Bank Properties/auctions In Phuket

[WOOHOO]

Could someone please point me in the right direction, if you were looking to buy a property from the banks in Phuket. On their web sites there is an abundance of property in all other areas, obviously most of it in BKK, but nothing in Phuket. When you go in to the branches they tell you they have no listings to give you. Do they all get sold in non advertised auctions? Or is it the case that the market is just so different in Phuket that they just don't have much for sale here. Any info appreciated.

[WOOHOO]

Just an after thought. I might get more joy with this in the Phuket forum. I know you're not supposed to post the same post twice, so could the mod of this forum work his magic and transfer it over for me please.

[katabeachbum]

Not much property finance in Phuket. Not many forced sales

[LivinLOS]

Is that true KBB ???

I always heard there was quite a lot, but in the low end stuff.. The 2 - 4 mil kinda Thai homes.. Also land..

I know an expat whose left the island who got a couple at auction many years back.. I have often heard of these mystery auctions and lists but never seen real info..

[katabeachbum]

Is that true KBB ???

I always heard there was quite a lot, but in the low end stuff.. The 2 - 4 mil kinda Thai homes.. Also land..

I know an expat whose left the island who got a couple at auction many years back.. I have often heard of these mystery auctions and lists but never seen real info..

Bank finance available in projects like Land & House, and as you say low end 1,5-4 mill baht. But for thais only. Banks are struggeling to make money in Phuket, cause the home loan volume is so small.

[logbags]

You never hear of these auctions as any bargains are flogged off to family and friends of officials either in the land department or bank. My niece bought a 3 storey shophouse on the main road to Chalong and Rawai for 1.3 million baht. She only had to pay what the bank was owed on the loan.

My nephew was an official in the land department at the time and heard from the bank the property was to be repossessed. He made the offer to pay out the loan and they said no problem. It is now leased at 10,000 a month.

[HDRIDER]

Hi

I got a Thai friend there got the listings from a bank, cant remember what bank, i remember there was quiet a lot of houses in the listing from phuket, this is about 3 years ago

[KarenBravo]

I know a Brit that picked up nine rai for less than a million a rai from a bank sale. The land is over near Mission Hills.

[WOOHOO]

Thanks for the replies. It was the low end market I was looking at. I've always wanted to buy a real Thai style home, the single storey, detached, one narrow block style, then spend a fair bit of money on it. Maybe add a second storey. I'll end up with a house I'll like a lot more than one that was built for Farang in the first place, and in the kind of street I want to live in and maybe at a cheaper cost. Although it's not a real bargain price I'm after, I would always expect those to be snapped up by connected people, just the going rate for a Thai spec home.

[katabeachbum]

Thanks for the replies. It was the low end market I was looking at. I've always wanted to buy a real Thai style home, the single storey, detached, one narrow block style, then spend a fair bit of money on it. Maybe add a second storey. I'll end up with a house I'll like a lot more than one that was built for Farang in the first place, and in the kind of street I want to live in and maybe at a cheaper cost. Although it's not a real bargain price I'm after, I would always expect those to be snapped up by connected people, just the going rate for a Thai spec home.

the structure is for one storey(columns 15x15 with 4 rebars 12 mm), so add the weight of a second storey and it all falls apart

[WOOHOO]

the structure is for one storey(columns 15x15 with 4 rebars 12 mm), so add the weight of a second storey and it all falls apart

I thought there was always ways, of making new or strengthening old foundations. Another option, was to live in the house as is for a couple of years then pull down, start again from scratch. To be honest it's the streets the Thai houses are in that appeal to me, I'm not a huge fan of Moo Bahns.

[KarenBravo]

I'm not a huge fan of Moo Bahns.

That's unfortunate, because I garuantee you're living in one right now.

Do you mean an housing estate, or housing project?

[WOOHOO]

That's unfortunate, because I garuantee you're living in one right now.

Do you mean an housing estate, or housing project?

As well as meaning village, I have always thought that 'Moo Bahn' with the name of the estate tagged on to the end was how you referred to housing estates, or housing projects.

In the context of what I was saying, I thought not adding the name of an estate on the end, that it would still be clear as to what I was referring. Apologies for any misunderstanding.

[KarenBravo]

A Moo Bahn is the smallest administrative unit. Next one up is Tambon, then Umpur.

[WOOHOO]

A Moo Bahn is the smallest administrative unit. Next one up is Tambon, then Umpur.

That sounds about right to me. Sometimes though, language goes further than the literal translation, and things can mean more than one thing depending on context. However on this occasion you are probably right, I probably didn't use the correct term and what I meant, perhaps, wasn't clear.

[katabeachbum]

A Moo Bahn is the smallest administrative unit. Next one up is Tambon, then Umpur.

That sounds about right to me. Sometimes though, language goes further than the literal translation, and things can mean more than one thing depending on context. However on this occasion you are probably right, I probably didn't use the correct term and what I meant, perhaps, wasn't clear.

Every Tambor is divided into a number of Moo Baan, usually called just Moo, and every Moo has a Pujai Baan elected by the registered residents. Their boss is Kamnan elected by Tambors registered residents.

I have sometimes recieved jokes from the locals about making a Moo Baan, even if it consists of just 30sh properties. Legally its still within the same Moo, but locals consider it a separate Moo Baan. Typical for a gated estate with private roads.

[Noodle1966]

Hello there, ok plenty of low end property in Phuket around the 2 to 4 million baht stuff might not be in the best areas but they are there, as for auctions I lived here for 15 years and the only auctions I have attended are for motor vehicles, so dont be dissapointed plenty of houses for sale and at this present time plenty of bargains to be had many people hurting especially the property developers.

So have a look around for yourself before you listen to too many comments on here.

Cheers

Noodle

Is that true KBB ???

I always heard there was quite a lot, but in the low end stuff.. The 2 - 4 mil kinda Thai homes.. Also land..

I know an expat whose left the island who got a couple at auction many years back.. I have often heard of these mystery auctions and lists but never seen real info..

[chiang mai]

Take a trip to the Central Mall in Phuket, there's a company there with a display set up that details repo's from all the banks, there's a sh*t load of them, but nothing that I reckon I would want to buy, mostly all very run down places.

[WOOHOO]

Hello there, ok plenty of low end property in Phuket around the 2 to 4 million baht stuff might not be in the best areas but they are there, as for auctions I lived here for 15 years and the only auctions I have attended are for motor vehicles, so dont be dissapointed plenty of houses for sale and at this present time plenty of bargains to be had many people hurting especially the property developers.

So have a look around for yourself before you listen to too many comments on here.

Cheers

Noodle

Thanks mate. I guessed they would have to be out there, it's just finding them is all. The kind of houses I like will undoubtedly, nearly all be owned by Thais. So where do Thai people sell their houses when they decide to move on? I know they put home made signs on the gate, but you don't see too many of them.

As for second stories, am I not right in thinking that it's always possible one way or another? I would guess the only exception would be if the ground was just too marshy to take any more weight.

[WOOHOO]

Take a trip to the Central Mall in Phuket, there's a company there with a display set up that details repo's from all the banks, there's a sh*t load of them, but nothing that I reckon I would want to buy, mostly all very run down places.

Sounds interesting. Is it a proper shop or a stall type affair? Remember the name?

The houses I'm interested in, most people would agree with you, and wouldn't touch them with a barge pole. I'm interested mainly in the street the house is on, then after that, a run down house to me, will be a blank canvas, to try and make the kind of home I want. I've never really fancied buying land and starting completely from scratch. Buying old and run down then renovating seems the way to go. Probably very naive but, I'm going to give it a go none the less.

[chiang mai]

Sounds interesting. Is it a proper shop or a stall type affair? Remember the name?

The houses I'm interested in, most people would agree with you, and wouldn't touch them with a barge pole. I'm interested mainly in the street the house is on, then after that, a run down house to me, will be a blank canvas, to try and make the kind of home I want. I've never really fancied buying land and starting completely from scratch. Buying old and run down then renovating seems the way to go. Probably very naive but, I'm going to give it a go none the less.

It's a stall/display set up but quite large, typically that sort of guest business only stays around in the mall for a few days at best, I'll be down there again tomorrow so I'll try and find out more details and PM you.

[LivinLOS]

Take a trip to the Central Mall in Phuket, there's a company there with a display set up that details repo's from all the banks, there's a sh*t load of them, but nothing that I reckon I would want to buy, mostly all very run down places.

Sounds interesting. Is it a proper shop or a stall type affair? Remember the name?

The houses I'm interested in, most people would agree with you, and wouldn't touch them with a barge pole. I'm interested mainly in the street the house is on, then after that, a run down house to me, will be a blank canvas, to try and make the kind of home I want. I've never really fancied buying land and starting completely from scratch. Buying old and run down then renovating seems the way to go. Probably very naive but, I'm going to give it a go none the less.

Case very often of 'polishing a turd' in that you can put in huge man hours and fair money.. And your still left with a thai home, thai wiring, thai base that you started with..

For me blank canvas means doing it right from the outset, good heat resistance, sensible design, good basics like water and electric system.. Nothing wrong with a 'build as you go' plan where the house has planned from the outset the ability to extend.

EDIT:: Also in terms of resale and value after investment, you almost always do better having the worst house in a good area then having the best house in a bad area.

Edited February 25, 2010 by LivinLOS

[chiang mai]

Take a trip to the Central Mall in Phuket, there's a company there with a display set up that details repo's from all the banks, there's a sh*t load of them, but nothing that I reckon I would want to buy, mostly all very run down places.

Sounds interesting. Is it a proper shop or a stall type affair? Remember the name?

The houses I'm interested in, most people would agree with you, and wouldn't touch them with a barge pole. I'm interested mainly in the street the house is on, then after that, a run down house to me, will be a blank canvas, to try and make the kind of home I want. I've never really fancied buying land and starting completely from scratch. Buying old and run down then renovating seems the way to go. Probably very naive but, I'm going to give it a go none the less.

Case very often of 'polishing a turd' in that you can put in huge man hours and fair money.. And your still left with a thai home, thai wiring, thai base that you started with..

For me blank canvas means doing it right from the outset, good heat resistance, sensible design, good basics like water and electric system.. Nothing wrong with a 'build as you go' plan where the house has planned from the outset the ability to extend.

EDIT:: Also in terms of resale and value after investment, you almost always do better having the worst house in a good area then having the best house in a bad area.

I would have to agree.

[Benjie]

I've often thought about renovating, You already have the address book, household registration, electric and water etc...

It's not that difficult to rewire a Thai place, rip the electric cables off the wall and run them in the wall.

[LivinLOS]

I've often thought about renovating, You already have the address book, household registration, electric and water etc...

It's not that difficult to rewire a Thai place, rip the electric cables off the wall and run them in the wall.

No but its a lot hard to fix the poor drainage, the 'too light' foundation beams, the lack of pilings and built on footings, etc etc..

Look, I am not saying its impossible.. But it would have to be a REALLY great location for me to think about it..

Also in some discussion I have had I have realized something on the Thai mindset, to them (as I think most would agree) the value is in the land, the home is often not considered with the same permanence we as westerners have attached to buildings, back as a kid I lived a 1700's or so couch house, we renovated an 1880's barn conversion, etc. I think thais look at it as 'build it now' rip it down in 30 years and do it again, that mindset is probably changing with moobaans and higher cost homes but that kind of thinking is more common to them than it is to us and I bet has some bearing on the 30 year lease mindsets (the whys not the details).

[Benjie]

Yes I'm talking more of a cosmetic remodel TBH. I wouldn't want to be adding floors etc...

[WOOHOO]

Case very often of 'polishing a turd' in that you can put in huge man hours and fair money.. And your still left with a thai home, thai wiring, thai base that you started with..

For me blank canvas means doing it right from the outset, good heat resistance, sensible design, good basics like water and electric system.. Nothing wrong with a 'build as you go' plan where the house has planned from the outset the ability to extend.

EDIT:: Also in terms of resale and value after investment, you almost always do better having the worst house in a good area then having the best house in a bad area.

I can understand where you're coming from, but everyones needs are different. You've mentioned before how much money you put in to your stereos, home entertainment etc. and things like a pool are a must for you. Our needs are fairly simple. I can't live without off street parking, and must have a some space to sit outside and BBQ, other than that it's a case of having somewhere to sit and watch TV and somewhere to sleep. We're out and about most days. Don't get me wrong, I'm not some sort of hippie that doesn't require all the the things that you hanker after, (and get) I just try to get the balance right for myself and my family. Given the choice of a 2k stereo or a month in the sun spending quality time with my family, then unfortunately the stereo looses every time. I'm still young enough to have both one day. As for what you said about re sale, (not that that would really be a factor, loosing a bit of money to be happy with your home is ok with me) but that was kind of the idea. Having a Thai spec home somewhere decent apposed to having a mansion in the middle of nowhere.

Edited February 25, 2010 by WOOHOO

[WOOHOO]

that mindset is probably changing with moobaans and higher cost homes

So is it OK to call large housing estates, Moobaans or not? When I was getting lectured in local government terminology earlier, no one took the time to clarify.

[LivinLOS]

I can understand where you're coming from, but everyones needs are different. You've mentioned before how much money you put in to your stereos, home entertainment etc. and things like a pool are a must for you. Our needs are fairly simple. I can't live without off street parking, and must have a some space to sit outside and BBQ, other than that it's a case of having somewhere to sit and watch TV and somewhere to sleep. We're out and about most days. Don't get me wrong, I'm not some sort of hippie that doesn't require all the the things that you hanker after, (and get) I just try to get the balance right for myself and my family

I understand the point of view.. I just think you end up with a higher return by getting it right first time, and even planning to add to the dwelling, designing it to be extended or to have separate buildings (bali style) in one home.. It could have a smallish main dwelling built now, adding to it as money allowed and family grew.

I would also be mildly cautious about a moo baan home, owned by a farang, that you might leave for months a year, as it presents prime break in temptation.

[WOOHOO]

I understand the point of view.. I just think you end up with a higher return by getting it right first time, and even planning to add to the dwelling, designing it to be extended or to have separate buildings (bali style) in one home.. It could have a smallish main dwelling built now, adding to it as money allowed and family grew.

I'm sure you're right mate, but as you well know our budgets couldn't be more different. You'll be renting a high end property, at the same time as paying to have your own, high end, house built! That's not quite where I'm at financially! The way I hope to do it, I'll have somewhere, that's basic but comfortable to live straight away, and improve it as and when money is available to do so. Baring in mind I will be taking a good couple of steps backward, size and standard wise, from the house I rent now. But as far as I'm concerned, that's a sacrifice compensated by actually owning your own bit of Phuket dirt for the first time.