DavidOxon Posted July 11, 2007 Share Posted July 11, 2007 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 Link to comment Share on other sites More sharing options...
geoffphuket Posted July 11, 2007 Share Posted July 11, 2007 (edited) 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 Link to comment Share on other sites More sharing options...
DavidOxon Posted July 11, 2007 Author Share Posted July 11, 2007 it does have an irrigation canal very near! 1 rai of rice might be fun to have! Link to comment Share on other sites More sharing options...
geoffphuket Posted July 11, 2007 Share Posted July 11, 2007 it does have an irrigation canal very near!1 rai of rice might be fun to have! Mate, you need to get out more Link to comment Share on other sites More sharing options...
goldfinger Posted July 11, 2007 Share Posted July 11, 2007 (edited) can do something like"Waterworld" there is nothing like this in CM I think Edited July 11, 2007 by goldfinger Link to comment Share on other sites More sharing options...
quiksilva Posted July 12, 2007 Share Posted July 12, 2007 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. Link to comment Share on other sites More sharing options...
cmsally Posted July 12, 2007 Share Posted July 12, 2007 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. Link to comment Share on other sites More sharing options...
ChangMaiSausage Posted July 12, 2007 Share Posted July 12, 2007 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. Link to comment Share on other sites More sharing options...
mrbojangles Posted July 12, 2007 Share Posted July 12, 2007 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 Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now