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RESALE FINANCING Siam Real Estate's Easy Buy Program

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Posted: 16 Feb 2010 | 6:00 am

Speaking to Richard Lusted from Siam Real Estate on market trends, he was quite vocal that two years ago the lion's share of transactions were off plan and now in an absolute turn around now they are dominated by resale's. Back of buyer feedback the firm has now created a program called Easy Buy, where 50% of a transaction is paid and the remainder payable on flex plans up to 3 years.

Terms are interest free if the balance is paid over the first year otherwise a fixed interest rate applies with monthly payment and then a balloon due on expiration. Land titles are held in escrow to ensure security.

It's an interesting incentive and according to Richard, the take up from purchasers has been significant. More details of the plan can be seen by clicking on:

Easy Buy Terms

DO YOU LIKE THIS?

SRE take no risk.The transaction is done through lawyers and is between seller and buyer. Yes, the seller agrees the terms he is prepared to risk and the buyer chooses his repayment plan; but if the buyer defaults he loses his money and the property remains in ownership of seller as would happen on any such transaction as title is not handed over until paid in full.

Richard Lusted, 22 Feb 2010 | 4:09 pm

GOOD IDEA,

ANY THING WORTH A TRY,SO I UNDERSTAND THE SELLER FINANCES IT, IS THIS TRUE?

WHAT RISKS DO SIAM REAL ESTATE TAKE?

WHAT WOULD HAPPEN IF HALF WAY THROUGH THE CONTRACT THE BUYER RENAGADED,WHAT WOULD HAPPEN TO THE MONEY PAID?
Bill Barnett responds:
In terms of a default, there is a link to the site of Siam Real Estate which gives more details so good to read this on the program itself.

JOHN DEVENPORT, 17 Feb 2010 | 11:39 pm

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