Valuation Of Land And Property - Bkk

[magpie3]

Hi All,

Has anyone had experience of employing an individual/entity for the purposes of valuing a house with land in BKK

This thread may overlap with discussions about values generally, but I would like to know whether it is possible or worth trying to value the property using a private professional source rather than looking at the government official figures, which I am told are available and may be useful, but probably only for comparison - perhaps.

I would prefer an objective and considered approach from an experienced practitioner, who has some technical skills for valuation as well.

Curious??

Fact is I simply want to arm myself with information to assess whether any offer made for the property is fair and equitable - as far as these words mean anything in my current situation/location in Thailand.

To elaborate.

We've had a house in BKK for 20/21 years, built for Mum-in-Law and family. Originally quiet area is now overflown by Jumbos and the like. At 82 years old (2006) M.I.L. moved out to stay with other family down south due to noise from the overhead planes and needing constant care. Still have family in residence 'looking after' the house.

Given a choice, this residential property would not be top of anyones must-buy list due to serious aircraft noise at all hours - it has been blighted.

We no longer wish to live in this rather nice house wth gardens - it's just a little too convenient for the airport.

The land should be designated for commercial/logistics only and would probably not meet Western Health and Safety standards for hotel use, although serious sound-proofing on a new build venture may mitigate a lot of the noise.

So. The options?

We can suffer in silence until The Flying Pig (that is AOT) shows up and offers us some sort of settlement. And what are the chances of getting additional financial redress for the criminal disregard for the health of us and 3-4000 other families who should have been moved out of the danger-zone before construction? Do I really need to answer that? Or ask it!

We can join the growing band of 'desperados' and fight them on the beach-heads ; a legal fight is a worthless cause since the government and AOT shareholders are in bed together on this one, and no opponent will move that coalition, even with the law and higher beings on their side. - see Verbatim Oral Tesimony of Jeffery Race on another part of Thai Visa

Or, we can advertise on commercial property sites and perhaps on Thai Visa, possibly find a buyer at some price and move on, which is probably our leading option and hence the need for a base valuation for any negotiation.

Any other suggestions would be read with interest.

What would you do - assuming the property in question represented your family's retirement home/nest egg and you had just retired

Perhaps we'll think twice about owning property in Thailand!

[magpie3]

Perhaps I would have been better of going to the joinery shop and asking for a long stare?

[Guest Reimar]

I would prefer an objective and considered approach from an experienced practitioner, who has some technical skills for valuation as well.

Thre a lot around! If you ask your bankm they'll give you a contact no. and you can go ahead. 

The cost is about THB 3,000 - 5,000.

[magpie3]

I would prefer an objective and considered approach from an experienced practitioner, who has some technical skills for valuation as well.

Thre a lot around! If you ask your bankm they'll give you a contact no. and you can go ahead.

The cost is about THB 3,000 - 5,000.

Thankyou Reimar. I almost did so recently but hung back to see if there was any personal recommends, pitfalls or other things I should be aware of before doing so. Judging from the limited response I guess people wonder why I'm hanging around!

I suppose I was also wanting to assess what the value of the place would have been if it had not been blighted by the noise problem- ie find the devaluation too.

IF the system is anything like the UK they will partly or wholly base calculations on what other properties have sold for in the local area - with a little adjustment for the individual differences.

I am guessing now, that the noise factor will be one of those adjustments.

And guessing again that this is the least complicated and most likely procedure for comparing value.

No doubt the bank's Valuer will tell me more!

magpie3