asking price v selling price

[steve3245]

when buying a villa in thailand, what kind of discount can you get now on property ?

 

are houses selling for their asking price or are there bargains to be had such as 5mb villas selling for 4m ?

 

thanks

[ThailandRyan]

Contact some of the relators in the business of selling.  Check on the web, many for sale already at discounts. 

[steve3245]

thanks Ryan .

[impulse]

56 minutes ago, ThailandRyan said:

Contact some of the relators in the business of selling.  Check on the web, many for sale already at discounts. 

 

Just be careful of those who would have you believe they can sell a villa to a foreigner under a sham corporation.  In fact, I'd talk to foreigners who already own real estate and ask their suggestions before I'd trust someone who makes money from it.  Lots of horror stories, especially involving foreign "real estate brokers".  And no recourse under any Realtor code of ethics or laws.

 

Of course, it's different if you're buying it in your Thai wife's name.  Still some pitfalls, just different ones.  Always good to get input from others who've been down the path.

 

Edited May 30, 2021 by impulse

[steve3245]

thanks impulse

 

it will be in my girlfriends name .

 

is it common to get 10%-20% off the asking price ?

[Airalee]

8 minutes ago, steve3245 said:

is it common to get 10%-20% off the asking price ?

There is no hard and fast rule when it comes to discounts.  It’ll be on a case by case basis.  One thing to be aware of is that a particular listing may be listed by multiple agents with some of them tacking on “extra” so that they can pocket the difference.  You really have to comb through the listings in order to see this game. These are the agents to avoid.

[steve3245]

thanks Airalee , i have noticed that on the website that shows all the agents together and some have different prices for the same property

 

11 minutes ago, Airalee said:

There is no hard and fast rule when it comes to discounts.  It’ll be on a case by case basis.  One thing to be aware of is that a particular listing may be listed by multiple agents with some of them tacking on “extra” so that they can pocket the difference.  You really have to comb through the listings in order to see this game. These are the agents to avoid.

 

[YT3k72Em]

Offer 25% less and see what they say. You can always go up.

[steve3245]

6 hours ago, YT3k72Em said:

Offer 25% less and see what they say. You can always go up.

i wouldn't want to offend them too much 555

 

but you are right, we will offer probably around 20% below asking price and see how it goes

 

 

[chrisandsu]

If it’s foreign owned you are far more likely to get a discount as it’s been cash bought . Very few farangs can get a mortgage (unless of course their wife with an actual job can ) if it’s Thai owned and had a mortgage on it find out what’s owed on the mortgage and offer that . Houses are easy to buy in Thailand and a damn site harder to sell !  

[Yellowtail]

Offer 50% cash and see what happens. "If you don't ask the answer's no, and you can always offer more... 

[steve3245]

thanks for the replies

 

yellow , 50% might be a bit of an insult, we will probably go around 25% - 30% less and see how it goes

 

chrisandsu , it will be bought cash  , no mortgage .

[Yellowtail]

7 hours ago, steve3245 said:

thanks for the replies

 

yellow , 50% might be a bit of an insult, we will probably go around 25% - 30% less and see how it goes

 

chrisandsu , it will be bought cash  , no mortgage .

 

And it they say yes you'll know you should have gone 50%.

 

I never understood what is insulting about making a low cash offer, if nothing else it opens negotiations. When I'm buying something,  and someone asks me what my target cost is, I tell them zero. I don't expect to hit it, but  the closer I get to the target the better. 

[ronaldo0]

Have seen some reduced from 18m to 10/11m bht . These are obviously overpriced to start with but they are mostly worth more than the new asking price and people have had no choice but to slash prices as Covid has ruined them financially as in some cases of people in business.

Property below 10m bht I think the most you will get off a place is 1/1.5m bht depending on the sellers desperation or not to sell quickly.

If the place is Thai owned then they will usually leave it at some mental price and hell shall freeze over before they drop it ????

[chrisandsu]

1 hour ago, Yellowtail said:

 

And it they say yes you'll know you should have gone 50%.

 

I never understood what is insulting about making a low cash offer, if nothing else it opens negotiations. When I'm buying something,  and someone asks me what my target cost is, I tell them zero. I don't expect to hit it, but  the closer I get to the target the better. 

I have had people low ball me in the past . I don’t even reply to them . Most people won’t throw out a low ball offer face to face it’s normally through a text or email . 

[Yellowtail]

23 minutes ago, chrisandsu said:

I have had people low ball me in the past . I don’t even reply to them . Most people won’t throw out a low ball offer face to face it’s normally through a text or email . 

 

I would not make an offer to anyone without having first meeting them and seeing the property. 

[Yellowtail]

36 minutes ago, ronaldo0 said:

Have seen some reduced from 18m to 10/11m bht .

 

For example? I have not seen this. 

 

[ronaldo0]

5 hours ago, Yellowtail said:

 

For example? I have not seen this. 

 

In samui there is one just above the market in banrak reduced from 18 to 11 million. Today I seen one on beach reduced from 60 million to 39 million. 

[xtrnuno41]

It is about market, how much you want something, or how rare.

Here we have houses now selling in big prices. There is a shortage of houses in the country.

some one here sold their house, broker said 253 k euro. The woman liked the number 259, asking price.

The first one who came offered 265 k euro with demand to take it of market then. Done.

Neighbor next door sold it for 275 k euro. And those were houses doing some years ago about 170 k euro.

I bought the house in 1997 and then it was 89 k euro. I think i could sell it 250 k euro easily, probably will have a line up, as they are selling very fast, incredible. And then the new people even renovate the whole house again, no matter how it looks inside.

Also personal situations effects selling, like losing a job, a divorce or what ever.

[RocketDog]

On 5/30/2021 at 11:31 PM, steve3245 said:

thanks impulse

 

it will be in my girlfriends name .

 

is it common to get 10%-20% off the asking price ?

FYI, I  bought a house here two years ago and it has a 90yr  lease on the land. House and lease are fully transferable in my will to anybody, Thai or otherwise, I can sell it, etc.

 

Neither house/condo/villa have to be in the name of a Thai national, as many on TVF believe. There is no particular reason it must be in her name. In fact it seems to be needless financial exposure to many expats here.

 

Engage a lawyer. I paid 50k ฿ to cover everything related to the sale and any future issues.

[Yellowtail]

20 minutes ago, RocketDog said:

FYI, I  bought a house here two years ago and it has a 90yr  lease on the land. House and lease are fully transferable in my will to anybody, Thai or otherwise, I can sell it, etc.

 

Neither house/condo/villa have to be in the name of a Thai national, as many on TVF believe. There is no particular reason it must be in her name. In fact it seems to be needless financial exposure to many expats here.

 

Engage a lawyer. I paid 50k ฿ to cover everything related to the sale and any future issues.

 

I didn't think you could get a thirty year lease.

[Yellowtail]

2 hours ago, ronaldo0 said:

In samui there is one just above the market in banrak reduced from 18 to 11 million. Today I seen one on beach reduced from 60 million to 39 million. 

 

Do you happen to know the name of the projects? 

[RocketDog]

Just now, Yellowtail said:

 

I didn't think you could get a thirty year lease.

They are quite common actually. I have three 30 year leases that run consecutively. At the beginning of each I must simply inform the owner of my intention to stay.

 

But again, engage a real estate attorney. $1500 is less than 1% of the cost of my house and I'm very glad I did it.

[ronaldo0]

2 minutes ago, Yellowtail said:

 

Do you happen to know the name of the projects? 

They are not projects . The one in banrak is Thai style and quite big but it’s proximity to the road may put some people off but it has great views across the bay . The second one was on property groups in samui of which there are about 5 . They are flooded with rentals , new builds , developments and places reduced to sell . 

[ronaldo0]

21 minutes ago, Yellowtail said:

 

Do you happen to know the name of the projects? 

They are not projects . The one in banrak is Thai style and quite big but it’s proximity to the road may put some people off but it has great views across the bay . The second one was on property groups in samui of which there are about 5 . They are flooded with rentals , new builds , developments and places reduced to sell 

 

https://www.facebook.com/groups/971482609575288/permalink/4152363831487134/?sale_post_id=4152363831487134

[patman30]

you will probably find those who need to sell have already dropped their asking price
you can always get discount,
but mostly comes down to the owners position and how much they need to sell

where abouts are you looking ?
i do have a nice big spacious villa on 1 Rai for sale and a few condos

[sammieuk1]

There are no bargains from what I see due to the pandemic increasing prices ???? 

[bluebluewater]

On 5/30/2021 at 11:31 AM, steve3245 said:

 

 

it will be in my girlfriends name .

 

 

Aye  -  this is an excellent idea!

[chrisandsu]

4 hours ago, xtrnuno41 said:

It is about market, how much you want something, or how rare.

Here we have houses now selling in big prices. There is a shortage of houses in the country.

some one here sold their house, broker said 253 k euro. The woman liked the number 259, asking price.

The first one who came offered 265 k euro with demand to take it of market then. Done.

Neighbor next door sold it for 275 k euro. And those were houses doing some years ago about 170 k euro.

I bought the house in 1997 and then it was 89 k euro. I think i could sell it 250 k euro easily, probably will have a line up, as they are selling very fast, incredible. And then the new people even renovate the whole house again, no matter how it looks inside.

Also personal situations effects selling, like losing a job, a divorce or what ever.

Same where I live . Everyone’s fleeing the cities since covid started . It’s not unusual for houses to go for $150k over asking . I could sell my houses now for $750k I bought it for 280k 12 years ago problem is if I sell it I will overpay to stay in the same area so makes very little difference to me , unless of course we move to Thailand full time once my kids finish school here.

[Elkski]

Prices in Utah are at record highs.  Multiple offers over asking.  Many cash offers no contingencies.  Crazy times.  Many people have realized living in a big city has little to offer if there is a health issue.   Many people have now learned how to cook.  Many people now realize it's better if you live near places people want to travel to visit rather than relying on a city life with travel breaks required.   Lots of people have reset priorities.  Lots of people will now work remote forever.