Quote:
Originally Posted by newyorker88
There is a danger to this, as I personally fall for this during the 98 crisis. If the value of the rupiah drops too harsh, it is you who will be the ultimate loser.
Take for example, if you buy the land say 100k sing. Which is about 600million rupiah today. then the IOU says he owe you 600million rupiah. If the rupiah becomes 20% of today's value in 3 years time, you lose out big, becos he pay you only 600 million rupiah which will be 20k sing only. Also, if the person dies, and have no kids, the land goes to the govenment.
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I offer tis suggestion in case he really die, die wan a freehold & nt leasehold property.
I understand wha U R driving @ which is why I ask him 2 state the loan amount 2 be a few times above the price of the house. Kind of safety guard against capital gains, currency inflation & ... Hwevr, he k state the loan amount 2 be return in SGD$ 2 be on the safe side.
The other pt abt the pax dies is a headache lor. 1 way, I tk gt 2 or few pax 2 be the co-owner, then state tat they loan tat amount of SGD$ fm U lor 2 be on the safe side.
There's no way U k be truly safe as tis is going thru the loopholes of the law & no 1 k ensure tat things go smoothly as intended. Anyway, personally dun tk their govt hav any credit in protecting legal foreign investment, so its jus abt taking bigger or smaller risk.
Quote:
Originally Posted by BtmMan
As I've mentioned earlier that I'm not too sure about the free hold thing and I'm only able to provide very brief info here.
The best is to consult the proper professionals like notaries if one is really serious about it.
Also regarding buying a property and putting a local name as official owner under gentleman's agreement, I've heard of cases that the notaries can also draft some form of contract for that...
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Ya, there R professionals offering tis kind of expertise but one mus tak note tis 2 R nt much diff. than "verbal" agreement as if one bring tis up 2 court, foreigners sure lose out 1(, scully still need 2 pay a fine hor?) So one mus be sure 2 spend time finding trust-worthy local "tau pei gong(s)" & really solid legal expert.
Best is buy a 30 yr leasehold 2 hav a peace of mind. Maybe, w/ option 2 autostart another 30 yr on expiry (Thai hav, nt sure abt Indon). I wld recommend tat as the Indon gt so much land & poor governing 2 maximize their potential, so nt likely 2 exp. the kind of great properties gain, lik in Sg, Hong Kong or the USA, ... + as newyorker88 hav mentioned, the unstability of rupian. Lk @ 1997, 2001 & 2005, lose more than 1/2 or more of their value each time.
