Foreclosed Housing

[sinewave]

Do the banks in thailand have a ready list of REO's (real estate owned) by people who have defaulted on their loans?

or is there a central agency that takes care of foreclosed properties where i can find a list? National Housing Authority maybe? or are they just in chare of providing low interest loans?

any help on how to locate foreclosed properties is much appreciated...im not looking to turn a profit, just a place to live....that i can fix up, looking for something in the upper sukhumvit/ekkamai/thong lor area...or other good central locations close to BTS or MRT.

the predominantly japanese areas around sukhumvit 33-31 are also very ok!

thanks

[trogers]

The Legal Execution Department of the Thai Government holds auctions on foreclosed properties. I won the bid for a condo in Suhkumvit 24 from them last Oct.

Website is in Thai. Ask your Thai wife or gf to assist:

http://www.led.go.th/

[sinewave]

great thanks for that info !

[mark5335]

Several of the Thai banks list foreclosed properties for sale on their websites. Also the Asset Management Companies which deal in non-performing bank loans, such as Sukhumvit Asset Management, will have many properties available for sale.

[eljeque]

In Pattaya

the Siam Commercial Bank branch on Beach Road has a board with the properties it has available.

In Jomtien, on Theprasert Road, only two blocks from Thapraya Road, the connecting road on the south side leads to the government auction house. They hold auctions every week, a couple of times. There are books and a board which list all of the upcoming properties.

[Arkady]

I don't know about buying from Legal Execution Dept auctions but in the case of buying from banks you frequently have to evict the former owner yourself and may require a court order to do this. Very unpleasant. I know some one who was on the receiving end of this and only got a few days notice the bank had sold the house.

[trogers]

I don't know about buying from Legal Execution Dept auctions but in the case of buying from banks you frequently have to evict the former owner yourself and may require a court order to do this. Very unpleasant. I know some one who was on the receiving end of this and only got a few days notice the bank had sold the house.

I had this experience. Fortunately the former owner was a nice lady. I gave her 3 months to find alternative accommodation and to sell off most of her furniture and electrical equipment and even paid the maintenance fees for her stay in these 3 months. I secured the bid in Sep 2008 and transferred title in Oct. She moved out on the 3rd week of Jan 2009. No court order was necessary.

[VegasVic]

www.krungsriproperty.com is one website that always seemed to have a few REO's, most every bank in thailand usually has a list of properties.