Squatters in desired home for sale by bank

[assayer]

We have found a home we wish to purchase from a bank repo. The fine print in the bank notice says that any needs to move squatters is up to the interested purchaser. Can anyone tell me what my actual and realistic options are for moving these squatters from the home will be?

[slapout]

Mark the fine print clause out of the contract, tell the bank, when premises cleared for your legal move in, you will continue with the purchase of said property.

[Crossy]

I reckon slapout has it right, let the bank remove these people, or move on and find somewhere that doesn't have squatters.

[JaiLai]

@ Assayer

How do you find out about the repo's from back, i thought it was a nice little money making scheme for the bank employee's and all their cronies?

Thanks.

[Thanyaburi Mac]

Hey, he might be talking about the toilets, "squaters" as opposted to "sitters." No??

Mac

[farang000999]

Hire a fortune teller to come by and give them a free reading - that the home has ANGRY GHOSTS!

[stoneyboy]

Why would anyone in their right mind wish to purchase a house with squatters in ?

Can the OP enlighten us to the reason,apart from the possibility of being inexpensive as to why this choice.

Buying and moving into a new home is always pretty stressful enough without this little hidden agenda.

[EyesWideOpen]

Contact the local police, show you have legal right to the home, pay them a couple of thousand baht, and they will have those squatters will be out in ten minutes.....

That is how the Thais do it..

[ToddWeston]

Contact the local police, show you have legal right to the home, pay them a couple of thousand baht, and they will have those squatters will be out in ten minutes.....

That is how the Thais do it..

100% correct inlaws have a vacant piece of land they want to sell and a family of squatters they paid the BIB 8000 baht and gave 2000 to the squatters to hire a truck to move - all was done in less than an hour.

[maccaroni man]

I have purchased several NPL at bank auction and squatters are an issue. I typically do as much background checking as possible to make sure there is no bad blood from family members who lost their property to the bank. If all looks good from that end and all that needs to be dealt with is a stray squatter the BIB can manage it easily. Best to post a security guard there for a month after they are booted.

[assayer]

I reckon slapout has it right, let the bank remove these people, or move on and find somewhere that doesn't have squatters.

Thans slappout and crossy, This may be the best option to avoid any problems. BUT----- I have never been one to avoid problems.

[assayer]

Why would anyone in their right mind wish to purchase a house with squatters in ?

Can the OP enlighten us to the reason,apart from the possibility of being inexpensive as to why this choice.

Buying and moving into a new home is always pretty stressful enough without this little hidden agenda.

Thanks for the thought Stoneyboy, maybe I am crazy!!! But my Mommy always taught me to count and save my pennys, cause the dollars will always be there.

[assayer]

Contact the local police, show you have legal right to the home, pay them a couple of thousand baht, and they will have those squatters will be out in ten minutes.....

That is how the Thais do it..

100% correct inlaws have a vacant piece of land they want to sell and a family of squatters they paid the BIB 8000 baht and gave 2000 to the squatters to hire a truck to move - all was done in less than an hour.

Thanks guys, this is how I will probably approach it

[assayer]

I have purchased several NPL at bank auction and squatters are an issue. I typically do as much background checking as possible to make sure there is no bad blood from family members who lost their property to the bank. If all looks good from that end and all that needs to be dealt with is a stray squatter the BIB can manage it easily. Best to post a security guard there for a month after they are booted.

Thanks for the info Maccaroni man, do you find the properties purchased are below market value?

[assayer]

Hey, he might be talking about the toilets, "squaters" as opposted to "sitters." No??

Mac

Hey Mac,

Maybe you should get your head out of your "sitter" and look at the sunshine a little while.

[assayer]

@ Assayer

How do you find out about the repo's from back, i thought it was a nice little money making scheme for the bank employee's and all their cronies?

Thanks.

Hello JaiLai,

Most of the banks have a website for property sales. Some are only in Thai so have to have my wife read them or trust good ole Google translate!!

[dave2]

re

How do you find out about the repo's

errr ummmm errrrr

how can i say this ?

they put them on notice boards like these

in or outside the banks

havnt you noticed ?

dave2

conspiracy theory >>> fail !

[benalibina]

re

How do you find out about the repo's

errr ummmm errrrr

how can i say this ?

they put them on notice boards like these

in or outside the banks

havnt you noticed ?

dave2

conspiracy theory >>> fail !

Yeah, well .......... my compliments for your very constraint comment.....

[Chao Lao Beach]

Careful of that 10 year rule. Anyone know more about the rights after 10 years?

[assayer]

Careful of that 10 year rule. Anyone know more about the rights after 10 years?

This is something I have not heard of. Can you tell me more about it?

[assayer]

re

How do you find out about the repo's

errr ummmm errrrr

how can i say this ?

they put them on notice boards like these

in or outside the banks

havnt you noticed ?

dave2

conspiracy theory >>> fail !

Not everyine in LOS uses the same bank, I have lived here for 7 years and have never been into a Siam Bank, therefore never seen their postings either.

[dave2]

re

Not everyine in LOS uses the same bank, I have lived here for 7 years and have never been into a Siam Bank, therefore never seen their postings either.

krung thai ?

dave2

[jacko45k]

Contact the local police, show you have legal right to the home, pay them a couple of thousand baht, and they will have those squatters will be out in ten minutes.....

That is how the Thais do it..

That sort of presumes one would have to go ahead with the purchase and accepting the selling bank's stipulation that the squatters are the buyer's problem.

I am not sure I would want to even pursue the purchase.

I know somebody in this circumstance... living in a house that the bank now owns.

He claims the bank likes the idea of someone occupying the property to watch over it, although I couldn't get the detail whether my acquaintance was renting or squatting himself.

[KittenKong]

BUT----- I have never been one to avoid problems.

Indeed. Anyone prepared to put his own real money into a property that he cant legally own in a country that he (probably) has no right of abode in, and which has squatters in it as well clearly is not in search of an easy life.

[assayer]

BUT----- I have never been one to avoid problems.

Indeed. Anyone prepared to put his own real money into a property that he cant legally own in a country that he (probably) has no right of abode in, and which has squatters in it as well clearly is not in search of an easy life.

Thanks for the reply mz puzzydong, but follow my reasoning and see if it doesn't make sense even to you.

First I have to either pay rent or make a mortgage payment; it's the same money either way. If I register this property in my business name I then have legal rights to own it.As to no right of abode in LOS, I have been legally married to my Thai wife for 5 years now, so I believe that gives me the right of abode. As for the squatters, answering your reply may be as big a problem as them.

Don't be so quick to put down people and their ideas and you will have a much more satisfying and happy life!!!!!!

[Phronesis]

Don't rush in to buy a repo property that has hair on it. There will be a flood of these types of properties coming to market in the next year or two as the Thai economy implodes.

How does one say "upside down mortgage" in Thai?

[Chao Lao Beach]

Careful of that 10 year rule. Anyone know more about the rights after 10 years?

This is something I have not heard of. Can you tell me more about it?

I believe that if a squatter has continuously occupied a property for 10 years, they can legally claim it.

[xen]

Careful of that 10 year rule. Anyone know more about the rights after 10 years?

This is something I have not heard of. Can you tell me more about it?

I believe that if a squatter has continuously occupied a property for 10 years, they can legally claim it.

There are rules like that everywhere but few tend to be exploited. I have heard of people gaining legal right of way after a period of time and some property can be gained by paying back taxes. I would say Thailand would have similar .

[JaiLai]

re

How do you find out about the repo's

errr ummmm errrrr

how can i say this ?

they put them on notice boards like these

in or outside the banks

havnt you noticed ?

dave2

conspiracy theory >>> fail !

Everyone's a smart arse....

My point being that in my experience there is always a monopoly with bank employees when a decent deal comes up, if there's decent money to me made and they have the resources why on earth would they do it 'fairly'?

[bbbbooboo]

ummm...put up a no trespassing sign, give them a couple of warnings then shoot them?