simey Posted August 3, 2010 Share Posted August 3, 2010 I own a villa (and rent the land of course) in Koh Samui, and for legal reasons I need to get the thing valued at a real price, i.e. what I could get for it if I were to sell it in the next 3 months. There are plenty of estate agents, but I can't seem to get a valuation out of them. Anyone had experience of getting something valued? Link to comment Share on other sites More sharing options...
taninthai Posted August 3, 2010 Share Posted August 3, 2010 from the varying prices i have seen over here i did not think they valued property out here my imppressions are stick a sky high price on it and see if a gullible fool comes along and pays it without haggling.................................. Link to comment Share on other sites More sharing options...
eljeque Posted August 4, 2010 Share Posted August 4, 2010 The next buyer is the one who will value it. Property in the foreigner areas of Thailand, (Pattaya, Samui, Phuket) are like rare little animals, but not so rare as to be valuable. The property is not a commodity which has an easily accessible sale price, one at which thousands are sold every year. It is worth what the next man will pay for it. That next man is found by the buyer working his ass off for a long period of time with amny agents, many bulleting boards, many internet sites, many forums, a lot of local word of mouth, etc. Best of luck. Link to comment Share on other sites More sharing options...
garrfeild Posted August 4, 2010 Share Posted August 4, 2010 You could try going to a bank and asking them how much they would lend to you with the property as security. That is assuming you have a shanot on the property and land. they would, I imagine be able to tell you the percentage in relation to their valuation of the property the amount they would lend. Link to comment Share on other sites More sharing options...
simey Posted August 4, 2010 Author Share Posted August 4, 2010 I contacted CBRE in Bangkok and they said they could value it, for a mere 110,000 baht, plus 40,000 for the physical visit and 7% VAT. Thats not a bad way to make money. Link to comment Share on other sites More sharing options...
taninthai Posted August 4, 2010 Share Posted August 4, 2010 I contacted CBRE in Bangkok and they said they could value it, for a mere 110,000 baht, plus 40,000 for the physical visit and 7% VAT. Thats not a bad way to make money. 3,000 gbp plus vat id tell them to take a run and jump. i think the only way to value it is if you built it yourself and you know how much it all added up to this is the only way to get the real value, but then it still does not mean it could be sold st that price because it is on rented land and not many people would buy a house on rented land. ive heard people talk about when building places the cost is worked out per sqm you need to find out the approx sqm price for a property like yours then you could work out approx value from this. good luck Link to comment Share on other sites More sharing options...
trogers Posted August 4, 2010 Share Posted August 4, 2010 I contacted CBRE in Bangkok and they said they could value it, for a mere 110,000 baht, plus 40,000 for the physical visit and 7% VAT. Thats not a bad way to make money. Save the money. Do your own valuation using the comparative method. All you need to do is to find out the prices villas have been bought and sold in the last 6 months. A good source would be an official in the local Land dept. Then choose the villa of closest design and size to yours. Make adjustment for land cost vs lease. CBRE would use these same method to give you a value. Link to comment Share on other sites More sharing options...
johnnyk Posted August 4, 2010 Share Posted August 4, 2010 Or go around and look in agents' windows to see what comparable properties are listed at re: size, location, amenities, infrastructure and so on. It should become apparent which are priced ridiculously and those priced fairly and competitively. I don't think you need to be overly precise. Good luck. Link to comment Share on other sites More sharing options...
powderpuff Posted August 4, 2010 Share Posted August 4, 2010 Go down to the land office. They will tell you what it is worth. For free. Link to comment Share on other sites More sharing options...
quiksilva Posted August 5, 2010 Share Posted August 5, 2010 I contacted CBRE in Bangkok and they said they could value it, for a mere 110,000 baht, plus 40,000 for the physical visit and 7% VAT. Thats not a bad way to make money. Just sounds like they didn't want to do the job. Link to comment Share on other sites More sharing options...
quiksilva Posted August 5, 2010 Share Posted August 5, 2010 Go down to the land office. They will tell you what it is worth. For free. They will use their figures which are not a reflection market value. Usually WAY off. Link to comment Share on other sites More sharing options...
ESB7 Posted August 5, 2010 Share Posted August 5, 2010 Are you asking just for a valuation? or are you telling agents you want them to list your property....Agents work the same as anyone else, for money......if you are just asking for a valuation, why would an agent spend time and money on gasoline just to give you a value and then not even get a chance at selling your property and making money............If I was still an angent I certainly wouldnt waste my time with you.....if you want listing, thats a different story.... Why dont you look in the agents windows and magazines, you will get an idea of the value by seeing what price similar properties are listed at. In all honesty, Samui, Vila and only on a leasehold basis.....probably not worth wasting your time as there isnt a market for that kind of property, unless of course it is something really speacial like beachfront with infinity pool etc Link to comment Share on other sites More sharing options...
quiksilva Posted August 6, 2010 Share Posted August 6, 2010 (edited) Well actually valuation can be a very good business model. Professional firms know that they can not sell a property and carry out the valuation work and maintain their credibility. Its a conflict of interest (they could set a low price so as to sell it easier etc) and besides which it contravenes SEC regulations, which could result in the loss of the firm's valuation licencse. Also sometimes for whatever reason (work load too full, prefer to do the sale etc) they may quote a high price so as to purposefully not get the job without saying no. Most formal valuations require a physical inspection (unless other wise stated and agreed) so if their office is not nearby they will charge for travel expenses and time, which can be result in higher fees, but still even then this fee does sound high for a single home. Edited August 6, 2010 by quiksilva Link to comment Share on other sites More sharing options...
huawei Posted August 7, 2010 Share Posted August 7, 2010 www.area.co.th Did a valuation for me a few years back. One copy in English and one in Thai. Standard valuaion methods used. Link to comment Share on other sites More sharing options...
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