Pink I.D Card & Yellow Book

[Jobo]

Does anybody know of a firm which can appraise land values and produce a realistic/accurate value for a piece of land in Chiang Mai?

Going to a real estate agent produces only .... "how much do you want for it"?

I want to sell some land but have no idea of it's true market value.

[Rama]

Centrury 21 does free land valuations. They don't ask how much do you want for it. www.century21Lanna.com

[pete66]

Presuming you aren't Thai ..... you are very lucky to "own" any land.

[Thighlander]

5-10K per wah in a mooban.

[WinnieTheKhwai]

Tell us exactly where it is and how big then I bet we can get close. (GPS coordinates, and if it's out of town then also mention if there us electricity and water)

[veryruay]

I assumed the land don't belongs to OP. But maybe the wifey's name . Non Thai cannot own land in Thailand, and this is for sure!

Presuming you aren't Thai ..... you are very lucky to "own" any land.

[MrBrad]

I assumed the land don't belongs to OP. But maybe the wifey's name . Non Thai cannot own land in Thailand, and this is for sure!

Presuming you aren't Thai ..... you are very lucky to "own" any land.

What does either of these responses have to do with the OP's question? It's a well-known fact that foreigners cannot own land exclusively. He's asking how to obtain a fair or accurate value for a parcel of land that he (and/or others) are wanting to sell.

[Priceless]

5-10K per wah in a mooban.

Depends VERY much on which moo baan. In the one where I rent a house it is closer to 25K per talang wah.

/ Priceless

[lannarebirth]

Does anybody know of a firm which can appraise land values and produce a realistic/accurate value for a piece of land in Chiang Mai?

Going to a real estate agent produces only .... "how much do you want for it"?

I want to sell some land but have no idea of it's true market value.

Most ( by most I mean all) people here have no idea how to value land. I suggest you do what i did, Starting about 10 years ago I used to go out and look at land everyday. Before I bought my first piece of land I'd already seen over 300 pieces of land (I've looked at 300 more since) and had created my own valuation system. That is what i suggest you do. if you're not willing to do that i suggest you just dump it for whatever you can get and move to a palce where you do understand land valuations.

[Mapguy]

Check at your local bank to identify a professional assessor. They work for the banks. Not very expensive.

[lannarebirth]

Check at your local bank to identify a professional assessor. They work for the banks. Not very expensive.

Nor are they very competent. If it suits your needs then go ahead, but I sure wouldn't. I've never met an appraiser here that didn't value properties more highly than I did. I never met one also, who owned more properties than I do. If you're a seller however they will give you an appropriate appraisal for a "commission". I've just never done business that way.

[Mapguy]

Well, I guess I have been fortunate in my experience. I, like Lannarebirth, have also sniffed around quite a bit, but my area of concentration I am certain is smaller than his. Accordingly, I was able to compare my own assessments with the professional ones. The more information the better. It does take a while.

[WinnieTheKhwai]

I could also add that there really is no clear 'standard' or commonly accepted methodology or even guideline to value land.

The closest thing to a standard is what they do at the land department or the agricultural bank where they issue loans based on the value of the land. But those valuations tend to be WAY below what people want to sell for, and what people are prepared to pay.

And, in this topic we don't even know yet if this is about dozens of rai of farmland, or a plot in a housing development, or a prime city location. Somewhat reasonable valuations happen for farmland, just based on a couple common sense factors, such as if it's flat, has good road access, water, the type of ownership documents and so on.

More often than not though land gets valued based on the sellers wildest hallucination, and only comes down when the seller really needs money.

Final point: Westerners who buy land to build a nice house and retire will value things very differently from a Thai farmer who is looking at land based on the type of crops he can grow, and how many of them and so on. So it's good to keep in mind that 'scenic views' don't cost extra, usually, unless of course it's in an area such as the Mae Sa Valley where tourism and resort builders have skewed prices.

Final tip: you could look at the land that is being sold by banks and real estate agents, and look at prices of comparable plots. I do think that those prices tend to be too high most of the time, so if you want a quick sale then you need to go a bit lower than those.

[veryruay]

Before you make any accusation, please read what the OP asked!!

I want to sell some land but have no idea of it's true market value.

Of course we were puzzled how and when a non Thai can own a land? So what is wrong with our comment then, Smart Alec!!!

I assumed the land don't belongs to OP. But maybe the wifey's name . Non Thai cannot own land in Thailand, and this is for sure!

Presuming you aren't Thai ..... you are very lucky to "own" any land.

What does either of these responses have to do with the OP's question? It's a well-known fact that foreigners cannot own land exclusively. He's asking how to obtain a fair or accurate value for a parcel of land that he (and/or others) are wanting to sell.

[Thighlander]

5-10K per wah in a mooban.

Depends VERY much on which moo baan. In the one where I rent a house it is closer to 25K per talang wah.

/ Priceless

In Chiangmai?

[Beetlejuice]

A sensible reply to the OP`s question is, NO.

The only official price value obtainable for land in Thailand is from the local land office, that may change after it is measured.

As for the market value, the only way is to make enquiries with local people that have similar land and plot sizes and to ask what these plots of land usually sell for or what they consider are the going rates in the area.

Other factors that determine a price, is would the land require topping up with soil for building etc, is there any electricity and water supply near by, is the land prone to flooding, is the land located in a residental area, industry area or a bit of both?

Also what paper is it? For example, Chanot or Nor Sor san.

[WinnieTheKhwai]

Before you make any accusation, please read what the OP asked!!

I want to sell some land but have no idea of it's true market value.

Of course we were puzzled how and when a non Thai can own a land? So what is wrong with our comment then, Smart Alec!!!

Since you asked, it's a tired comment that we've all heard before, and doesn't answer the question or add any new perspective. Every time someone dares to phrase a real estate question with the words 'I' and either 'buy' or 'sell' near each other there are a bunch of bitter Sad Alecs jumping on the topic.

Yes, we know; it's not smart, or funny.

[WinnieTheKhwai]

5-10K per wah in a mooban.

Depends VERY much on which moo baan. In the one where I rent a house it is closer to 25K per talang wah.

/ Priceless

In Chiangmai?

Of course; Think Ban Nai Fun, or the new Koolpunt development that's on the superhighway, so very close to town. And it depends on the amenities they put in; they're not all alike. Official developer's price where I live is 15K. And for some far away derelict developments the price may even be a little less than 5K.

[Priceless]

5-10K per wah in a mooban.

Depends VERY much on which moo baan. In the one where I rent a house it is closer to 25K per talang wah.

/ Priceless

In Chiangmai?

Yes

/ Priceless

[Priceless]

5-10K per wah in a mooban.

Depends VERY much on which moo baan. In the one where I rent a house it is closer to 25K per talang wah.

/ Priceless

In Chiangmai?

Of course; Think Ban Nai Fun, or the new Koolpunt development that's on the superhighway, so very close to town. And it depends on the amenities they put in; they're not all alike. Official developer's price where I live is 15K. And for some far away derelict developments the price may even be a little less than 5K.

I am sorry that I did not see your post until I had already replied to Thighlander's question. In fact I live in Baan Nai Fun 2, so you were spot on

/ Priceless

[ogb]

True market value?

(How long is a piece of string?)

Might be better trying to find the 'fair market value':

"The price that an interested but not desperate buyer would be willing to pay and an interested but not desperate seller would be willing to accept on the open market assuming a reasonable period of time for an agreement to arise"

If land transfer records are accurate, then it should not be that difficult to find 'fair market value' (which obviously changes over time, up and down)

[Jobo]

I've taken in all the responses and in answer to some here are some more points.

Having been here 15 years I am fully aware of all legalities of owning (or not) property in Thailand.

I am surely aware that I cannot "own" land. When I said "I" wanted to sell some land I did so on the premise that I paid for the land therefore I consider it's mine even if it's not

in my name!

I am also fully aware of the difficulties especially in Chiang Mai of establishing a market value for the property and that a "fair" value may be more appropriate as may be the

option of negotiating with a buyer who is not desperate to buy and the seller who is not desperate to sell as one poster suggested.

However in order to elicit some more responses here is some more detail of the land.

It is not in a Moo Ban. It is just over 5 rai in Hang Dong district and Nong Kwai sub disrict right behind Home In Park.

It is on a concrete road with electricity and telephone passing by. Town water is available but not connected

It is fully fenced.

It has not been land filled but there is no history of flooding in this area which is why "I" bought it.

There has been no land offered for sale or sold in this area for some time. I am aware of the valuation method suggested by looking at land sold recently is one way of determining

a value.

I will contact Century 21 as recommended but in the meantime any more views/opinions appreciated.

[Beetlejuice]

In that area, about 4000 a wah, 8 million baht for the 5 rai plot, if the good paper.

Edited October 2, 2011 by Beetlejuice

[MrBrad]

Before you make any accusation, please read what the OP asked!!

I want to sell some land but have no idea of it's true market value.

Of course we were puzzled how and when a non Thai can own a land? So what is wrong with our comment then, Smart Alec!!!

I assumed the land don't belongs to OP. But maybe the wifey's name . Non Thai cannot own land in Thailand, and this is for sure!

Presuming you aren't Thai ..... you are very lucky to "own" any land.

What does either of these responses have to do with the OP's question? It's a well-known fact that foreigners cannot own land exclusively. He's asking how to obtain a fair or accurate value for a parcel of land that he (and/or others) are wanting to sell.

I guess I touched a nerve. In his first month of participation veryruay has the heretofore unobserved distinction of engaging in name-calling on the Chiang Mai Forum, which is against the Forum rules. Large, bold, and red fonts are also bad netiquette.

Jai yen-yen.

[Jobo]

In that area, about 4000 a wah, 8 million baht for the 5 rai plot, if the good paper.

Thanks very much. Title is Nor Sor Sam which is as good as Chanote I believe.

[WinnieTheKhwai]

However in order to elicit some more responses here is some more detail of the land.

It is not in a Moo Ban. It is just over 5 rai in Hang Dong district and Nong Kwai sub disrict right behind Home In Park.

It is on a concrete road with electricity and telephone passing by. Town water is available but not connected

It is fully fenced.

It has not been land filled but there is no history of flooding in this area which is why "I" bought it.

There has been no land offered for sale or sold in this area for some time. I am aware of the valuation method suggested by looking at land sold recently is one way of determining

a value.

Nice. I looked at that exact area, I know it quite well, it's pretty scenic, yet convenient to get to town/airport/BigC. Five rai of course is a lot, a lot of people buying may not want (or won't be able to) buy that much. You may get more money if it's sub-dividable.

I actually know of two (separate) people who are looking to pay 2 million for a rai in that general area (so 5000 per sq. wa), but 5 rai may be too much to swallow for either one individually (not sure). Anyway, if 2 mil per rai is in the ballpark then send me a PM.

Edited October 2, 2011 by WinnieTheKhwai

[serenitynow]

In that area, about 4000 a wah, 8 million baht for the 5 rai plot, if the good paper.

Thanks very much. Title is Nor Sor Sam which is as good as Chanote I believe.

I disagree. You were being quoted the price if it were splittable into residential lots and infrastructure upgrades for that are m/l already in place.. NSS isn't going to allow you to do that. Divide by 2, at least IMO.

Edited October 2, 2011 by serenitynow

[WinnieTheKhwai]

In that area, about 4000 a wah, 8 million baht for the 5 rai plot, if the good paper.

Thanks very much. Title is Nor Sor Sam which is as good as Chanote I believe.

I disagree. You were being quoted the price if it were splittable into residential lots and infrastructure upgrades for that are m/l already in place.. NSS isn't going to allow you to do that. Divide by 2, at least IMO.

Seriously? If 4 million I'll arrange the money tonight.

Edited October 2, 2011 by WinnieTheKhwai

[serenitynow]

In that area, about 4000 a wah, 8 million baht for the 5 rai plot, if the good paper.

Thanks very much. Title is Nor Sor Sam which is as good as Chanote I believe.

I disagree. You were being quoted the price if it were splittable into residential lots and infrastructure upgrades for that are m/l already in place.. NSS isn't going to allow you to do that. Divide by 2, at least IMO.

Seriously? If 4 million I'll arrange the money tonight.

Nor Sor Sam is not splittable, thus the "per wah" price goes out the window. Arrange for financing tonight (if you can finance NSS) if you like, but as a wise man once told me with respect to buying investments, "all the money you might hope to make is made on the day you buy it, not on the day you sell it."

[WinnieTheKhwai]

Nor Sor Sam is not splittable, thus the "per wah" price goes out the window. Arrange for financing tonight (if you can finance NSS) if you like, but as a wise man once told me with respect to buying investments, "all the money you might hope to make is made on the day you buy it, not on the day you sell it."

I hope you're right.. I await Jobo's PM then.