Bank Property

[Bizz]

Banks in Thailand have property for sale.Forclosures Auctions ect i can find lots of sites but all in Thai any one got URLs in English and also your comments on buying property.

[ajahnlau]

Banks in Thailand have property for sale.Forclosures Auctions ect i can find lots of sites but all in Thai any one got URLs in English and also your comments on buying property.

 

<{POST_SNAPBACK}>

Best bet is to go to the banks in the city where you live or want to live. There are some good deals on foreclosures but do some real checking in neighborhood to find some similar prop. to compare cost. Some hard sell prop. one might get a loan.

[sajal]

Banks in Thailand have property for sale.Forclosures Auctions ect i can find lots of sites but all in Thai any one got URLs in English and also your comments on buying property.

 

<{POST_SNAPBACK}>

even if they do have the english websites, by the time they update the english page, the property will probably be gone.

[IMA_FARANG]

Banks in Thailand have property for sale.Forclosures Auctions ect i can find lots of sites but all in Thai any one got URLs in English and also your comments on buying property.

 

<{POST_SNAPBACK}>

I know for sure you can get a printed sheet (with photos & telephone numbers) at Bangkok Bank of their properties for sale (foreclosures) but it is in Thai. So if you can't read Thai you will need a translator. I got mine through Bangkok Bank Sukhumvit Soi 43 branch. Don't know what it is like to actually try to purchase any property via that method however. Believe that it is updated every now and then, but not sure if it is monthly or quarterly.

[pnustedt]

Last year I (my wife) tried to buy some land which a local bank in Sisaket was foreclosing on. As we went to pay for it the original owner paid off the debt and the sale was withdrawn.

[Bizz]

Anyone any experience doing this.

Your comments and advice would be appreciated

[mandl]

Here's a link to Kasikorn Bank. It's the only one I've found in English. Bangkok Bank has one but it's in Thai.

This one doesn't seem to be updated very often though, but for what it's worth:

http://www.kasikornbank.com/PropertyForSal...,0-EN-1,00.html

I haven't any experience with trying to purchase these properties, only browsing through them.

[craigt3365]

Wow! The prices on that web site are quite expensive. What do others think?

[Thetyim]

Yes I have done it.

I bought a very nice house from the Krung Thai bank.

PM me if you want details.

Have a search for a thread started by GuestHouse, he has bought thru a bank as well

[Oleg_Rus]

Yes I have done it.

I bought a very nice house from the Krung Thai bank.

<{POST_SNAPBACK}>

I tried at Bangkok Bank auction - really good offers on the second part of the auction. But my problem was - I had to declare my money came with purpose to purchare property, from my account abroad.

how to deal in such situation? also, couldn't get any financing too.

[selftaopath]

Here's a link to Kasikorn Bank. It's the only one I've found in English. Bangkok Bank has one but it's in Thai.

This one doesn't seem to be updated very often though, but for what it's worth:

http://www.kasikornbank.com/PropertyForSal...,0-EN-1,00.html

I haven't any experience with trying to purchase these properties, only browsing through them.

Thanks for this, but I am not sure if it is a current link. I was unable to open/link to it?

Keoki

[GuestHouse]

Wow! The prices on that web site are quite expensive. What do others think?

Yep - Prices have shot up over the last five years.

We bought a 10 Rai piece of river front land for Bht4million, but that was at the hight of the ecconomic woes when the banks just could not get rid of the property they had on their books. Back then all the banks had large amounts of land, some extremely good value for sale. The property boom put an end to that - I made PDF Copies of the Bank Website Pages during the time we were searching, a year or so ago I came across these and went back to the same pages to see what land was like and how the prices had changed.

It wasn't so much the price changes that struck me as the total absense of any land that could take more than one house, and all the single house size land was in pretty poor locations. Clearly all the best land had been snapped up in the boom.

An Important Point to Note

The bank does not take the land off the debtor - The Courts do.

The Courts take the land in a court action and then the Courts auction the land with the intention of splitting the proceeds between the bank (too pay off the debt) and the debtor, who receives the residue minus charges.

The only time the banks get the land is if they (the bank) buy the land in the Court Action. This happens when the Court cannot sell the land and reduces the price, they keep trying to sell the land (reducing the price each time) until either someone buys the land or the bank steps in to ensure that it does not loose money in the sale.

So the lesson is Take a day out to the Court office and have a look what land they have on the Court books - What the banks have is the dross.

Edited August 2, 2008 by GuestHouse

[chiangmaibruce]

Guesthouse, Was most interested to read your post. Would you be able to provide a few more details please?

1. Is this a special type of court, ie. what would you ask for? District Court, Local Court (not sure what the terminology is here)

2. I assume this is a job where you would definitely need a Thai (missus) along to help out (?)

3. Once you get to the court is there a special office, counter, noticeboard, etc?

4. So none of the properties in the bank brochures would also be listed at the Court? ie. they are separate pools of properties (although the banks bought theirs at court previously)

5. With the court properties is there is a listed price or do they only sell via auction or both options available (?)

6 If buying via the courth are there any special rules applying to foreigners (apart from the normal Thai property ownership laws)

Thanks

- CB

[GuestHouse]

Guesthouse, Was most interested to read your post. Would you be able to provide a few more details please?

1. Is this a special type of court, ie. what would you ask for? District Court, Local Court (not sure what the terminology is here)

We found our land at the District Court in the Provincial Capital - but then our land is in the provincial capital, so I can't be sure if this dicatates which court you should go to. Ask around a few Thais they'll know (but don't get them involved in your purchase - If you want to buy in Town A, go ask how to go about it in Town B and then do it yourself in Town A)

2. I assume this is a job where you would definitely need a Thai (missus) along to help out (?)

No, I went to the court myself and found the land myself - I am a Thai speaker, but I think you could manage with help from the court staff.

3. Once you get to the court is there a special office, counter, noticeboard, etc?

They have both, they have a notice board in the court and an assets clearence office - ask a the court

4. So none of the properties in the bank brochures would also be listed at the Court? ie. they are separate pools of properties (although the banks bought theirs at court previously)

Correct

5. With the court properties is there is a listed price or do they only sell via auction or both options available (?)

They sell by auction, the start price is stated and you can ask at the Assets Clearance Office to find the price - You can also make a bid prior to the auction if you wish but it will not be accepted until the auction date.

6 If buying via the courth are there any special rules applying to foreigners (apart from the normal Thai property ownership laws)

None at all - You as a foreigner cannot buy land - Period.

Thanks

- CB