Land In The Dark Side

[Brunus]

My wife was thinking about buyng 60/70 square wha in soi kao noi and build a 2 storey house on it. How much would it cost? I mean how much the land and the house, separate? Is it worth it? It's her money but being my wife I would like to be sure she doesn't get rip off. Thank you all for the help

[prk888]

i have no idea but i would visit estate agents and simply ask them how much land would cost in that area and do they have any to sell. Or is that too easy?

[Paul1Kanya]

Hi, Ask the missus to visit the land office on Soi 17, if she asks nicely and maybe pay no more than 200 baht she will be told the median or land office assessed value.

It will of course not represent the retail price but calculate up around 30% or so. Obviousely land in developments will cost more as the infrastructure will be in place.

Beware though especially if she has 'friends' who know someone who knows someone etc.

Paul1.

[FarangBuddha]

i have no idea but i would visit estate agents and simply ask them how much land would cost in that area and do they have any to sell. Or is that too easy?

I have just the opposite advice...stay the h#ll away from any and all Pattaya property pimps (aka "estate agents") as for the most part they are useless fools with no greater knowledge of the property market or laws regarding real property in Thailand than anyone else. You wife has the right idea...first start at the land office and see what the official assessed value of land is in the area...this is a good place to start but as you say, is not likely the current market price. She should just walk around the area she is interested in and look like someone interested in buying land and she will meet locals or current property owners (or get the numbers of owners from current occupants/neighbors) and deal with them directly. After she has found land for sale and dealt directly with the owner/seller, then it's time to bring in a qualified THAI lawyer to perform due diligence on the property (check title, mortgages, or any other encumberences) and draw-up the purchase contract and deal with the land office.

[Brunus]

Thanks Paul and FarangBuddha. We'll follow your advices and try to understand how much is worth spending