Bank process of selling reprocession house

[stupidfarang]

Hi,

Anyone know what the stages are for the selling of a property the bank has reprocessed? I have heard there are 3 prices/stages in the selling. If anyone has more info on if this is true, it would be good to know as am looking at a house to buy that has sat empty for about one year as the bank try's to sell.

 

1) first selling price is based on current house/property price within the market

 

2) Second selling price, if not sold at first price then the price is dropped to a lower price.

 

3) Third selling price, if not sold on second price, price is lowered.

 

4) If not sold it goes to government auction.

[proton]

You are unlikely to get a good deal, good house auctioned off up the road three years ago, nobody knew about it. One person who was told turned up bid one million, sold in an instant, worth at least 3.5.

[IvorBiggun2]

2 hours ago, stupidfarang said:

Anyone know what the stages are for the selling of a property the bank has reprocessed?

https://silklegal.com/a-guide-for-buyers-property-public-auction-in-thailand-3/

Google is your friend.

https://www.google.com/search?q=the+stages+are+for+the+selling+of+a+property+the+bank+has+reprocessed+in+thailand&rlz=1C1CHBF_enTH1042TH1042&oq=the+stages+are+for+the+selling+of+a+property+the+bank+has+reprocessed+in+thailand&gs_lcrp=EgZjaHJvbWUyBggAEEUYOdIBCTE2MzQwajBqN6gCALACAA&sourceid=chrome&ie=UTF-8#ip=1

 

[IvorBiggun2]

I always thought it wasn't the property that was sold but the land it sits on. A house sitting on a small plot of land with a chanote title will get a better price than a large plot of land sitting on a Sor Por Kor title?

[stupidfarang]

13 hours ago, IvorBiggun2 said:

https://silklegal.com/a-guide-for-buyers-property-public-auction-in-thailand-3/

Google is your friend.

https://www.google.com/search?q=the+stages+are+for+the+selling+of+a+property+the+bank+has+reprocessed+in+thailand&rlz=1C1CHBF_enTH1042TH1042&oq=the+stages+are+for+the+selling+of+a+property+the+bank+has+reprocessed+in+thailand&gs_lcrp=EgZjaHJvbWUyBggAEEUYOdIBCTE2MzQwajBqN6gCALACAA&sourceid=chrome&ie=UTF-8#ip=1

 

So it goes down by 10% if not sold at each auction stage, thank you for the link. I did try finding the info on google, yet no luck, so came here to ask. 

 

[stupidfarang]

12 hours ago, IvorBiggun2 said:

I always thought it wasn't the property that was sold but the land it sits on. A house sitting on a small plot of land with a chanote title will get a better price than a large plot of land sitting on a Sor Por Kor title?

If the house is in the same name as the owner of the land then sold togeather. A friend bought some land last week, had a house on the land, had to go to the sellers bank first to pay the 2million the seller had borrowed from the bank so they could get the land papers, then found out the house was in another persons name, seller sorted that out (I assume there were some papers for the house) then friend paid the balance and is now the owner of land and house. Buyer beware comes to mind.