You need to try more banks IMO. Let any Taiwanese with you like your agent do the talking for you too.
Buy with. Cash?
Not quite what youāre asking, but watch out for å°äøę¬ type buildings.
Which bank? HSBC? They asked for my US tax returns and US security number to do a credit check. The other local banks only did local check and didnāt know how to check against foreign credit.
I backed out of a personal mortgage for a place in TW a few years back due to the many constraints on foreigners and because the construction company set a tight deadline to find a bank, too much money at stake to lose if something went wrong so I got spooked.
I eventually got a corporate mortgage, which is a little higher % than personal mortgage rates. Many banks like Cathy United, Fubon etc. said they only gave foreigner owned companies a mortgage at a higher interest rate. In the end I went with a local bank that treated foreigner owned companies fairly.
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HSBC is an international bank which allows credit scores to be used in other countries.
Local banks of course do not operate internationally the same way HSBC does.
Yes, HSBC.
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I thought that would help but it didnāt. For credit cards, itās also possible to get a card from a local bank w/o having any local income. HSBC is still useful for transferring funds.
Yup. I donāt have a local income. My wife does.
Well HSBC did offer you a loan yes? HSBC does so at higher rates than local banks.
No. They determined that my income wasnāt enough to cover my debts (including my debts in the US.)
Yeah I forgot you wrote that and paid cash. I paid cash for my current home. Have thought of buying more property. Auctioned places can be good to buy.
Maybe wait a bit. The market is very slow. I think the prices are going to drop some more next year. When thereās little competition, auction prices will come down. A few months ago when the market was hot their prices were basically market price.
US$ is also very strong against the NT$ now as well so that helps.
Iām paid in US$ from my clients overseas plus US stocks are US$.
Australia dollar is very weak to US$ atm so helps when I send $$ to Australia as well.
Can make some low ball offers now on new builds in over built areas or older apartments with 3 or 4 bedrooms and see if any bite. Seemingly smaller apartments and newer apartments are more popular.
Or buy two apartments with an ajoining wall that is not structural so you can turn them into one large apartment. That way you can end up with a 90 - 100 ping place and have two car parks.
Unrelated to the OP but still a noob question, I am trying to get an idea of list vs sales prices for properties on real estate sites such as 591 and Sinyi. Is there a way to check sales prices via these sites like there is on US sites like Zillow? In our corner of the US, people often list below the price they actually want, to generate interest and hopefully a bidding war. Is that a thing in Taipei and NTC, or do people generally list the price they expect? I imagine it varies by area and market conditions, just trying to understand if the list price, on average, closely resembles the eventual sales price.
Iām more looking at old gongyu. Iām sure those can be cheaper, but if I can find a workshop type place that I can buy (rather than rent and pray the landlordās son isnāt coming back to Taiwan), that would be greatā¦ Though I have no idea how mortgage works. My dad said basically mortgages are impossible to obtain, that unless you work at a top 100 company (TSMC and such), or government, the bank would never give you a mortgage.
If no mortgage and buy outright Iād want to buy a haunted house as those canāt be mortgaged anyways.
I know 591 has a thing that tells you the price per ping based on actual closing price, and that would give you a guidelineā¦
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Thanks TL.
Except that some of that is wrong.
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I donāt work for a top 100 company.
You shouldnāt even be thinking about this because, given your posting history and failure to take the advice people tried to give to you a few years ago, at this point you would have saved enough for a down payment.
You need a down payment before you even think about doing anything.
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To give you correct information as someone who actually bought a house, people list prices a bit higher than what they want, expecting you to talk them down anyways. There is no public bidding. It is first come first serve and you line up to place an official bid and if the homeowner rejects, they go to the next person.
I just Leju to check out previous purchases. Just click the comunity in question. Same with 591.
https://www.leju.com.tw/map?mode=buy
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