Value Of A Rai

[DavidOxon]

Hi there . . . .

I'm being offered land in Chiang Mai in the general Big C - Super highway area . . . . I think

it's currently cultivated Paddy field, at the 'mates rate' of 150k bht/rai for upto 3 rai.

This sounds a good deal to me, but I can't get over there to see it!

the deal is being brokered between my Father in Law and his friend who

needs to pay off his bank!

Something inside me says 'Don't touch it with a barge pole!'

but the wife thinks we should look into it further . . . .

any words of wisdom out there?

Many thanks

David

[geoffphuket]

Hi there . . . .

I'm being offered land in Chiang Mai in the general Big C - Super highway area . . . . I think

it's currently cultivated Paddy field, at the 'mates rate' of 150k bht/rai for upto 3 rai.

This sounds a good deal to me, but I can't get over there to see it!

the deal is being brokered between my Father in Law and his friend who

needs to pay off his bank!

Something inside me says 'Don't touch it with a barge pole!'

but the wife thinks we should look into it further . . . .

any words of wisdom out there?

Many thanks

David

Sounds cheap, but a bargain is only a bargain if its really what you want. What do you intend doing with 3 rai of land that will probably be under water several months of the year....continue growing rice on it?

Edited July 11, 2007 by geoffphuket

[DavidOxon]

it does have an irrigation canal very near!

1 rai of rice might be fun to have!

[geoffphuket]

it does have an irrigation canal very near!

1 rai of rice might be fun to have!

Mate, you need to get out more

[goldfinger]

can do something like"Waterworld"

there is nothing like this in CM I think

Edited July 11, 2007 by goldfinger

[quiksilva]

Never buy something site unseen and without thorough due diligence. If you are not sure of its worth appoint check it against the govt's appraised value, but even that is not a direct reflection of true open market values, as govt valuations are done once every 5 years.

If you want to be sure appoint a valuer to appraise its worth prior to purchase.

[cmsally]

Paddy field is normally sold in blocks and not all pieces will have good road access. Worth checking.

The local land office will have a "value" for the land if you check with them.

If the person needs quick cash he should be selling it below value.

Of course there are other considerations when looking at the value. For example if the paddy owners behind me sold, I would be willing to pay more for land that was connected with my land and not pieces on the far side etc.

Needs to be checked out as well as title checked for names and if mortgaged.

[ChangMaiSausage]

I looked at some land earlier in the year it was being sold at a good price and was right next to a lake, everything looked good until....... I really looked at the land and boundries the land backed up to a road which frequently flooded you could see where the water had pooled during heavy rain. The seller told us that the goverment had promised to backfill the area and will also provide drainage from the road thus preventing any further water going onto the land. Bargain maybe but I was not willing to buy it with this problem.

Basically you would be better off putting the money towards a piece of land that you actually want and not on a whim.

[mrbojangles]

Basically you would be better off putting the money towards a piece of land that you actually want and not on a whim.

Good advice.

Personally i think 150k per Rai is pretty expensive but i don't know the Chang Mai region. Or, wether the land has electric, water (apart from flooding!!) access etc. Utilities and easy access in my experience have a huge difference on the value of land.

Last year i paid 300k for 3 Rai, lovely peice of land, all the utilities, no prone to flooding and easy access. We both liked it and bought it, after much consideration. Not on a whim