Sell rented home how?

[Jason82]

On 7/25/2020 at 2:22 AM, Yellowtail said:

While conferring with an attorney is probably a good idea, I imagine it is a common issue and can all be done at the land office if all the parties are present. 

I too imagine, it is a common issue when selling land that a foreigner had been 'owning' through 30 year rent contract. Meeting at the land office won't happen because I am in Europe and have no way to get to Thailand for the forseeable future.

 

 

On 7/25/2020 at 6:48 PM, Yellowtail said:

 

Which is what gives the lease value. If it's a nice up-country home in a tract of homes, the home itself could very well be worth much more than the property. The current and/or future land owner can do nothing with it without the termination of the lease, unless they want to wait 17 years. 

 

The current land owner could sell the property, but could get little for it given the 17 year lease.

 

If the home & land is a good buy at B2M, it is conceivable  that the land owner would be happy with B200K, as it is significantly better than nothing, and the future owner would be happy to pay a total of B2M for land and home.

 

To the current lease holder the value would be much greater were the lease transferable. Given the circumstances, to the current and future owner, the value of the lease is the same be it transferable or not, yes?

Exactly.

 

And the prospective buyer does not need a lease anyway, because he is Thai and can own the property outright.

[Jason82]

On 7/20/2020 at 6:09 PM, soi3eddie said:

Good luck and let us know tho outcome. 

It's done, so this is how it went:

 

The developer, who found the buyer, sent me a power of attorney form (หนังสือมอบอำนาจ) for the land office. He had allready filled everything in.

I signed the form at a notary public, took it to the regional court for legalization, then sent it to the Royal Thai consulate and when they sent it back to me I had it sent to Thailand together with the chanote, which was in my possession.

 

After that I wasn't much involved anymore. At the land office the developer handled everything and resolved a few problems, because the tabien baan was apparently missing, but everything turned out fine and he transfered me the remainder of the THB 2M price (less his 10 % and less fees for the land office) to my bank account in Germany.

 

The Royal Thai consulate was actually the slowest link in the chain. When I first phoned to find out how to get my signature legalized, the woman I spoke to said, I would need to have the POA first translated into German by a registered translator, then sign it, have everythin legalized and then have it translated back into Thai by a registered translator again before I send it to the consulate. Of course that was not the case, I did not need any translation, still it took them 2 weeks for legalizing the signature of the president of the regional court.

[Yellowtail]

Congratulations, glad it worked out for you! 

[soi3eddie]

9 hours ago, Jason82 said:

It's done, so this is how it went:

 

The developer, who found the buyer, sent me a power of attorney form (หนังสือมอบอำนาจ) for the land office. He had allready filled everything in.

I signed the form at a notary public, took it to the regional court for legalization, then sent it to the Royal Thai consulate and when they sent it back to me I had it sent to Thailand together with the chanote, which was in my possession.

 

After that I wasn't much involved anymore. At the land office the developer handled everything and resolved a few problems, because the tabien baan was apparently missing, but everything turned out fine and he transfered me the remainder of the THB 2M price (less his 10 % and less fees for the land office) to my bank account in Germany.

 

The Royal Thai consulate was actually the slowest link in the chain. When I first phoned to find out how to get my signature legalized, the woman I spoke to said, I would need to have the POA first translated into German by a registered translator, then sign it, have everythin legalized and then have it translated back into Thai by a registered translator again before I send it to the consulate. Of course that was not the case, I did not need any translation, still it took them 2 weeks for legalizing the signature of the president of the regional court.

 

Good to hear that you got the outcome expected. Your tenacity in securing all the paperwork and the buyer still wanting to buy the property paid off in the end. Pleased to hear a positive conclusion to your situation.

 

[alacrity]

You mention 'rental' and 'lease'. There's a difference in rights, between the two. In fact you don't have ownership of the house or land. Assuming all is legal, in either case you have the right to negotiate the cost of removing an impediment to a legal transfer of the property. That's it. 10% of the overall value is extortion on your part.

 

If your lease/rental hasn't been legally registered you have fewer rights which could realistically only be resolved by legal contention, which could cost you more than your ideal salutary amount.

 

Recouping your paid 'rental/lease' would probably be the limit of your entitlement.

[Yellowtail]

1 minute ago, alacrity said:

You mention 'rental' and 'lease'. There's a difference in rights, between the two. In fact you don't have ownership of the house or land. Assuming all is legal, in either case you have the right to negotiate the cost of removing an impediment to a legal transfer of the property. That's it. 10% of the overall value is extortion on your part.

 

If your lease/rental hasn't been legally registered you have fewer rights which could realistically only be resolved by legal contention, which could cost you more than your ideal salutary amount.

 

Recouping your paid 'rental/lease' would probably be the limit of your entitlement.

He already sold it