Thinking of buying farm land . How much should I pay?

[Delight]

The farm land is 2 Rai.

The village is approx. 30 KM  Northwest of Korat.

It is  a farming village-that said it does sport a noodle factory and a resort style hotel..

Of course the Chanote will be in my wife's -if the deal goes ahead.

 

Does anybody know?

 

[blackcab]

It depends on many factors:

 

Location of land

Shape of land

How accessible is the land

What was the land used for previously

Does the land have any buildings with a blue book

Category of title deed

Are water and electric already installed

If not, does an existing PEA electric supply run past the land

What prices have been paid for similar land

How motivated is the seller

[Delight]

12 hours ago, blackcab said:

It depends on many factors:

 

Location of land

Shape of land

How accessible is the land

What was the land used for previously

Does the land have any buildings with a blue book

Category of title deed

Are water and electric already installed

If not, does an existing PEA electric supply run past the land

What prices have been paid for similar land

How motivated is the seller

The land is 100% farm land -and always has been

Access vis small side road . No access via main rd.

no power -never had buildings on it.

It is square shape.

I have no idea about category of the deed. My wife intends to farm at some point n the future.

As things stand i am the only prospect..

No idea about prior sales in the area

[brianthainess]

11 minutes ago, Delight said:

Access vis small side road . No access via main rd.

Who owns the small road, you could be denied access.

[IvorBiggun2]

Do you know the differences in land titles? IE Chanote and Sor Por Kor?

[blackcab]

1 hour ago, Delight said:

I have no idea about category of the deed

 

This is imperative to understand. You could be paying money for something that shouldn't even be sold.

 

1 hour ago, Delight said:

Access vis small side road

 

As noted above, who owns the side road? Does the property you are looking at benefit from an easement across the neighbour's land legally guaranteeing you access by foot and vehicle?

 

Is there an easement that allows you to pass electric cables from the main road to the piece of land you are interested in?

 

If not, the price needs to reflect this.

[IvorBiggun2]

2 hours ago, Delight said:

I have no idea about category of the deed.

But in the opening post you said it was 'chanote'.

[Delight]

2 hours ago, IvorBiggun2 said:

But in the opening post you said it was 'chanote'.

It is my understanding that a chanote relates to the ownership of land.

 

That said I do not think that it is relevant to my question..

 

[Delight]

3 hours ago, blackcab said:

 

This is imperative to understand. You could be paying money for something that shouldn't even be sold.

 

 

As noted above, who owns the side road? Does the property you are looking at benefit from an easement across the neighbour's land legally guaranteeing you access by foot and vehicle?

 

Is there an easement that allows you to pass electric cables from the main road to the piece of land you are interested in?

 

If not, the price needs to reflect this.

The small side road is not a private road. The farm land can be legally accessed from this road.

As stated earlier the land is for farming only. Does not require electricity

[IvorBiggun2]

54 minutes ago, Delight said:

That said I do not think that it is relevant to my question..

 

When buying land in Thailand it's essential to know all about the land title deeds. No knowledge. No buy.

Blackcab Got it right.

 

Quote

This is imperative to understand. You could be paying money for something that shouldn't even be sold.

 

[liddelljohn]

The Chanote will denote the type of land there are several categories  and some cannot be bought or sold ,, this includes  forests, resort land , government  land   and some farm land ,,,If its not near main road , or electric  it wont be worth much  anyway ,, the other problem is corrupt officials in Land office who falsify Chanotes  in league with crooks ,,

[RanongCat]

Do not  pay of less than individual chanote land...not part of bigger area that has.

Also access  need be not part  land of  surround  land as all of  total area.

If  seller is family  need be much care full !

[Delight]

32 minutes ago, liddelljohn said:

The Chanote will denote the type of land there are several categories  and some cannot be bought or sold ,, this includes  forests, resort land , government  land   and some farm land ,,,If its not near main road , or electric  it wont be worth much  anyway ,, the other problem is corrupt officials in Land office who falsify Chanotes  in league with crooks ,,

Can you quantify -'Not worth much'?

[sirineou]

6 hours ago, Delight said:

I have no idea about category of the deed.

This is the most important thing to know as it pertains to how much you should pay. And the first thing to ask. After that , electricity and water, road access, proximity to town etc.

The type of  Chanote will have the biggest affects in it's value. 

So:

In Thailand, there are several types of land deeds (also referred to as Chanote),

including: 1. Chanote (Nor Sor 4) - This is the most secure and reliable type of land deed in Thailand. It provides the owner with full legal ownership rights and protection under Thai law. 2. Nor Sor 3 Gor - This is a land title that is issued based on an aerial survey and is not as reliable as a Chanote. However, it is still a legal and valid title and can be upgraded to a Chanote. 3. Nor Sor 3 - This type of land title is issued without an aerial survey and is subject to more disputes and claims than a Chanote or Nor Sor 3 Gor. 4. Sor Kor Nung - This is a possession certificate that is obtained by occupying land for a certain period. It does not provide full ownership rights, but it can be upgraded to a Nor Sor 3 or Chanote. 5. Tor Bor Tor Ha - This is a temporary use permit and is often used for government land or public property. It does not provide full ownership rights, but it does allow for the use of the land for a specified period.

[1FinickyOne]

Is there water available? 

 

You should find out what land is selling for... my family always knows the going rate for farmland in the area...

 

We have done well buying farmland through the years. 

[patman30]

sorry i do not have the link
took me ages to find before when i needed it
but make sure you check the ground water quality
as it sounds like you will need a well
how much have you been told the 2 rai of land is?
do you have the chanote number to check the plot on https://landsmaps.dol.go.th/
even in more expensive parts of korat, farmland shouldn't be more than about 350k/rai if outside the village
make sure you get chanote checked out as other have mentioned some are zoned for agriculture only or cannot be sold (yet)
i am in Korat, i paid last year, 2.8m for 7 rai on 4 plots, in the village, have main road access, power, water etc.
also do not forget your land may need to be raised before it is ready to build on this can be expensive and take time.

[chalawaan]

Zero! Please don't. 

 

Look at all the foregoing posts, what a headache! 

 

If you yourself were a professional from somewhere like Southern Africa, then you have a chance of making a fist of it, if it's for your Thai family to muck about on, apart from the above-mentioned intricacies, well, buyer beware. 

 

Rent a shack in the boonies, on a quarter rai, be a hobby gardener, with your good lady, Richard Breirs, Felicity Kendall, and die wise, rich, and happy. 

[Delight]

Thanks 

 

Useful advice.

Someone -back in time -has created a lake on this land. Long and thin. Lake may not accurately describe it. It is however a source of water.

The aim of this exercise is to provide a source of income for my wife -when she becomes a widow.

 

 

 

[donx]

18 minutes ago, Delight said:

Thanks 

 

Useful advice.

Someone -back in time -has created a lake on this land. Long and thin. Lake may not accurately describe it. It is however a source of water.

The aim of this exercise is to provide a source of income for my wife -when she becomes a widow.

 

 

 

Have you been quoted a price from the owner?

[bignok]

1 not your name

2 doubts about title

3 no water or power

 

How much do you want to give away? There's your answer.

[bignok]

21 minutes ago, Delight said:

The aim of this exercise is to provide a source of income for my wife -when she becomes a widow.

Buy some shares, leave to her in will.

[FriendlyFarang]

As somebody who has recently been looking for land, my experience:

I was looking for land to build on, so obviously the requirements and factors are different compared to farm land.

The prices vary a lot, and depend on various factors, the most important factors are location and accessibility though.

 

A piece of land next to a big road close to a 7/11 costs twice as much as one just a few minutes a way next to a small road, and the plot at this small road costs twice as much as a plot that's again just a few minutes away next to a narrow road. So one plot of land which is just two kilometers away from another might cost 4 times as much, that's of course just a ballpark figure.

 

If you spend some time looking at farm land you will probably also be able to identify key figures which decide the price, and thus allow you to judge what's a reasonable price.

You will then also notice that some people ask for a multitude of what would be reasonable, I don't really know what they are trying to achieve with this, maybe hoping to find a sucker.