Government House Auction

[geoffphuket]

Hi Guy's and Girl's

After many years of heartache, negotiating and court appearances, I've finally managed to get a court order to auction my ex-wife's hillside villa in Patong. If anyone's looking for the bargain of the century, then this has to be it....it's going for no more than the price of a one bed condo! Details here:

http://patongvilla.wetpaint.com/

geoffphuket

[LivinginKata]

I've bid before at one of these auctions, and although I made the high bid, it was rejected by the 'legal/registered' owner. In that particular case it was the loaning bank that obtained the court order. Seems that the present registered owner can object quite a few times (on the grounds that the bid was not high enough), and the subsequent public auctions are scheduled every 6 weeks. That's just my experience as a bidder. Maybe this does not apply in your particular case. Just a heads-up that it might not be all plain sailing for you at the first auction. I wish you the best of luck.

[taxin]

I have to say I got all excited when I read the comment "No more than the price of a 1 bed condo". That was until I seen the price of the villa !

For 5.8 million I can pick up 3 or 4 (2nd hand) one bed condos for the same price, and thats in Patong !!

Good marketing tactic though, it made me look

[Zpete]

I have to say I got all excited when I read the comment "No more than the price of a 1 bed condo". That was until I seen the price of the villa !

For 5.8 million I can pick up 3 or 4 (2nd hand) one bed condos for the same price, and thats in Patong !!

Good marketing tactic though, it made me look

Now I wont look...........lol.

[geoffphuket]

I have to say I got all excited when I read the comment "No more than the price of a 1 bed condo". That was until I seen the price of the villa !

For 5.8 million I can pick up 3 or 4 (2nd hand) one bed condos for the same price, and thats in Patong !!

Good marketing tactic though, it made me look

Hmmm, you've missed the point completely, or perhaps you didn't read my web page correctly: http://patongvilla.wetpaint.com/

The realistic market value of the property, given its position, is in the order of 15 Million Baht - and that's without any alterations or additions that I've suggested.

"Yes" you probably could buy 3 or 4 run down, dirty backstreet apartments for that money, but you're not comparing like for like

[geoffphuket]

I've bid before at one of these auctions, and although I made the high bid, it was rejected by the 'legal/registered' owner. In that particular case it was the loaning bank that obtained the court order. Seems that the present registered owner can object quite a few times (on the grounds that the bid was not high enough), and the subsequent public auctions are scheduled every 6 weeks. That's just my experience as a bidder. Maybe this does not apply in your particular case. Just a heads-up that it might not be all plain sailing for you at the first auction. I wish you the best of luck.

My ex-wife is actually trying to buy me out for just under half the bid price and cancel the auction. The proceeds would be split 50/50 between us - the lawyers and other expenses to come off that. My understanding is that because I instigated the court proceeding and auction, she has little say in the matter, but of course, this being Thailand, it's hard to predict what will happen next

Edited March 23, 2008 by geoffphuket

[LivinginKata]

My ex-wife is actually trying to buy me out for just under half the bid price and cancel the auction. The proceeds through the auction would be split 50/50 between us - the lawyers and other expenses to come off that. My understanding is that because I instigated the court proceeding and auction, she has little say in the matter, but of course, this being Thailand, it's hard to predict what will happen next

Aaahh.... in that case if your ex-wife is switched on to her legal rights then she will do everything in her legal power to defer/delay a sucessful auction. And she DOES have a big say about whether to accept (or not) the highest bid. Basically she can screw you about for quite a number of months (years even) in the hope of wearing you down to accept a lower 50/50 split. Best of luck...

[geoffphuket]

My ex-wife is actually trying to buy me out for just under half the bid price and cancel the auction. The proceeds through the auction would be split 50/50 between us - the lawyers and other expenses to come off that. My understanding is that because I instigated the court proceeding and auction, she has little say in the matter, but of course, this being Thailand, it's hard to predict what will happen next

Aaahh.... in that case if your ex-wife is switched on to her legal rights then she will do everything in her legal power to defer/delay a sucessful auction. And she DOES have a big say about whether to accept (or not) the highest bid. Basically she can screw you about for quite a number of months (years even) in the hope of wearing you down to accept a lower 50/50 split. Best of luck...

In court we originally agreed a sale price of 8 Million - to which she's legally bound and cannot get out of. However, the Legal Execution Office set the target at 7 million, with the bidding to start 20% below that. What I need is as many interested people to turn up at the auction as possible, which I'm addressing by (hopefully) having the property shown in the Phuket Gazette as a "Home of The Week" feature.

[WOOHOO]

I was always under the impression, that due to papers you sign, saying that the money for the purchase came entirely from the Thai partner, that when things went sour the farang partner would always walk away with nothing.

Can somebody elaborate on this particular law.

[LivinginKata]

I was always under the impression, that due to papers you sign, saying that the money for the purchase came entirely from the Thai partner, that when things went sour the farang partner would always walk away with nothing.

Can somebody elaborate on this particular law.

If a couple are legally married then the Farang husband does have legal rights to recover his half of the matrimonial home. But as the Farang cannot own the land then the property must be sold off to a third party (Thai) and the proceeds split 50/50.

Well ... at least that's the way I understand the law/rules.

[Sir Burr]

Looked at the link. I would say that 5.8 million is a very fair price considering that it's in Patong.

Not a fan of living on hill-sides, myself. One of these days, there's going to be a catastrophic mud-slide in the rainy season, which is going to cause loss of life.

[geoffphuket]

Looked at the link. I would say that 5.8 million is a very fair price considering that it's in Patong.

Not a fan of living on hill-sides, myself. One of these days, there's going to be a catastrophic mud-slide in the rainy season, which is going to cause loss of life.

.....And an earthquake will finish the rest of Patong off, if the next tsunami doesn't do the job first Good job I made sure the house was safely constructed. With its 30 concrete posts all set in concrete blocks in the stone bank, its not going anywhere.

It is cheap for Patong, the location and views....hopefully it won't go for the opening bid price.

[geoffphuket]

I was always under the impression, that due to papers you sign, saying that the money for the purchase came entirely from the Thai partner, that when things went sour the farang partner would always walk away with nothing.

Can somebody elaborate on this particular law.

If a couple are legally married then the Farang husband does have legal rights to recover his half of the matrimonial home. But as the Farang cannot own the land then the property must be sold off to a third party (Thai) and the proceeds split 50/50.

Well ... at least that's the way I understand the law/rules.

Quite correct. I might be wrong, but I think there's a small but significant loophole, in that no specific time scale is given for the sale, so in theory it could take Mr farang his entire lifetime to to find a buyer.

[Sir Burr]

Quite correct. I might be wrong, but I think there's a small but significant loophole, in that no specific time scale is given for the sale, so in theory it could take Mr farang his entire lifetime to to find a buyer.

Sorry; no loop-hole. You are given a year to sell it by law.

[LivinginKata]

Actually, my understanding of this rule is that the incumbant (spell ??) owner can only object 6 times = a total of 36 weeks (as court hearings every 6 weeks). Given all the other factors, then one year sounds about right..

[geoffphuket]

Actually, my understanding of this rule is that the incumbant (spell ??) owner can only object 6 times = a total of 36 weeks (as court hearings every 6 weeks). Given all the other factors, then one year sounds about right..

I stand corrected....Shows you shouldn't believe all you hear in the LOS

[geoffphuket]

For those that Pm'd me, I've just added the address of the auction office to my website, along with a map link.

http://patongvilla.wetpaint.com/

geoffphuket

[geoffphuket]

OOOps

Edited March 27, 2008 by geoffphuket

[geoffphuket]

The property's finally been added to the Legal Execution Department's Web site....for those of you who can read Thai: http://asset.led.go.th/newbid/asset_open.a...p;addrno=205/11

Please note that the price shown is a target, not the opening bid price.... I know you lot all too well, someone's sure to pick up on it

geoffphuket

[geoffphuket]

After countless e-mails and hours writing the story, the Phuket Gazette have featured my property as 'Home of the week' in the current edition - 19/4/08

[distortedlink]

After countless e-mails and hours writing the story, the Phuket Gazette have featured my property as 'Home of the week' in the current edition - 19/4/08

This article appears to be an ad from the OP himself. Not convinced.

Getting involved with financing real estate in Thailand can lead to being lumbered with a huge problem like the OP and something not easy to get rid of. If I were the OP, I would sell the place for 2 million baht, get rid of it quick, cut out the stress, absorbe his losses and throw into the dustbin of life experiences.

Read below my nightmare story:

In 1999 my English friend of 20 years, Michael, and I decided to obtain a house each in Chiang Mai and some land in Wiang Pa Pao. My friend had a Thai girlfriend, he paid for his share of his house and land to retire and live in the property after once he married his Thai girlfriend. That was the plan.

The house in Chiang Mai was built joined together as one building divided into 2 two-bedroom houses. Michael paid seperately for his 2-bedroom house and 2 rai of land in Wiang Pa Pao.

He sent the money to my brother in law who was our agent and was put into my brother in laws name because in 1999 Thai law would not permit a Thai wife married to a foreigner to own land and property in Thailand.

In 2001 my friend met another Thai girl and married her in England, 2 years after he sent money for the land and property in Thailand. Thai law changed regarding land ownership for Thai wives of foreigners and my friend asked my wife to put the real estate in her name, as he did not completely trust his new much younger wife.

In 2003 my friend's wife said that she did not want to live in the house or wanted the land my friend bought in Thailand. My friend phoned my wife requesting all his money back for what he bought in Thailand because his wife and he did not want it anymore. My wife informed him that return of money is not possible, not her responsibly but told my friend that he may sell his share if he so wishes.

In 2004 my friend with his new wife visited the police in Bangkok and told them that there is no land & house for the money that he paid my brother in law and that my wife and brother in law had cheated him.

After a slow 2-year investigation by the Bangkok police they concluded that my friend did get what he paid for and was not embezzled out of any money.

What happened to Michael, his story:

Back in 1999, my best friend, Michael, of over 20 years was introduced to a Thai lady at an engagement party in Norwich England. He was 51 she was 28. He fell in love with her immediately and over a 2-year period, the girl and her family in Keonkaen extorted over £80000 from my friend. After that the girl told him that she had a terminal disease and could not marry him, but offered her sister instead. Michael married the sister in 2001. It later transpired that the Thai girl he met in England already had an English husband in Norwich and is alive and well today.

In 2006 my friend caught his wife having an affair in Norwich. The shock was too much for him; he began walking back to his car and dropped dead in the rain into a gutter from a heart attack. He was 58.

In the end, that Thai family got £80000 of my friend's savings, his property in Buckinghamshire worth £400000 and finally even his soul. Our mutual friends and I warned Michael about this Thai group. Michael said, that if he cant find a wife, he'll buy one if necessary, but of course no one can buy true caring love. He was blind to the reality that they only wanted his money and targeted Michael because he was so desperate to get himself a wife and told them he had money and property. We fell out over this issue because Michael wouldn't listen to reason and I lost my closest friend, a soul mate of over 20 years.

As for the perjury committed against us regarding the property, no one was ever charged with anything. In the end it cost me 500000 baht in under counter payments to the police, prosecutor and I am sure that even my brother in law ripped me off to a point. At first I refused to cough up money and said let them do their worst, then my brother in law told my wife that if I don't pay, they will F—K up my visa here. We guessed that the reasons no charges were brought against Michael and his wife was because the police and the prosecutor were paid off from both sides.

There is still one year to go until the criminal case expires, because Michael failed to continue with it and is now frozen in the police station. But the property is now caught up in a catch 22 because Michael's wife will not produce Michael's death certificate to the police in case they get arrested for perjury and the police say, my wife and I cannot sell until the criminal case expires. After the criminal case expires we than have to continue on and go to civil court, which can take up to 6 years. If we sell before, Michael's Thai family can start all over again by suing us for cheating them and keeping the proceeds of the property.

Over the last few years we have sent letters to my friend and his wife asking them to visit Thailand and sort out their real estate that is still in my wife's name. All our correspondences have been ignored.

So now I have written off the property as a loss, almost 2 million baht. It stands there in disrepair. I wont go near the place anymore.

At this time I cant give it away. Dont care about the money, just want all this behind me.

So for anyone considering doing the same, take heed from other`s mistakes.

[LivinginKata]

distortedlink,

your experience is quite common. So so many 'older' farangs get cheated out of their life savings. One would think that caution would be the watch word, but no .... the guys rush in without too much thought. All reading this should take care...

[geoffphuket]

After countless e-mails and hours writing the story, the Phuket Gazette have featured my property as 'Home of the week' in the current edition - 19/4/08

This article appears to be an ad from the OP himself. Not convinced.

Getting involved with financing real estate in Thailand can lead to being lumbered with a huge problem like the OP and something not easy to get rid of. If I were the OP, I would sell the place for 2 million baht, get rid of it quick, cut out the stress, absorbe his losses and throw into the dustbin of life experiences.

Read below my nightmare story:

In 1999 my English friend of 20 years, Michael, and I decided to obtain a house each in Chiang Mai and some land in Wiang Pa Pao. My friend had a Thai girlfriend, he paid for his share of his house and land to retire and live in the property after once he married his Thai girlfriend. That was the plan.

The house in Chiang Mai was built joined together as one building divided into 2 two-bedroom houses. Michael paid seperately for his 2-bedroom house and 2 rai of land in Wiang Pa Pao.

He sent the money to my brother in law who was our agent and was put into my brother in laws name because in 1999 Thai law would not permit a Thai wife married to a foreigner to own land and property in Thailand.

In 2001 my friend met another Thai girl and married her in England, 2 years after he sent money for the land and property in Thailand. Thai law changed regarding land ownership for Thai wives of foreigners and my friend asked my wife to put the real estate in her name, as he did not completely trust his new much younger wife.

In 2003 my friend's wife said that she did not want to live in the house or wanted the land my friend bought in Thailand. My friend phoned my wife requesting all his money back for what he bought in Thailand because his wife and he did not want it anymore. My wife informed him that return of money is not possible, not her responsibly but told my friend that he may sell his share if he so wishes.

In 2004 my friend with his new wife visited the police in Bangkok and told them that there is no land & house for the money that he paid my brother in law and that my wife and brother in law had cheated him.

After a slow 2-year investigation by the Bangkok police they concluded that my friend did get what he paid for and was not embezzled out of any money.

What happened to Michael, his story:

Back in 1999, my best friend, Michael, of over 20 years was introduced to a Thai lady at an engagement party in Norwich England. He was 51 she was 28. He fell in love with her immediately and over a 2-year period, the girl and her family in Keonkaen extorted over £80000 from my friend. After that the girl told him that she had a terminal disease and could not marry him, but offered her sister instead. Michael married the sister in 2001. It later transpired that the Thai girl he met in England already had an English husband in Norwich and is alive and well today.

In 2006 my friend caught his wife having an affair in Norwich. The shock was too much for him; he began walking back to his car and dropped dead in the rain into a gutter from a heart attack. He was 58.

In the end, that Thai family got £80000 of my friend's savings, his property in Buckinghamshire worth £400000 and finally even his soul. Our mutual friends and I warned Michael about this Thai group. Michael said, that if he cant find a wife, he'll buy one if necessary, but of course no one can buy true caring love. He was blind to the reality that they only wanted his money and targeted Michael because he was so desperate to get himself a wife and told them he had money and property. We fell out over this issue because Michael wouldn't listen to reason and I lost my closest friend, a soul mate of over 20 years.

As for the perjury committed against us regarding the property, no one was ever charged with anything. In the end it cost me 500000 baht in under counter payments to the police, prosecutor and I am sure that even my brother in law ripped me off to a point. At first I refused to cough up money and said let them do their worst, then my brother in law told my wife that if I don't pay, they will F—K up my visa here. We guessed that the reasons no charges were brought against Michael and his wife was because the police and the prosecutor were paid off from both sides.

There is still one year to go until the criminal case expires, because Michael failed to continue with it and is now frozen in the police station. But the property is now caught up in a catch 22 because Michael's wife will not produce Michael's death certificate to the police in case they get arrested for perjury and the police say, my wife and I cannot sell until the criminal case expires. After the criminal case expires we than have to continue on and go to civil court, which can take up to 6 years. If we sell before, Michael's Thai family can start all over again by suing us for cheating them and keeping the proceeds of the property.

Over the last few years we have sent letters to my friend and his wife asking them to visit Thailand and sort out their real estate that is still in my wife's name. All our correspondences have been ignored.

So now I have written off the property as a loss, almost 2 million baht. It stands there in disrepair. I wont go near the place anymore.

At this time I cant give it away. Dont care about the money, just want all this behind me.

So for anyone considering doing the same, take heed from other`s mistakes.

The Phuket Gazette feature a 'home of the week' every week. Maybe you've never bought or seen a copy? My article was offered free of charge by the editor. it was NOT placed as an advertisement. Second point, I'm sorry to hear of your story and can understand why you post a reply of this nature, but not all of us are losers.... I'm merely retrieving what the Thai law entitles me to.

[LivinLOS]

Just emphasizes my point about how illiquid houses are here as an asset..

I know of 2 other homes within 300m of the one featred there for sale, also at deep discount to 'market rates' and both on the market for 3+ years.

[geoffphuket]

Just emphasizes my point about how illiquid houses are here as an asset..

I know of 2 other homes within 300m of the one featred there for sale, also at deep discount to 'market rates' and both on the market for 3+ years.

I can beat that. I've actually been trying to sell the house for the past 8 years - that's why its now going to a government auction for considerably less than its worth

[LivinLOS]

I hate to point this out.. But surely its 'worth' only what someone will pay for it..

[geoffphuket]

I hate to point this out.. But surely its 'worth' only what someone will pay for it..

Someone actually offered 11 million during the court proceedings last year, but my ex refused because she didn't want to sell. Now she'll have to make do with a fraction of that. Personally I'm not worried what it sells for - I just want to close the book on this sad chapter of my life.

[geoffphuket]

Big day tomorrow (1st May). Just want to thank all those that posted comments...even the negative ones

I'll keep this thread updated to let you all know how it went

geoffphuket

Edited April 30, 2008 by geoffphuket

[LivinLOS]

So how much did you get ??

[geoffphuket]

So how much did you get ??

Sad to say it didn't meet the opening bid price. It's going for auction again next week (15th May) ...and the week after if it still hasn't sold. Each time the price is reducing by 20%. The opening bid price will be approx' 4,480,000 Baht and If I had the money to spare I'd buy it myself, repaint it white as it used to be, finish the swimming pool and resell it for twice the amount. Mai pen rai !