Land In Chaiya Phuum

[mrbojangles]

Hi guys,

The Mrs called home yesterday (a village outside Chaiya Phuum) and her father said one of the locals wants to sell some land. Currently it has lots of Mango Trees on it producing Fruit but still plenty of space to build a house on. This guy has loads of land in the area and i think he just wants to release some equity.

Anyway, it's about 3 1/2 Rai, he wants 300,000 baht for it, paying 150,00 this year and the same next year. Of course if i go ahead and buy it, i'll want a bit knocked off for paying it all in one go

I personally haven't seen it yet but will go next month. Assuming everything is in order, paperwork, titles etc. Is this a fair price, rip off or dirt cheap, for that amount of land in that area.

Cheers for any advice

MrBoJ

[Gary A]

I recently bought 10 rai in Loei province for 18,000 baht per rai. Dirt road, no electric and no water. I saw another parcel for sale on a good paved road with electricity but no water. This one and the one I bought are about two or three kilometers apart. I had my wife call and the guy wanted 500,000 baht per rai. The land is worth whatever you are willing to pay for it. If you like it buy it. They aren't making any more of it and I doubt that land prices will go down. A friend of mine just bought several rai for 850,000 per rai about 15 kilometers from Pattaya.

Hi guys,

The Mrs called home yesterday (a village outside Chaiya Phuum) and her father said one of the locals wants to sell some land. Currently it has lots of Mango Trees on it producing Fruit but still plenty of space to build a house on. This guy has loads of land in the area and i think he just wants to release some equity.

Anyway, it's about 3 1/2 Rai, he wants 300,000 baht for it, paying 150,00 this year and the same next year. Of course if i go ahead and buy it, i'll want a bit knocked off for paying it all in one go 

I personally haven't seen it yet but will go next month. Assuming everything is in order, paperwork, titles etc. Is this a fair price, rip off or dirt cheap, for that amount of land in that area.

Cheers for any advice

MrBoJ

<{POST_SNAPBACK}>

[GuestHouse]

Before you buy land from anyone else go into each of the local banks and ask them what land they have for sale in the area. Then go to the court office and ask them what land they have for sale in the area.

That will at least give you an idea of prices in the area, it might turn up a bargain (and land bought from banks and courts is secure in the ownership - not always the case of land bought from Somchai)

If you are buying land, pay one shot, one day. Non of this pay half now nonsense. A year from now the price may well have changed and/or the first payment completely forgotten.

Before you buy any land, get the title inspected, confirm that it has not been used as collateral on a debt and agree who is paying taxes.

As a general note land held under the title of a Chanote Deed is what you should be looking for.

[Gary A]

I was told also that the seal on the chanote must be red. If it is not a red seal the property has restrictions of some type depending on what color the seal is.

Before you buy land from anyone else go into each of the local banks and ask them what land they have for sale in the area. Then go to the court office and ask them what land they have for sale in the area.

That will at least give you an idea of prices in the area, it might turn up a bargain (and land bought from banks and courts is secure in the ownership - not always the case of land bought from Somchai)

If you are buying land, pay one shot, one day. Non of this pay half now nonsense. A year from now the price may well have changed and/or the first payment completely forgotten.

Before you buy any land, get the title inspected, confirm that it has not been used as collateral on a debt and agree who is paying taxes.

As a general note land held under the title of a Chanote Deed is what you should be looking for.

<{POST_SNAPBACK}>

[Morden]

Mr Bo,

Only someone with knowledge of the locality could give an accurate and useful answer to your question about value for money. However, in addition to the replies that you have received already, I would urge some caution.

If the owner really does have a lot of land and wants to release some equity over the next 12 months, he won't be selling his best few rai. So, you need to check where it is in relation to metalled roads, water and electricity. Even if you only want to grow mango for the family, your will need water. If you want to live there, you will need power. If you want, for example, to have a shop, you need to be on a road that carries traffic. Above all, the land must directly abutt a highway or at least have some right of access. Check the chanoot to see how many joint owners are selling the land.

However, it may be just what you want and a great bargain. Your wife's family is, I am sure, well respected in the village. If the land owner is similar, he will agree through them a reasonable price and wait for a little while until you get there to inspect the land and make up your own mind. You must see it for yourself, even at the risk of losing it. We were introduced to some land near to Pak Thong Chai in much the same circumstances as yours. A farang had made a good offer but had not returned. The owner dropped the price because of our connection with the village and agreed a date by which we would visit and make a decision. I was present at every step of the way, even for the Land Office surveyors visit - an event that proved to be to our advantage when it was found that the boundaries were shown incorrectly on the chanoot.

At the risk of teaching granny to suck eggs, you will find that you will have to be present at the formalities in the Land Office. You cannot own the land, of course, and you will have to sign a declaration that says the purchase money is your wife's, the land will be hers and you will have no rights over it. At the Land Office, count the owners to make sure that they are all present in person to sign where and when the clerk tells them!

Finally, give no money to the landowner until the documents are all signed at the Land Office. Agree in advance who will pay for the transfer fee. Pay him 100% of the pruhase price as soon as the documentation is complete. You may have to wait a few weeks for the updated chanoot but that's not a problem.

I'm sorry if all of that is already known to you but it is important, I think. If you are happy with all of the issues that I mention and any that you can think of yourself, then I would hazard a guess that, to say the least, you and your wife can't lose. Or, at least, you wife can't.

Good luck!

[JRinger]

Hi guys,

The Mrs called home yesterday (a village outside Chaiya Phuum) and her father said one of the locals wants to sell some land. Currently it has lots of Mango Trees on it producing Fruit but still plenty of space to build a house on. This guy has loads of land in the area and i think he just wants to release some equity.

Anyway, it's about 3 1/2 Rai, he wants 300,000 baht for it, paying 150,00 this year and the same next year. Of course if i go ahead and buy it, i'll want a bit knocked off for paying it all in one go 

I personally haven't seen it yet but will go next month. Assuming everything is in order, paperwork, titles etc. Is this a fair price, rip off or dirt cheap, for that amount of land in that area.

Cheers for any advice

MrBoJ

<{POST_SNAPBACK}>

A friend purchased 2.5 rai in a village just outside Chaiya Phum, Ban Kwaow (silk village), next to public road (dirt), power, water (nam prapah), trees...he paid 50k per rai....

[mrbojangles]

Thanks for all the replies guys, they have given me alot of food for thought. Although the money is no great amount and an amount that i am prepared to forget about. I don't mind paying a fair price but i hate being ripped off no matter how small the sum involved.

Although i realise many factors are involved in valueing land i.e. water, roads electricity etc i was just looking for a "ball park" figure from somebody who lives in that area. But it really is a lottery. So me and the mrs are going over in a few weeks, i'll take some piccies and get some more detailed info and get back to you.

Thanks again guys, i've got a good check list now as to what to look out for.

[Morden]

You're doing the right thing. If you let the owners know that you are coming over and will let them have a decision about the purchase by a given date, I'm sure that they will wait for you.

In the meantime, remember not to do or say anything that may cause loss of face for your wife, her family or the land owner. The slightest hint of a committment and there will be serious embarrassment for them if you don't go ahead.

I don't think that you will be ripped off provided that no creditor has a hold over the land and all of the owners are present to sign it over at the Land Office. You won't need a lawyer because the Land Office does all of the checks. The surveryors may say that they can't do the survey for a few weeks but, as you know, there are ways of speeding up the process! You won't be buying the land until the surveyors have checked the chanoot scale plan.

As to whether it's worth the asking price, well, as you say, it's not a lot of money. If it's what you want, it's worth it. Have the money readily available in cash before you all trot off to the Land Office. You don't pay for it at the time the ownership is transferred. You all go somewhere private afterwards in case 'bad man see'.

I don't claim to be the world's expert in buying land in Thailand (or, rather, paying for the wife to buy it!) but I have done much the same as you are contemplating in recent months. If you have any questions while you're out there I'd be glad to help as best I can. We fly out in a few weeks too so I would need to let you know how to get in touch. If you are interested, PM me and I'll let you have my personal contact details.

Good luck with the trip! I had great fun doing our deal.

[chownah]

Morden suggests transfering the money in some private place. On the two occasions that we purchased land we transferred the money right at the land office sitting in the waiting area a bit apart from everyone else but in plain view of god and everyone....so don't be surprised if that's what the seller wants to do. You should figure out where you will transfer the money and reach an agreement on this before you go to the land office.

[Heng]

Recommend doing it at the land office. Deposit money plus contract signing one (two signing witnesses, + the buyer and seller, one from their side, one from your side is usually pretty standard) can do anywhere, but IMO the lump sums should be paid at the office. Also, in my experience, having your name typed up on the next line as deed holder on the back as the new owner doesn't take weeks, on average it takes us about half an hour. This is for Bangkok and Chonburi. Your mileage may vary.

[mrbojangles]

In the meantime, remember not to do or say anything that may cause loss of face for your wife, her family or the land owner. The slightest hint of a committment and there will be serious embarrassment for them if you don't go ahead.

Thanks for all the tips and offer of help Morden, much appreciated and the point you made above is one for me to really remember. Totally different way of doing business than in the uk