Buying Condo: Finance Options

Last activity 03 January 2024 by James Liu

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James LiuActive member03 January 2024 01:48:33

Happy New Year everyone. I'm currently renting a condo in Binh Thanh District. The owner is willing to sell it to me. I think the price is very reasonable. It's a SPA (sales and purchase) only unit. No pink book. A bit risky but a lot of good condos in Saigon have this problem. I like the location and my unit is one of a few in my building that has a foreign owner who is willing to sell. 50-year hold lease (minus 3 year) but I can sell it freehold to a Vietnamese citizen without any problem in the future. I want to pay cash for this apartment and need to finance around 40% of the purchase price. There's no way I'm paying above 10% mortgage from a Vietnam bank. Has anyone bought a place in Vietnam with US financing? Either taking a maximum 50K loan from 401K or through non-mortage loans from a US bank? Love to hear your thoughts.

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