external party. To do this, they must coordinate with the estate manager of the deceased co-borrower to obtain consent for the joint sale since a single co-borrower cannot sell the property independently.

Ultimately, if they cannot sell the property or repay the loan, the bank will consider both the original co-borrowers and the heirs of the deceased co-borrower in breach of the loan agreement.

Closing Comments

In the event of a joint home loan where one of the co-borrowers tragically passes away before completing the repayments, we at PropertyScout offer our heartfelt condolences to those going through this difficult time. Remember, the key is to act quickly and inform the bank of the situation to discuss possible modifications to the loan agreement. The heirs or estate managers, deemed capable of continuing the repayments by the bank, must take charge and continue the loan journey. We stand with you and provide support throughout this process. Stay strong!

For residential or investment purposes, check out PropertyScout's expansive selection of over 270,000 properties throughout Thailand in the links below!

For every household, an electricity meter is an essential tool for measuring daily power consumption. In this edition, PropertyScout is excited to share valuable insights about electricity meters, including the various sizes available and how to choose the right one based on your home's electrical appliances for efficient energy usage. Plus, we'll guide you on accurately reading your electricity meter. Let's delve into the details!

What are Electricity Meters?

An electricity meter is an energy measuring device used to track the usage of electrical power over a period of time. Typically, it is installed outside homes or buildings and measures electricity consumption in kilowatts per hour. Now, let's find out how many types of electricity meters are available.

Types of Electricity Meters

The following are the different types of electricity meters:

• Electricity meter for residential properties
• Electricity meter for small-scale businesses
• Electricity meter for medium-sized businesses
• Electricity meter for large-scale businesses
• Electricity meter for specialized businesses
• Electricity meter for non-profit organizations
• Electricity meter for agricultural water pumping
• Electricity meter for temporary power users

Different sizes of Electricity meters for residential properties

Electricity meters come in various types and sizes, but in this article, we will focus on the electricity meter for residential properties.

To determine the size of the electricity meter, you can observe the numbers on the display. For instance, "5(15) A" means it is a 5-ampere meter that can handle a maximum load of up to 15 amperes. The sizes of electricity meters are as follows:

Electrical Meter Sizes and Electricity Usage

• 5(15) Single Phase Meter: Can handle electricity up to 15 amperes.
• 15(45) Single Phase Meter: Can handle electricity between 11 to 30 amperes.
• 30(100) Single Phase Meter: Can handle electricity between 31 to 75 amperes.
• 50(150) Single Phase Meter: Can handle electricity between 76 to 100 amperes.
• 15(45) Three Phase Meter: Can handle electricity up to 30 amperes.
• 30(100) Three Phase Meter: Can handle electricity between 31 to 75 amperes.
• 50(150) Three Phase Meter: Can handle electricity between 76 to 100 amperes.
• 200 Three Phase Meter: Can handle electricity between 101 to 200 amperes.
• 400 Three Phase Meter: Can handle electricity between 201 to 400 amperes.

Choosing the right Electricity Meter for your House

To determine the appropriate size of the electrical meter for general household use, factors such as the number of household members and the current number of electrical appliances, as well as potential future additions, need to be considered.

You can perform a preliminary calculation yourself to determine the suitable electrical meter size for your home. Simply take the electrical power of each appliance (in watts), which can be found on the labels of the electrical devices, divide it by the voltage (in volts), and multiply it by the quantity of each type of electrical appliance. Then, sum up the total electrical load and multiply it by 1.25 (to account for potential increased electricity usage in the future). For example,

Example

• Floor fan - 70 watts, 2x, electrical current (amps): (70 ÷ 220) x 2 = 0.64 Amps.
• Fluorescent light - 36 watts, 6x, electrical current (amps): (36 ÷ 220) x 6 = 0.98 Amps.
• Air conditioner - 1,200 watts, 1x, electrical current (amps): 1,200 ÷ 220 = 5.45 Amps.
• Rice cooker - 450 watts, 1x, electrical current (amps): 450 ÷ 220 = 2.04 Amps.
• Iron - 450 watts, 1x, electrical current (amps): 450 ÷ 220 = 2.04 Amps.
• Television - 40 watts, 1x, electrical current (amps): 40 ÷ 220 = 0.18 Amps.
• Refrigerator - 70 watts, 1x, electrical current (amps): 70 ÷ 220 = 0.32 Amps.

The total electrical current from all the electrical appliances combined is 11.65 amps. When multiplied by 1.25, it becomes approximately 14.56 amps. Considering it is still within the 15-amp limit, a 5(15) amp meter is suitable for the current usage. Normally, electrical appliances are not used simultaneously. However, to account for potential future additions of electrical devices, it is advisable to install a slightly larger meter for safety reasons. Therefore, a 5(45) amp meter would be appropriate.

How to read Electricity Meters

For reading the main meter display, there will typically be a frame with five digits indicating the consumed units. When reading the meter, it is important to determine the type of meter installed.

If the last digit has a decimal point or is marked differently from the others, it should not be considered. In this case, only the first four digits should be read. However, if the last digit does not have a decimal point or any distinguishing feature, all five digits should be read.

Would reading the meter incorrectly make a difference?

In the case of having a decimal point, let's assume the meter reading from the previous month was 1234.5, meaning the actual reading is only 4 digits, which is 1234 units.

However, in the following month, a different person reads the meter and, unknowingly, records the reading as 11985 with all 5 digits. When calculating the difference, 11985 - 1234 = 10751 units, which is a significantly higher value.

What does NO. mean?

"NO." stands for the "Number" or "Serial Number" on the electricity meter. It is the specific identifier used to recognize our meter, including the voltage and phase of the electricity used.

Who is Eligible to Apply for Electricity Usage?

For individuals who purchase land and build their own homes and wish to apply for electricity usage, the following qualifications are required:

• Landowner or owner of the premises using electricity.
• The applicant's name is registered at the address where electricity will be used.
• Tenant or lease-to-own occupant of the premises using electricity.
• Business operators at the premises using electricity.

Where and How to Apply for Electricity Connection?

The applicant can contact and submit the request for electricity usage at any electricity office.

After receiving the complete application with all required documents, the electricity officials will inspect the electrical wiring in the building. If the wiring is in place, the applicant will be notified to pay various fees. However, if the wiring is unsafe or incorrect, the applicant will be informed to rectify the issues and re-inspected. The fees for electricity connection are determined based on the type and size of the requested meter.

The applicant should pay the fees and keep the receipt as proof of payment.

For More Information

*In case of residential occupancy in a different province, please contact the regional electricity authority.

Closing Comments

In selecting an electricity meter, it's crucial for each household to consider the number of members and the total electrical appliances they use, both currently and for future needs. This thoughtful choice guarantees not only safe and efficient electricity usage but also optimal utility for the entire household. So, let's strive to read our electricity meters accurately to reap the maximum benefits for ourselves!

If you are looking for a decently-priced, authentic property, then you are at the right place! Click the links below and check out PropertyScout's expansive selection of properties available both for sale and rent today!

For many individuals embarking on their careers and building up savings, the decision of whether to buy a home or a car first becomes a universal dilemma. Both are crucial investments that enhance convenience and comfort in life. However, choosing between the two can be a daunting task. In this article, PropertyScout will delve into the principles and factors to consider when making this pivotal choice. Let's explore together!

Why not Both?

Simultaneously buying both a home and a car may not be feasible, especially for those just starting their careers. The cost of acquiring both assets can be substantial, and if one's income is not sufficient, it's crucial to avoid exceeding a 40% debt-to-income ratio.

Let's consider the benefits of purchasing a house or condominium. It eliminates the need to pay rent to someone else and serves as an appreciating asset over time. However, the initial cost is significant, and the long-term commitment of a 20-30 year mortgage should not be taken lightly. On the other hand, buying a car can greatly enhance commuting convenience. Yet, cars tend to depreciate rapidly, making them a less attractive long-term investment. Therefore, if income is limited, it's advisable to prioritize purchasing one item at a time.

Consider your Preparedness before buying a home or car

For salaried individuals or those who have recently started working with limited income, the prospect of buying both assets simultaneously requires careful consideration. It's essential to assess which purchase takes priority based on individual needs and circumstances.

As there are no strict guidelines to determine whether one should buy a house or a car first at a specific age, the decision varies depending on each person's readiness. Let's explore further to see whether buying a home or a car is more suitable for each individual.

Why should you buy a house first?

If you plan to start a family

When young professionals enter the workforce or have been working for a while, many begin envisioning their future and desire to establish their own families. This often involves moving out of their parents' homes and aspiring to have a place of their own. Some may contemplate whether buying a home first is a practical choice, allowing them to make payments while they work on building their family. When the time comes, they could be ready to handle mortgage payments, ensuring that the burden of debt isn't overwhelming when the family arrives.

If you are a City-Dweller

For individuals residing in major cities like Bangkok, where public transportation is well-established and efficient, buying a home might take precedence. With extensive coverage of buses and trains within and beyond the city, there are no concerns about transportation. Whether commuting within the city or traveling to other provinces, public transit offers a convenient and accessible option. So, considering these advantages, purchasing a home first could be a favorable decision for city-dwellers.

If you have verified your financial preparedness

However, for those who prioritize owning a home, it is essential to ensure having sufficient savings to proceed with applying for a mortgage. The expenses involved can be considerable, encompassing various costs such as reservation fees, contract fees, down payments, and numerous other fees from the initial booking to the move-in day. Even after moving in, there are additional expenses for interior decoration and maintenance that add up significantly over time.

Apart from the lump sum required for contract-related expenses, there are monthly costs associated with mortgage repayments. These payments must meet the minimum requirements, but it is advisable to have extra funds to expedite the repayment process and reduce the duration of the debt. Owning a home involves long-term financial commitment and responsibility, and careful financial planning is crucial to ensure a smooth and manageable homeownership journey.

Why should you buy a car first?

If you aren't planning on moving

Some individuals may not currently consider family planning or have no intention of starting a family, and they may prefer to continue living with their parents. In such cases, buying a home might not be necessary. However, if the desire to start a family or provide a new home for their parents arises in the future, purchasing a home wouldn't be a problem, especially if they have a history of car ownership. Having a car can make obtaining a mortgage easier.

Moreover, for those residing far from the city or their workplace, requiring extensive and multiple commutes on public transportation, owning a car might become more necessary. It would save time and make the journey more convenient compared to relying solely on public transportation.

Parking Space

Many people overlook the importance of parking space and assume that once they have a car, they can figure out where to park later. However, in reality, it's essential to have designated parking before purchasing a car. The lack of proper parking arrangements can become a significant issue for homeowners, as it tends to create disorder and inconveniences. Unfortunately, this problem has become widespread due to a common mindset where individuals follow the same pattern without considering its implications. As a result, many experience frustration due to the lack of proper parking space, parking in others' designated areas, or even violating parking restrictions. Addressing the parking situation is crucial, especially for those planning to buy a car before a house.

Cheaper than buying a house

The lump sum required for a car down payment is generally smaller compared to buying a house, and it can be saved up in a relatively short time. However, owning a car comes with maintenance costs, fuel expenses, and other similar expenses similar to owning a house. These additional costs need to be budgeted for as well.

Car financing typically involves a shorter repayment period compared to a house, with a maximum of around 7 years. This is faster than paying off a house, which could take up to 10 years or more if there is no lump sum to reduce the loan or when only making minimum payments. To avoid long-term debt, opting for a shorter car financing term allows for a quicker route to saving up for a home down payment.

Preparing the Down Payment

Whether buying a house or a car and seeking a loan from the bank, it is necessary to prepare a significant down payment. Generally, when applying for a home loan, one needs to have approximately 20% of the house's price as a down payment, while for a car loan, around 25% of the car's price is required. Therefore, before making a decision about taking on substantial debt, one must assess their readiness in terms of the down payment funds.

Example

For a house priced at 3,000,000 Baht, it is advisable to have a down payment of approximately 600,000 Baht. Let's assume the plan is to buy the house in the next 2 years, and there won't be any significant windfall gains or lottery winnings. In that case, one would need to save around 25,000 Baht per month.

However, if the monthly savings target is too high and beyond one's capability to save, the goal of applying for a loan might need to be pushed further. For instance, the plan could be adjusted to apply for the home loan in 3 years instead of 2 years, allowing more time for the down payment to accumulate. Alternatively, one could consider looking for a cheaper home option, such as purchasing a smaller house with a reduced price, say, 2.2 million Baht, to ensure that the monthly savings target remains within a manageable range without feeling overly burdened.

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Calculating Affordability for Repayment

After making the decision to buy a house or a car and preparing the down payment, another crucial aspect to consider is the ability to make repayments. This will help determine how much one can afford to spend on the purchase.

Generally, when applying for a loan from a bank or financial institution, the monthly debt burden should not exceed 40-60% of the income. The debt-to-income ratio allowed depends on the monthly income; the higher the income, the higher the allowable debt-to-income ratio. However, it is advisable to keep the monthly debt burden at no more than 30% of the income for the best financial outcome. If the debt-to-income ratio is too high, there is a greater risk of facing financial issues in the future.

Example

Let's say you decide to buy a house first. If your monthly income of 30,000 Baht and a bank's requirement of a debt-to-income ratio not exceeding 40%, the total monthly debt burden should be 40% x 30,000 = 12,000 Baht.

Choosing a repayment period of approximately 20 years, one can request a loan amount of around 1.3 million Baht from the bank. However, if the decision is to buy a car first, with a car price of approximately 600,000 Baht and a 5-year repayment plan, the monthly installments will be around 11,000-12,000 Baht.

Closing Comments

After carefully considering both options and finding that neither meets the necessary criteria or appears suitable, it becomes crucial to reconsider and thoroughly evaluate the decision. The first step is to assess the actual need for these purchases at this particular time. While purchasing a house involves higher and more extensive expenses, from the initial reservation to ownership and occupancy, it also offers the potential for long-term returns, especially when considering factors like location and monitoring the real estate market.

On the other hand, cars generally depreciate over time, yet they offer the undeniable convenience of transportation. Before finalizing the decision to buy either property or a car, it is essential to prioritize the necessity and carefully evaluate personal readiness. The commitment to such significant purchases means committing to debt repayment over several years, making it crucial to ensure that the down payment is sufficient, and the monthly installments are manageable. By adopting this approach, it becomes possible to prevent potential financial difficulties in the future.

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Thinking about real estate investment and considering expanding your portfolio or purchasing two houses at once? The prospect of financing two properties simultaneously can raise some doubts, particularly if you still have an existing mortgage. In this blog post, PropertyScout offers valuable insights and guidance to shed light on the feasibility of dual home financing and securing necessary loans.

Is it possible to finance TWO houses?

Is it possible to have two mortgages at the same time? While it is feasible, it depends on the specific conditions set by the bank. Typically, most banks allow a single borrower to finance around three properties, including houses, townhomes, or condos. Here are the details to consider.

Example

How to finance two homes simultaneously

If you plan to finance two houses simultaneously, the key steps for applying for a mortgage with the bank are not significantly different. Borrowers must be well-prepared with the necessary documents, including identification, financial capability proofs, employment verification, and various income-related evidence, such as payslips and work certificates. Additionally, documentation regarding the details of the property to be financed must be provided.

In addition to financial preparation, it is essential to be financially ready since mortgage approval considers income and deducts existing debts to assess the monthly repayment capacity. Once all these aspects are accurate and complete, obtaining approval for a second home mortgage becomes a definite possibility.

Tips for Financing two houses simultaneously

Examine if you have any debt carried over from your first house

Description: While it may be possible to apply for multiple home loans, getting approval to finance two houses simultaneously is no easy task. First and foremost, you should examine the remaining debt of your first home, how much is left to repay to the bank, and the remaining repayment period. This will help you understand the expenses and calculate the total repayment duration.

If you plan to handle two mortgages and the outstanding debt is not too high, it is advisable to settle or pay off the old debt before applying for a second home loan. This prevents taking on excessive debt burden and simplifies the process of meeting the criteria set by the bank for a second home loan application. Moreover, it increases your chances of obtaining a higher loan amount for the second property.

Consider your Financial Readiness and Plan Correctly

Checking your financial readiness and thorough planning are essential, especially for those who have prior experience with buying their first home. Being well-aware of the significance of financial planning becomes even more crucial when undertaking the challenge of financing two houses. The bank's scrutiny intensifies, making it vital to assess your financial stability and plan meticulously to avoid falling into debt traps in the future.

Once you've made a preliminary assessment of your readiness, remember to include other existing expenses you are currently managing, such as car payments, credit card bills, and other miscellaneous costs. If your total expenses amount to over 40% of your income, even with a high income, it might be necessary to put the plan for financing two houses on hold for now.

Refinancing for Lower Payments

Refinancing allows homeowners to request a reduction in home loan interest rates from one bank to another, making it possible to secure a lower interest rate. This option becomes available once you have completed at least 3 years of mortgage payments or based on the conditions set by the bank. Refinancing is a valuable method to decrease the financial burden of paying off your initial home loan before considering a second home loan application.

Example

If you borrow 3 million for a house at an interest rate of 5% per year, your monthly installment would be approximately 17,200 Baht. However, by refinancing at a reduced interest rate of 4% per year, your monthly payment would decrease to 15,200 Baht. Despite the 1% decrease in interest rate, you can observe a significant reduction in debt burden by 2,000 Baht per month.

Seek a Co-Borrower

After securing a mortgage for your first home, you might find that the burden of purchasing a second property becomes overwhelming when considering your reduced repayment capacity after deducting the existing debt of the first home. Fearing the weight of taking on excessive debt or potential bank disapproval, seeking a joint borrower can be a viable solution.

The bank will assess the combined monthly income and existing debts, including credit history, to determine the repayment capacity of both borrowers. It's crucial to carefully study the terms and conditions of various banks since they may differ. Once approved, both primary and joint borrowers become co-debtors, sharing the responsibility for the loan.

What to do next

The ultimate key goal for financing two houses simultaneously is to repay them as quickly as possible, which can be achieved through the following methods:

Pay Extra in every Installment

The most crucial target for financing two houses simultaneously is to pay off the mortgages as quickly as possible. Typically, each installment payment includes both principal and interest, with interest taking up a significant portion. To address this, consider paying an additional 10-20% or more on top of each installment. The surplus amount will be deducted from the principal, effectively speeding up the repayment process for both homes.

Pay Extra Annually

For those who find it challenging to pay more each installment, an alternative is to opt for additional annual payments. Instead of the usual 12 installments per year, consider making 13 payments annually. Although the increment may not be a substantial amount, it helps in reducing the principal amount over time. This approach enables borrowers to lessen the burden without putting excessive strain on their finances.

Seize the Chance to Make Extra Payments

Especially during the initial 3 years of mortgage repayment, banks often offer relatively low-interest rates as part of their terms or promotions. Home loans typically follow an amortization schedule, where both the principal and interest decrease over time. Utilizing the opportunity to make additional payments during this period can significantly reduce both the principal and interest, helping borrowers pay off their mortgages more efficiently.

Debt Restructuring

Refinancing with a new bank that offers lower home loan interest rates can help improve financial flexibility for individuals financing two houses or refinancing with their existing bank. This option is suitable for borrowers with a good repayment history, as banks are more likely to consider reducing the home loan interest rates, making the process of adjusting the repayment terms more accessible.

Closing Comments

Venturing into the realm of financing two houses simultaneously is no small feat, as it entails substantial long-term commitments and financial complexities. PropertyScout recommends that those exploring this option should demonstrate strong financial discipline, steer clear of unnecessary debts, and embrace prudent planning for unforeseen circumstances. It's crucial to account for potential scenarios like salary reductions, job insecurity, or termination that might affect their capacity to manage repayments for both properties effectively.

Looking for a peaceful, decently-priced house for residential or investment purposes? Click the links below to check out our expansive selection of over 270,000 properties throughout Thailand and make your dream haven a reality!

Are you grappling with the timeless question of which condo floor is the ultimate pick for your new abode? Selecting the perfect floor can be just as challenging as finding the ideal location, with an array of unit options offering various qualities and orientations in each building. Amidst all these choices, your budget often takes center stage, influencing your decision significantly. Luxury condos often come with a hefty price tag, driven by their exquisite design and features. Thus, the decision between a high-rise or low-rise floor entails careful consideration of factors such as elevation, unit positioning, room layouts, and internal functionalities.

In this all-encompassing blog post, PropertyScout is here to explore the advantages and disadvantages of living on higher or lower floors in a condo. We'll guide you through the process of making an informed decision, ensuring that your condo living experience is both delightful and fulfilling, while also being a sound investment for your future. Let's embark on this journey together to find the perfect condo floor that suits your needs and aspirations.

Higher Floors

The following are the various pros and cons with higher condo floors or at least mid-level condo floors.

Benefits

Unobstructed view of the surroundings

Living on the top floor of a condo offers a golden opportunity to indulge in breathtaking cityscapes or mesmerizing river views, day and night.

Better returns in Selling or Renting Out

High-rise condos with stunning views of rivers, gardens, or cityscapes become prime selling points for owners seeking to rent out their units. These picturesque vistas not only attract tenants easily but also promise excellent returns. Similarly, when it comes to future resale, top floors have a clear target audience, ensuring a faster and more lucrative market.

Close Proximity to Facilities

Opting for a top-floor condo in a development designed with elevated communal spaces, such as rooftop pools, fitness centers, and lush gardens, offers unmatched convenience, allowing you to exercise, swim, and unwind effortlessly.

Peacefulness

Choosing a ground-floor condo may expose you to noise pollution, like traffic sounds from nearby roads, especially if it's situated near bustling areas with shops, restaurants, bars, or even sizzling hotpot joints. The constant buzz can be a daily annoyance. However, opting for a higher-floor unit offers a serene haven, mostly shielded from such disturbances.

Better Ventilation

Top-floor condos are a breath of fresh air, quite literally! With fewer obstructions, the breeze flows freely, providing excellent ventilation when you open windows or balcony doors. Enjoy a refreshing and cooler indoor environment compared to other floors, thanks to the unhindered circulation.

Pest-Free

Living in a high-rise condo alleviates mosquito and insect concerns, as their presence is significantly reduced compared to lower floors. This allows you to open balcony doors or windows with peace of mind, enjoying fresh air and breathtaking views without worrying about pesky intruders.

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Drawbacks

Heat

Typically, this issue arises mostly with condos on the highest floors before reaching the rooftop. As the units receive sunlight through the walls, they also get indirect sunlight from the upper ceilings during noon and afternoon hours.

Water Leakage

There is a possibility of encountering water leakage from the rooftop, especially during rainy periods, or in units located beneath common areas like swimming pools.

Concerns regarding Safety and Evacuation in case of a fire or earthquake

For potential buyers eyeing top-floor condos, safety during fire incidents or earthquakes is a valid concern. However, there is a level of assurance due to building regulations that enforce fire escape stairways. Before purchasing a high-rise unit, it's essential to inspect the building's layout and confirm the presence and proximity of fire escape routes to the desired rooms.

Dodgy Mobile Signal

Phone signals often come from high towers with signals radiating downward in a cone shape to the ground. However, this setup may result in weaker reception for high-rise units or those on the opposite side of the tower.

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High Price Point

Top-floor condos are often priced higher than units on the floors below, as mentioned in the advantages section, due to their breathtaking views and increased privacy. Moreover, in some projects, developers design common areas on the top floor, further enhancing the appeal of these high-rise dwellings.

Lower Floors

Many people might assume that choosing a top-floor condo is superior and that lower floors come with significant drawbacks. However, in reality, living on a lower floor also has its fair share of advantages. Let's take a closer look at the pros and cons before making a well-informed decision, which are as follows:

Benefits

1. Convenience in entering and exiting the building.
2. You don't have to stand around waiting for the elevator and you can just enter your unit right away.
3. Convenience in carrying large items, cleaning out garbage, or hanging clothes.
4. Creates a sense of homey atmosphere akin to living in a townhouse or house.
5. Embrace the touch of nature with surrounding gardens.
6. Easy exit in case of an emergency.
7. 20-30% the cost of the sales price.

Convenient entrance and exit

Even though you may lack the stunning views of higher floors, living on a lower floor offers the convenience of easy access to and from the building. You won't have to tire yourself climbing stairs, nor waste time waiting for elevators. Additionally, you'll be closer to parking areas, making it convenient for remodeling or moving furniture within the unit.

Cheaper than units located on higher floors

Ideal for budget-conscious buyers, as lower-floor condos typically come at a more affordable price, approximately 20-30% lower than their higher-floor counterparts in every project.

Reduced risk in contamination or infections

Living on a lower floor reduces the risk of exposure to contagious diseases, as there is less reliance on elevators shared with fewer people. This minimizes the chances of coming into contact with a large number of individuals.

A sense of homey atmosphere like a house or townhouse

Living on a lower floor provides a homely ambiance, offering a warm and inviting atmosphere. Enjoy the ground-level view akin to a house, creating a sense of connection with nature through surrounding gardens.

Safety

Living on a lower floor at a condo allows you to escape quicker and easier in case of an emergency, such as a fire or an earthquake.

Drawbacks

Less Privacy

Because there will be residents from the entire project passing through, in many projects, the surrounding areas of lower floors are designed as communal spaces accessible to everyone in the development. If the division of functions within the building is not well-planned, residents from the entire project may traverse through these areas.

Discomfort from pests

Living on lower condo floors makes you more prone to pests such as mosquitos and other insects, due to living near the road and the garden.

Some safety concerns

Living on lower condo floors also means you are more prone to thieves or burglars breaking in through your balcony and windows because it is not totally out of the burglar or thief's area of reach.

Lack of stunning views

It's common for lower condo floors to have obstructed views due to surrounding buildings, which can also result in reduced sunlight exposure. This may lead to challenges in drying clothes. If you choose to live on a lower floor, consider installing a clothes dryer in your unit for convenience.

Why Views Matter when Choosing a Condo Floor?

Views play a crucial role, and it aligns with the orientation of the room. Suppose you select a unit with your desired orientation, and, let's say, the east side of the project has obstructed views due to neighboring buildings hugging closely. However, the west side has an unobstructed city view, providing more sunlight exposure. Despite the west side being warmer, it remains a better choice due to the stunning view and ample sunlight. It's still preferable to a room facing the windows of adjacent buildings.

As for heat concerns, you can address them by installing sunshades on the balcony or opting for specially designed sun-blocking curtains or window films. Now let's explore what views you may have if you choose a unit without obstructions.

Garden or Common Area Views

When selecting a condo floor, consider opting for a view of the garden or common area instead of relying solely on external views. This view is typically available from mid-level floors, such as around the 5th or 6th floor, in a 20-story building. Choosing a condo floor with this view may come at a relatively higher price in low-rise condo projects. However, in high-rise condos, it may not be significantly more expensive, as the crucial advantage of a common area view remains consistent throughout the development.

Striking Cityscape and Skyscraper Views

This view captures the essence of the cityscape, featuring a panoramic outlook of the city and its majestic skyscrapers both during the day and illuminated by city lights at night. The beauty of this view depends on the condo's location and the side of the city it faces. For a condo situated in the heart of the city, the higher the floor, the wider the view, and the more spacious and unobstructed the panorama becomes. Choosing a higher floor within a high-rise condo allows for a sense of openness, as neighboring buildings at the same height are fewer, providing a luxurious, airy ambiance. However, it is important to note that the higher the floor, the higher the price tag, making it an undeniable factor to consider.

Suburb Views

The charm of this view is often seen from condos located on the outskirts of the city or near expanding public transportation lines. It offers a glimpse of the city from the outside, where high-rise buildings are less prominent, and you can still observe low-rise residential houses or even some green spaces. While it may lack the grandeur of cityscapes, the advantage lies in the tranquility and unobstructed openness of the surroundings. During nighttime, the view may be slightly darker, but with higher floors, the difference becomes less noticeable, as the sense of spaciousness prevails. Opting for a higher floor in such condos ensures an expansive, soothing view that brings a sense of comfort.

Natural Views

This view captivates with its natural beauty, offering enchanting scenes like lush public gardens or picturesque riversides. It stands as a unique selling point, appealing to those seeking tranquility and harmony with nature. When selecting a condo floor, it becomes essential to carefully consider the view it presents. For instance, a river view may require an optimal floor height that captures the graceful curves of the water without being too high or too low. On the other hand, if the condo overlooks a public garden, opting for a moderately high floor, say around the 10th level, allows for a delightful perspective that enhances the beauty of the green surroundings.

Blended Views

The allure of mixed views can be truly captivating when choosing the perfect condo floor. Imagine a unit that offers both the serene sight of a glistening swimming pool and the expansive cityscape in one glance. This combination creates a unique and visually appealing experience that is highly sought after. While such a view is undeniably stunning, it comes with the understanding that its exclusivity comes with a higher price tag. However, for those seeking a remarkable blend of natural and urban beauty, this choice is well worth it.

So, which would you prefer?

As we've explored the various aspects of choosing a condo floor, we've come to realize that it's just one piece of the puzzle in making a decision. The real key lies in our individual preferences – what truly resonates with our lifestyle and desires. This article serves as a valuable reference for everyone embarking on their condo-buying journey. Remember, it's all about finding that perfect balance between the pros and cons, aligning with what truly speaks to us. What suits one person may not be the ideal fit for another. So, keep your eyes peeled for more captivating content coming your way soon! Happy condo hunting!

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Welcome to a captivating tale of property intrigue! In a quiet corner of our bustling town lies a house that has become the center of an enigmatic mystery – two names, but only one home. As the sun casts its rays upon the quaint abode, we find ourselves entangled in a web of uncertainty, wondering who truly holds the deed to this charming residence. Whispers of conflicting accounts have sparked curiosity among the locals, leaving us with a burning question: who is the rightful owner of the house?

Join us on a journey of discovery as we peel back the layers of this puzzling story and delve into the heart of The Curious Case of Two Names, One House. Prepare to unlock the secrets that lie within the elusive property and uncover the truth behind its intriguing ownership predicament.

Scenario 1: Building a House on Inherited or Another Person's Land

The most common problem arises when someone builds a house on inherited or another person's land, such as a grandparent's or relative's property. If you find yourself in this situation or plan to construct a house on someone else's land, it's vital to understand that the house becomes a part of the land's ownership. The rightful owner of the land holds the title to both the land and the constructed house, despite the house owner's registration in official records. Therefore, the best course of action is to build your house on your own land to avoid potential disputes or the risk of being asked to vacate the premises if the landowner decides to sell the property. Ultimately, in such scenarios, you may have to relocate to a new location.

When the land owner wants to sell the land but the house owner refuses to leave

Another common problem occurs when the landowner wants to sell the land, but the house owner refuses to vacate the premises. In this case, the landowner has the right to sell the land and can legally take legal action to evict the house owner. This may involve paying relocation costs to the house owner or, ideally, transferring the land's title to the house owner's name after obtaining the land deed from the authorities.

Scenario 2: Allowing Others to Reside on Your Land Without a Formal Lease Agreement

Another common problem faced by landowners is when they allow others to reside on their land without a formal lease agreement, and these occupants are registered as house owners in official records. The landowner may have various intentions, such as having the occupants look after the land or for other reasons. However, if a considerable period of more than 10 years passes without the landowner attending to the land where the occupants live, the house owner may use legal arguments to claim adverse possession, aiming to gain ownership rights over the land from the actual landowner.

Mitigating Potential Disputes and Securing Property Rights

If a land has a title deed, and over a period of more than 10 years, the landowner has not tended to the property where occupants reside, the house owner may use legal arguments to claim adverse possession and gain ownership rights over the land. Moreover, if the landowner holds a land ownership document such as a Nor Sor 3 (นส.3) or Nor Sor 3 Gor (นส.3 ก.) and the house owner claims to have occupied the land uncontested for more than one year, without the landowner challenging or filing any claims against that right, the landowner may lose possession rights to the land. In the landowner's perspective, if there's a necessity for someone else or a relative to reside on their land, it's crucial to establish a clear and formal lease agreement, designating the occupant's status as a tenant or any other designated role, to prevent adverse possession claims.

Closing Comments

In the intriguing exploration of the curious dilemma of two names, one house, we have uncovered the complexities and potential disputes that can arise when conflicting ownership arises between house owners and landowners. From building houses on inherited land to allowing occupants to reside without formal agreements, securing property rights becomes a paramount concern. To avoid falling into these intricate situations, open communication, clear agreements, and proactive legal measures are essential. Whether through formal lease contracts or timely property inspections, mitigating potential disputes and safeguarding property rights ensures a harmonious real estate environment for all parties involved.

As we navigate the dynamic world of property ownership, let us remember that knowledge, empathy, and a willingness to find common ground can lead to the ideal resolution, securing rightful ownership and transforming the curious dilemma into a tale of successful property ownership and harmonious coexistence.

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If you're a condo seller looking to navigate the dynamic real estate market with finesse, you've come to the right place. In this comprehensive guide, we'll delve into the three powerful methods of selling condos: Reservations, Down Payments, and Transfers. Each approach offers unique advantages to help you seize the perfect opportunity and become a key player in the realm of homeownership. From quick returns to long-term profitability, we've got you covered. Get ready to gain valuable insights, hone your selling strategies, and embark on a rewarding journey to elevate your condo sales game to new heights. So, let's dive in, embrace the possibilities, and unlock the door to your condo selling success!

Reservations

Condo reservation refer to a process where individuals confirm their interest in a condominium property. It doesn't grant ownership rights but secures the desired unit temporarily. To ensure you don't miss out, keep track of project websites for registration and sales launch dates, including sales office locations. Investing in condo reservations can be profitable; targeting those who missed booking or recently discovered an appealing project. Mostly located near transit, competitively priced, buyers may offer premiums to reservation sellers, creating a lucrative investment opportunity for them.

Benefits

Condo reservation sales offer a unique investment opportunity with short-term returns. Typically spanning around one month, investors aim to capitalize on the price difference before the official contract signing with the project owner. Sellers of condo reservations can earn a profit margin ranging from 50,000 to 100,000 baht, depending on the project's appeal.

Drawbacks

Known for its investment nature, condo reservation sales come with inherent risks. Before diving in, thorough research is essential. Factors such as location suitability, project developer's credibility, unit positioning, project reputation, and effective marketing campaigns should be evaluated.

Down Payment

As condominium projects often start selling before construction begins to raise capital, interested buyers can immediately reserve their desired unit through a reservation contract. These buyers have the option to pay the down payment in installments while waiting for the completion of the project and the transfer of ownership, following the project's specified conditions.

If a reservation holder wishes to sell the condo before the ownership transfer date, they can do so by assigning the buying contract to another person. This process allows the reservation holder to sell the condo, and the new buyer continues paying the remaining down payment installments. It's a flexible way to secure your dream condo and an opportunity for those who might have to change their plans or financial circumstances before the completion of the project.

Benefits

Selling condos through down payment arrangements offers significant advantages in terms of the amount of capital required. Sellers can become condo owners with minimal expenses, aside from the reservation fee, contract fees, and monthly installment payments. Moreover, if the reserved condo becomes highly sought-after, sellers can increase the down payment price to capitalize on market demand and boost profits. Additionally, sellers are spared from the complexities and expenses of transferring ownership, making the process hassle-free and cost-effective.

Drawbacks

Despite the allure of condo down payment sales for investment purposes, there are notable drawbacks and risks that both sellers and buyers should be aware of. Many projects are aware of the profit potential in selling down payments, leading to the imposition of significant fees for contract assignments. Sellers may incur substantial expenses when executing these transactions. Additionally, some sales may lack proper ownership documentation, which can erode buyer trust and make reselling or financing difficult. Moreover, buyers may find it easier to walk away from their down payment if the condo project faces challenges or gets canceled, leading to potential complications and delays in refunding their installments. I

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Transfers

Condo transfer sales occur when the current owner, who has legally acquired the rights to the completed condo (with the ownership deed), decides to sell it to interested buyers. Whether the seller resides in the condo, rents it out, or has it mortgaged with a bank, they have the authority to sell their own property. This type of sale is commonly referred to as "reselling a condo" or "secondary condo sales."

Benefits

The key advantage of condo transfer sales is that buyers can make informed decisions and pay for a condo that is ready for immediate occupancy. Unlike off-plan purchases, where construction may not be completed, condo transfer sales offer the certainty of moving into a fully constructed unit. Moreover, if the seller's condo is located in a prime area or has a positive reputation, the property's value increases, allowing sellers to wait for long-term profits. Additionally, during the period before selling, sellers can generate additional income by renting out the condo for short-term periods to contribute to their mortgage payments.

Drawbacks

One of the drawbacks of condo transfer sales is the limited room for customization. Unlike purchasing a pre-construction condo, where buyers can often select specific finishes, layouts, and design elements, condo transfer sales offer little to no flexibility in personalizing the unit. Buyers must accept the condo in its existing condition, which may not align perfectly with their preferences and lifestyle. Additionally, if the condo has been occupied previously, there might be wear and tear issues or the need for repairs, which buyers should carefully inspect before finalizing the purchase. While condo transfer sales offer the advantage of immediate occupancy, the lack of customization options can be a downside for buyers seeking a more tailored living space.

Which Condo Sales Method is most suitable for you?

Urgent Sales

In urgent condo sales, sellers may have personal issues, dislike the location, or face financial difficulties. Even if they are still paying the down payment, they can choose to sell the condo quickly. It's advisable to set the down payment sale price not lower than the amount already paid. In extreme cases, selling the condo at a loss might expedite the process. As for condo transfer sales, if possible, sellers should wait at least one year after becoming the owner to avoid substantial business-specific taxes that might force hasty selling decisions. Being patient can prevent sellers from facing losses and unnecessary pressure during the process.

Short-Term Profits

If you're looking to generate short-term profits from condo sales, we recommend considering condo reservations and down payment sales before the actual transfer of ownership. With these methods, sellers can avoid significant upfront investments and the hefty costs associated with ownership transfers. By selling only the contract to buy, sellers can facilitate a quick and hassle-free process, making it an attractive option for those seeking lucrative returns in a short period. The key lies in reserving and selling down payment condos, making it an easy buy-and-sell opportunity, especially for properties located in prime areas. Secure your investment by reserving a condo before it's too late!

Long-Term Profits

If you're aiming for long-term profits from condo sales, we recommend holding onto condos in prime locations that are already completed and ready for sale. Condo values tend to appreciate over time, similar to the appreciation seen in the housing market. As a condo owner, you also have the option to generate rental income while waiting for the optimal time to sell. However, when investing using this approach, it's crucial for sellers to conduct thorough research and analysis, as not all condos will consistently fetch premium prices. Successful investments require careful consideration of market trends and potential growth opportunities. While the potential for long-term profit is promising, it's essential to approach this investment strategy with diligence and a well-informed approach.

Closing Comments

Congratulations, condo sellers, you've now unlocked the secrets of Condo Sales 101! Armed with the knowledge of Reservations, Down Payments, and Transfers, you hold the key to successful homeownership ventures. Whether you're looking for quick returns or aiming for long-term profit, understanding these sales methods is vital in navigating the ever-evolving real estate market. Remember, condo reservations offer swift opportunities, while down payment sales allow for flexible and profitable investments. For those seeking stability and capitalizing on value appreciation, condo transfers are your ticket to long-term success. So, seize the moment, strategize wisely, and embark on your journey to maximize profits and secure the perfect home for eager buyers. Happy selling, and may your condo sales journey be nothing short of exceptional!

Looking to list your condo for free with no hassles? List with us at PropertyScout today!

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If you're preparing to list your cherished property on the market, brace yourself for five invaluable broker-backed tricks that promise to take your home's selling potential to new heights. Selling a house can be intimidating, but fret not! These expert tips will not only draw in eager buyers but also guide you through the process with confidence and ease. So, fasten your seatbelts and join us as we embark on this captivating guide to transforming your property into a hot commodity in today's fiercely competitive real estate market!

Why sell your house through a Broker?

Accurate Home Valuation and Pricing

As a homeowner, determining the right value and price for your house can be overwhelming, especially without in-depth knowledge of the real estate market. The risk of setting a price too high or too low could hinder the selling process. But fear not! By partnering with a professional broker, you gain access to a thorough evaluation, taking into account crucial factors like location and current market trends. This guarantees that your house is priced accurately, perfectly aligned with market demands and your property's distinct features. Trusting a broker ensures a successful sale of your pre-owned home at its true market value, making the entire selling journey smooth and rewarding.

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Online and Offline Marketing

Selling your house through online platforms and websites might seem doable, but it demands significant time and effort. However, partnering with a broker unlocks a world of advantages through a comprehensive marketing strategy that covers both online and offline avenues. Brokers harness diverse channels to connect with potential buyers, utilizing their vast client databases and market expertise. With a broker's assistance, sellers are well-prepared to welcome an array of interested buyers, presenting their property in an enticing and accurate manner. Thanks to the broker's seamless and captivating approach, the entire selling process becomes smooth and hassle-free.

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Contacting Buyers and Guiding Home Visits

When you have potential buyers interested in visiting your home for a possible purchase, managing the process as a seller can be quite overwhelming. Taking time off work to accommodate showings can be challenging. However, the solution lies in entrusting the sale to a professional broker. Brokers handle the entire home visitation process on your behalf, from scheduling appointments to screening potential clients. By bringing qualified buyers to tour your property, brokers ensure that you receive valuable insights and feedback about your home.

Additionally, they play a crucial role in ensuring the safety and security of the process, protecting you from any fraudulent attempts. With their expertise in negotiation, brokers also help in navigating price discussions, ensuring both parties are content with the final agreement. By relying on a broker's experience and skills, you can confidently showcase your home and interact with buyers, making your selling journey smooth, successful, and ultimately rewarding.

Financial Knowledge in Real Estate Transactions

A solid grasp of financial matters, particularly credit and loans, can make a world of difference when selling a house. This knowledge plays a crucial role in assisting potential buyers who may need financial guidance to make their dream of owning our property a reality. Thankfully, entrusting the sale to a professional real estate broker can ease this burden significantly. Brokers bring invaluable insights and a deep understanding of mortgage applications to the table, helping buyers navigate the complexities of securing a home loan with ease.

Brokers can expertly guide buyers on choosing the right financial institutions, understanding interest rates, managing monthly installments, and meeting the necessary criteria and conditions. With a broker's expertise on hand, the selling process for our second-hand home becomes more accessible and inclusive, expanding opportunities for potential buyers and paving the way for a successful sale.

Relieving the Burden of Legal Matters in Property Transfer

Bid farewell to the complexities of contracts and meticulous procedures. When you entrust the sale of your home to a seasoned real estate broker, a world of knowledge and expertise comes along. From navigating sales agreements to overseeing financing and property transfers, brokers handle each step with finesse. They offer expert advice and act as your trusted representative during negotiations, ensuring your best interests are always protected. Selling your home with a broker guarantees a seamless and comprehensive deal, sparing you from investing your valuable time and effort. With their professional guidance, you'll glide through the legal intricacies confidently, securing a successful sale without any hassle.

Selling your House through a Broker

Draft the Contract

Once you've chosen a reliable real estate brokerage to sell your home, the first step is to finalize the contract with the broker. Usually, reputable companies or professional brokers have standard contract templates ready. However, it's essential to carefully read and verify all the information for accuracy. Pay special attention to certain clauses that directly impact the sale of your home, such as:

1. Broker's Commission: If the broker manages to sell your house at a higher price than initially agreed upon, will you agree to let them keep the excess amount as part of their commission? Make sure the contract clarifies this point.
2. Exclusive Representation: Some contracts may specify that you exclusively appoint the broker as the sole representative for the sale of your home, preventing other brokers from being involved during a specific timeframe. This clause serves as a safeguard, ensuring the broker's efforts are protected and minimizing the risk of competing representation.

By carefully reviewing and understanding these contractual details, you can proceed confidently without any concerns. A solid contract paves the way for a successful home selling journey with your chosen broker.

Home Valuation and Recommendations for Home Repairs and Renovations

When entrusting your home to a real estate broker, they conduct a meticulous home valuation, taking into account factors like location and property condition. They leverage this analysis to offer invaluable advice on setting the perfect selling price. Moreover, brokers can help connect you with reliable contractors for repairs and renovations, elevating your home's market value and maximizing potential profit. As a homeowner, it's crucial to compare your selling price with similar properties nearby while considering any associated taxes and fees. By doing your due diligence, you ensure a knowledgeable and financially rewarding selling experience for your cherished home.

Pay Brokerage Fees

Once the entire buying and selling process is complete, the homeowner will then pay the brokerage fees. These fees are typically around 3% of the home's selling price. For instance, if the house is sold for 2,000,000 Baht, the brokerage fee would amount to 60,000 Baht.

What to be aware of when selling a house through a broker

Does your Broker have a License?

Selecting a broker with a valid professional license from the Thai Real Estate Brokers Association is crucial. Obtaining this license involves passing rigorous examinations on agency representation and professional ethics, ensuring their competence in the field. Once licensed, brokers are bound by strict standards and ethical guidelines when conducting their responsibilities. This system ensures clients are served by knowledgeable and ethical professionals. In the event of misconduct or substantiated complaints, the broker's license may be revoked, leading to their exclusion from the Thai Real Estate Brokers Association. This stringent approach upholds the industry's integrity and protects consumers' interests, making it essential to opt for licensed brokers to guarantee a smooth and secure real estate experience.

The following are the documents required from brokers in the Agent and Agency Verification Process:

• Official government documents with photos such as ID card or passport, along with a picture of the broker with said documents.
• LINE ID.
• Phone Number.
• Email Address.

If you are an agent affiliated with a real estate agency, you need to submit one of the following documents to correctly identify the agency you are affiliated with:

• A certificate confirming your affiliation as an agent with the real estate agency.
• An ID card issued by the real estate agency or an ID card in the format of the real estate agency.
• A commission slip that displays the name of the real estate agency and your name as the agent.

For company verification, the real estate agency needs to submit the following documents:

• Certificate of Company Registration (such as ภ.พ.20 in Thailand).
• Official website of the real estate agency.
• Official Line ID (or Facebook/LinkedIn) of the company.
• Email address.

Unclear contract details from the Broker

Brokers should ensure that the content of contracts is clear and well-defined before obtaining signatures. All details related to broker fees must be explicitly stated, including the amount and timing of payment. Additionally, it should be specified who will be responsible for covering the transfer fee expenses. Furthermore, any contractual terms should be presented in a clear and unambiguous manner, leaving no room for misinterpretation. Clarity in contract writing is of utmost importance to avoid potential disputes and ensure a smooth transaction process.

Broker Requests for coverage of Expenses

In this case, the broker will be responsible for covering various marketing expenses, such as advertising, signage, fuel, phone bills, or even time spent on the process. When a homeowner chooses to enlist the services of a broker to sell their house, these expenses will be borne by the broker without any additional charges imposed afterward.

Brokers requesting for the Original house deed

Homeowners should avoid giving the original house deed to the broker to prevent potential fraud, unless they have specifically appointed the broker to handle the property transfer. In such cases, there will be two copies of the original house deed—the first one with the land office and the second one retained solely by the homeowner. This measure safeguards against any unauthorized alteration of the property deed.

In situations where the homeowner cannot personally conduct the property transfer at the land office, they can grant a power of attorney to the broker, specifying the scope of work, workdays, payment method from the buyer, and the clear process of fee payment for the transfer. Additionally, the broker should provide a certified copy of their ID card as evidence of their authority.

The Broker guaranteeing Selling Price and Timeframe

A reputable real estate broker should refrain from offering guarantees on selling price or timeframe, as it goes against the standards and ethics of their profession. Selling a house at the desired price and within a specific timeframe is a complex process influenced by multiple factors, including price, location, economic conditions, and effective marketing strategies. Thus, providing guarantees in this regard is not considered appropriate.

It's crucial to understand that achieving the desired selling price and timeframe is not always straightforward. It depends on various variables, and while a skilled broker may have interested buyers waiting, it doesn't guarantee an immediate sale. Adhering to ethical practices, the broker should focus on providing expert guidance and diligently assisting clients throughout the selling process.

Good luck on your House Sale with a Broker!

Selling your home with the help of a reliable broker can significantly enhance your chances of success. However, it's crucial to stay vigilant and be aware of potential red flags during the process. By avoiding agents who make unrealistic guarantees, lack proper credentials, or exhibit questionable behavior, you can ensure a smooth and profitable selling journey. Remember, a trustworthy broker will prioritize your best interests, guide you through the complexities, and work tirelessly to maximize your home's selling potential. With the right partner by your side, you can confidently embark on this exciting chapter of your life, knowing that your dream of a successful home sale is well within reach. Happy selling!

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Losing a job can be an overwhelming and uncertain experience, and finding stable housing during this challenging period can seem like an insurmountable task. However, this blog post is here to provide you with hope, guidance, and practical solutions. We understand the importance of a safe and secure home, especially during times of unemployment, and we are committed to helping you navigate through the maze of housing options available. Whether you're seeking government assistance programs, exploring rental alternatives, or considering temporary housing solutions, we've got you covered. Join us on this journey as we uncover the pathways that can lead you from crisis to comfort, empowering you to find the housing stability you deserve.

Temporary Solutions

Turning to Family Members

In times of unexpected job loss, one of the most prevalent housing alternatives for individuals is to turn to family members as a temporary living option until they secure new employment. Family can serve as an invaluable source of support during these challenging periods, providing not only a safe haven but also a nurturing environment while job searching. Taking advantage of the support system within one's family can help alleviate immediate housing expenses and foster a sense of solidarity as individuals work towards restoring their financial stability. It is crucial to engage in transparent and open communication with family members about the temporary arrangement, including discussing expectations and the intended duration of the stay.

This ensures that all parties involved can benefit from the arrangement in a mutually agreed-upon manner, fostering a harmonious and supportive environment.

Turning to a friend you can trust

If you have a trustworthy friend who resides in a condo, reaching out to them and exploring the possibility of becoming temporary roommates while you search for a job can be a viable option. Engaging in open and transparent communication with your friend is crucial, including discussing the intended duration of your stay and any expectations or arrangements. Your friend might not only provide a safe and comfortable living space but also offer valuable insights and recommendations regarding job opportunities.

Additionally, if your friend is engaged in an income-generating activity within the condo, there may be potential for collaboration, such as assisting with their work in exchange for shared earnings. By considering this arrangement, you can leverage your friendship, support each other, and potentially discover new opportunities while navigating the challenges of unemployment.

Seek a Condo for Rent

If you find yourself with a financial cushion from savings accumulated over time, you can explore the option of temporary housing in the form of a rented condo. It's not necessary to go for the most extravagant or high-end condo unit in the project. Instead, opt for a more modest and affordable option that fulfills your basic needs while you focus on job searching. By choosing the most basic and economical condo unit available, you can effectively manage your finances and have a comfortable temporary residence during this transitional phase of your life.

Long-term Solutions

Making money while you're living in a condo

Living in a condo while having a financial cushion from savings accumulated over time can present an opportunity to generate income through various means. One option is to set up a new business. The convenience and flexibility of condo living can allow you to establish a home-based business, whether it's an online store, consulting service, or creative endeavor. With your financial cushion, you can invest in the necessary resources, marketing efforts, and business development to get your venture off the ground.

Additionally, living in a condo provides an ideal setting for content creation. You can explore platforms like YouTube or podcasting to share your expertise, interests, or unique perspectives with a wider audience. Creating engaging and valuable content can attract viewers or listeners, and with strategic monetization methods, such as ads, sponsorships, or merchandise sales, you can generate income while pursuing your passion.

Moreover, a condo can serve as a conducive environment for offering tutoring services. If you possess specialized knowledge or skills in a particular subject area, you can leverage your expertise to provide tutoring services either in person or online. This allows you to utilize your time effectively and generate income while helping others achieve their educational goals.

Lastly, your condo can also serve as a hub for selling products. Whether you have collectibles, handmade crafts, or unique items, you can establish an online store or utilize platforms like Facebook or Instagram to reach potential buyers. With your financial cushion, you can invest in inventory, branding, and marketing to enhance your sales potential.

Living in a condo while having a financial cushion opens up a range of opportunities for income generation. By leveraging your resources, skills, and the convenience of condo living, you can set up a new business, create content, offer tutoring services, or engage in online selling, allowing you to generate income while pursuing your passions and making the most of your living situation.

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Budgeting for Affordable Housing

Budgeting for affordable housing involves carefully managing your finances to ensure that housing expenses remain within your means. It requires evaluating your income and expenses, creating a realistic budget, and making strategic choices to reduce housing costs. This includes considering options such as shared housing or roommates, negotiating rent with landlords, and exploring affordable neighborhoods or housing markets. By prioritizing and allocating your resources effectively, budgeting for affordable housing empowers you to secure a suitable and sustainable living arrangement without compromising your financial stability.

You can do it, Good Luck!

In conclusion, remember that from crisis springs the opportunity for comfort. Although facing unemployment can be a daunting and uncertain journey, there are housing options available to support you during this challenging time. Embrace the support of family, friends, and community resources, for they will be your pillars of strength. Stay determined, be proactive in your job search, and believe in your abilities. We wish you the very best in finding a new job that fulfills you and brings financial stability, and may your temporary housing provide you with the peace and tranquility you need to weather this storm. Remember, you are not alone, and brighter days are just around the corner. Keep your spirits high and your hope alive as you embark on this journey from crisis to comfort.

Need a nice, warm home or condo to turn to during this difficult time? Don't worry as PropertyScout is here to help you find a nice, comfy haven for you