Quote:
Originally Posted by oldtits
its good u enjoy and probably have friends in cambodia to guide u.
but better to check the land titles (soft/hard) before purchase. some condos land belongs to the owner and 2nd floor titles onwards are not safe. did encounter some got con even for fake land titles, some of them even sell state land. this issue very very common in cambodia and many disputes.
just my 2c
|
Yes yes, Thanks for your advice. I am studying and I would rather pay for the 4 % to convert to a hard title. I will find a lawyer and agent to do the title search and any encumbrances. I am not first time buying properties but first time doing them there. I am surprised that those 2-4 levels apartments can consider buying. Cause they are landed property right. So foreigners cannot buy land unless u do something (change citizenship/find a local to co-owned or form a land holding company). So as long as the land does not belong to me I am not interested in that kind. Also, the view is not impressive and mainly old buildings for those low floored houses. Foreigners cannot own land and the first floor of a building. With that, shophouses landed properties were all wiped out. These are cheaper than condominiums and apartments but the view and noise are not very good. For condos, they must be strata title and 30% owned by their own people. So as long as I am not owning the first floor and it is a strata title and hard title I should be fine. I will check more any more input will be appreciated.
Therefore, buying from a developer with a proven track record is another option. However, financing is a bit problem cause this country many banks are not willing to loan. If get financing from the developer, they charge too high at 8.5%. So still need to study. However, they package it up like guarantee rental returns for a few years while charging you management fees and mcst. Some even promise if the value drops below valuation they will buy back from you. Anyone got experience and what to look out for???