Repossesed Condo's

[starrunner]

Is it normal for Thai Banks to sell off repossesions of condo's etc. Is there a web link to this so I can see whats on offer or do you need to contact the banks directly

steve

[dave111223]

Just go to the various bank websites and a lot of them have a property section listing all their properties.

For example:

http://property.scb.co.th/

http://www.krungsriproperty.com/

I bought my condo from a bank. Be warned though, most repossessed properties are repoed for a reason (ie previous owner had no money/was a bum etc..) So this means most of the bank properties are not in the best condition.

It took me couple of months of work to overhaul this place, but was worth it in the end.

If you're looking for a nice new spiffy unit to move right into, buying a repoed property may not be the best way to go.

But if you don't mind doing a bit of fixing up then there are definitely deals to be had.

[cmsally]

Hi dave111223

I've had a look at some, did you go the auction route or buy property already in the banks name?

[dave111223]

Hi dave111223

I've had a look at some, did you go the auction route or buy property already in the banks name?

Property was already in the banks name. You can get a pretty good deal, seeing as it costs the banks money to hold on to the condo (monthly service charges), so they want to unload them.

Another thing i notice is that Thais seem very reluctant to do any refurbishing. My wife's family all thought i was crazy buying this condo, as it had been on the market 3 years, and was in really bad condition.

So if you find a place which needs quite a bit of work, chances are there will be no other Thai buyers interested.

[SiamSquare123]

becareful the ex owners dont try to stalk or hurt you.

[Khun Bob]

Hi dave111223

I've had a look at some, did you go the auction route or buy property already in the banks name?

Property was already in the banks name. You can get a pretty good deal, seeing as it costs the banks money to hold on to the condo (monthly service charges), so they want to unload them.

Another thing i notice is that Thais seem very reluctant to do any refurbishing. My wife's family all thought i was crazy buying this condo, as it had been on the market 3 years, and was in really bad condition.

So if you find a place which needs quite a bit of work, chances are there will be no other Thai buyers interested.

Dave - glad to hear you went this route.

Would you be able to go into a bit of detail on the buying process with the bank, experience you learned from this - ie things to watch out for etc

If you dont want to write on here, then please do PM me.

Thanks in advance

[lotus eater]

Dave - glad to hear you went this route.

Would you be able to go into a bit of detail on the buying process with the bank, experience you learned from this - ie things to watch out for etc

If you dont want to write on here, then please do PM me.

Thanks in advance

Actually if Dave did have anything to add to what he's already advized above, I'd be very interested to read it too. (So Dave if you PM could you please copy me? Thanks a lot.)

[joeuk1]

Just go to the various bank websites and a lot of them have a property section listing all their properties.

For example:

http://property.scb.co.th/

http://www.krungsriproperty.com/

I bought my condo from a bank. Be warned though, most repossessed properties are repoed for a reason (ie previous owner had no money/was a bum etc..) So this means most of the bank properties are not in the best condition.

It took me couple of months of work to overhaul this place, but was worth it in the end.

If you're looking for a nice new spiffy unit to move right into, buying a repoed property may not be the best way to go.

But if you don't mind doing a bit of fixing up then there are definitely deals to be had.

The Krungsri link was great had link for English , the Scb link i could get work my way around to finding the property section its all in Thai . If anyone has any more same links please post them , i did a google and did not come up With much .

JB

[joeuk1]

Can someone explaine to me Thai land sizes .

I see land for example 0-2-54 or 2-0-0 what do the 3 digits mean .

JB

[donx]

Can someone explaine to me Thai land sizes .

I see land for example 0-2-54 or 2-0-0 what do the 3 digits mean .

JB

The first number is the number of rai. The second represents the number of ngan. The third number is the number of talang wah. So 0-2-54 mean 2 ngan plus 54 talang wah which is the same as saying 254 talang wah which also equals 1016 m2.

1 rai = 4 ngan = 400 talang wah = 1600 m2.

1 ngan = 100 talang wah = 400 m2

Thus the second number will always be between 0 and 3 and the third number will always be between 0 and 99.

[sbk]

Siam City Bank http://property.scib.co.th/property/index.asp

Krung Thai Bank http://www.npashowroom.ktb.co.th/WebShowRoom/HomeServlet

Bangkok Bank