Lease/Sale condo over 240 months with payments based on GOLD bar orice
Can a foreign owner of a condo sell a condo with these terms. Is this legal and ok in Thailand? Seller is old and wants steady income that is linked to gold so that he does not loose purchasing power. Buyer has no big money to buy condo but has a solid business that anyway pays rent to the tune of 30,000 baht per month. Can the owner of a condo LEASE his condo over 240 months wherein... Payment shall be in Thai Baht CURRENCY to selkers Thai bank account not gold. On the 1st of each month you look up the 1st morning price for 1 Thai Gold Baht 23k bar at Thai Gold Traders Association at http://www.goldtraders.or.th and multiply this by 2 and that is the payment you make in Thai currency on that morning. August 15th 1 Thai Gold Baht 23k bar = 22,000 x 2 = 44,000 baht Thus if I buy gold on the day of payment I will end up with 288 bars of the 1 Thai Gold Baht 23k bar. The buyer cannot pay off the seller even with 288 bars of gold or money equivelent early!!!! After lease completed the seller must turn over condo to buyer at the land department and buyer and seller split transfer fees.
Category: Buying a Condominium
Asked 8 years ago
Joseph 