Selling property up country ,, HOW?

[liddelljohn]

I have recently have been left a 30 unit bungalow thai style rental property and shop for workers on 3 rai of land between kabinburi and sakaeo ,,have 1 year to either sell it or transfer ownership to a thai ....or put it in a company but i dont need the hassle so want to sell it on ......

in pattaya or Bangkok i know how to buy and sell property and there are proper real estate agents ,,, but all my researches have not found a way to effectively sell this property ,, its worth between 4.5m to 5 million baht apparently ...i have put up billboards and spoken to local people but most dont have access to to the funds

real estate agents in pattaya or Bangkok are no use for such a thing and in Kabinburi , prachinburi and Sakaeo I have not found any proper real estate offices

any ideas

[Khun Jean]

Basically the only need you have is to find someone who is interested to buy it.

A recent invention called the internet is the best solution for that.

Place ads on every site you can find. Please use good overall pictures, a picture of a bathroom sink does not cut it.

Then wait. Basically you are then doing what a broker does, only now you have direct contact and can make decisions faster.

Once a buyer is found it is pretty simple, go to the land office, transfer the deed and money.

Edited November 25, 2013 by Khun Jean

[worgeordie]

For a good start you can use ThaiVisa classifieds or BhatSold ,they both do paid and for

free adverts I have had good results with both,

Your best trying to do it yourself as most estate agents are not worth it,too much hassle

with them.

regards Worgeordie

[khunPer]

In some of the more major Towns up at Isaan, there are real estate agents – and I've also seen some banks having billboards for real estate (do not know how that works). May be worth looking around the area as a supplement, as you probably may not find a Thai buyer/invester through Internet or Thai Visa Forum.

[winstonc]

depends how desperate you are to sell..2.5 million and someone would bite your hand off i presume..good luck

[worgeordie]

In some of the more major Towns up at Isaan, there are real estate agents – and I've also seen some banks having billboards for real estate (do not know how that works). May be worth looking around the area as a supplement, as you probably may not find a Thai buyer/invester through Internet or Thai Visa Forum.

The properties the Banks advertise are their own foreclosed properties,

Like I said try ThaiVisa or BhatSold they are free so nothing to loose

maybe everything to gain.

regards Worgeordie

[ozyjon]

Start talking to the locals and telling them your story, put up as many billboards as possible (on the main road even) and good luck, send the word out to as many people as possible, might be a good business investment for someone. PS do as the banks do it,, write it on a white background with red writing,, many people will know what it means.

[bangarang]

Find all the the thai real-estate property sites and list it. Especially ddproperty.com Real Estate agents can be good but in todays world people do all their searching on the internet so post it in as many places as you can online. It also makes it easier for people in different parts of the country to find you without having to travel first.

[HUAHIN62]

If the locals aren't biting you are asking too much or have not offered the customary 3% commission. Normally at the right price someone will know someone who will be interested. Just for interest sake is it 30 bungalows, if so you could pocket B 40 000 to B 60 000 per month on the rental which could placing it into a company worth while. You could appoint some local to collect the rent and give 10% of the monthly rental.

[VisaProblem]

Advertising in ThaiVisa classifieds or BhatSold is in English and aimed at foreigners, so you will be advertising to 1% of who is in this country, and NOT advertising to the 99%. so basically a waste of time if you have a rural THai type property.

the best two property websites in thailand in Thai language for the Thais are: www.ddproperty.com , which is very good. also, www.prakard.com but which is more urban and condo'ish.

http://www.teedinthai.net/Eastland.aspx is a property agent who is probably worth calling as they are quite active in the central east of thailand

you could also auction it via the Glom Bangkaap Kadi who will auction properties from non-credit defaulters: http://asset.led.go.th/newbid/asset_search_map.asp

All of these sites are in Thai for the Thais, and none of them will realise any prices above a Thai to Thai deal, but if you want eye-balls on your adverts, this is where to get them.

hope this helps.

Edited November 25, 2013 by VisaProblem

[liddelljohn]

Max rental is 32k a month if all full ,,thats probably unlikely ,the shop turns over abouit 5k every day , The local land office told me that 3 rai next to main highway is worth 1,2M alone only 1 rai has been built on so far , and too construct the existing buildings would cost 1.5m-2m + and put in power and water and phone line for internet would cost 400k ,this was all done 6 years ago so its worth at least 3million ,

i have had offers from 3 thais one guy ownds 5 local 7-11 franchise another owns 2 fuel stations and 30 agricultural trucks for 3.8m which I accepted but they have all pulled out , they cant get the banks to finance the purchase ,,,

I have offered 3% commission to any one who gets me a sale ,

language problems and fact theat i am 3 hours away and spend a lot of time going abroad for work means its not easy to manage a sale campaign thats whuy a proper agent would be so nice ., i now only have 5 months to sell it or transfer to a Thai name or company, not really good options ,

[VisaProblem]

You may find any new purchasers may want to re-assign the land use, so may view many of the buildings as a hinderance or liability as they will have to pay for them to be flattened and the land resoiled a bit. I would drop the price, get a Thai put the property online on ddproperty.com, and then call the property agency http://www.teedintha...t/Eastland.aspx

Edited November 25, 2013 by VisaProblem

[LennyW]

Max rental is 32k a month if all full ,,thats probably unlikely ,the shop turns over abouit 5k every day , The local land office told me that 3 rai next to main highway is worth 1,2M alone only 1 rai has been built on so far , and too construct the existing buildings would cost 1.5m-2m + and put in power and water and phone line for internet would cost 400k ,this was all done 6 years ago so its worth at least 3million ,

i have had offers from 3 thais one guy ownds 5 local 7-11 franchise another owns 2 fuel stations and 30 agricultural trucks for 3.8m which I accepted but they have all pulled out , they cant get the banks to finance the purchase ,,,

I have offered 3% commission to any one who gets me a sale ,

language problems and fact theat i am 3 hours away and spend a lot of time going abroad for work means its not easy to manage a sale campaign thats whuy a proper agent would be so nice ., i now only have 5 months to sell it or transfer to a Thai name or company, not really good options ,

Why not create your own Thai company and buy it for a baht?

[MichaelJohn]

DDProperty.com is one of the biggest internet property agents and well worth a try.

[SeabagsFull]

A couple of years after building our house in Udon Thani, my wife & I decided to sell. So we made up fliers in color, in English on one side & Thai on the other. Then we passed them out to a few friends & shops with a promise of 3% sales commission. Within only a few days, we had an offer of the 7M baht we were asking.

As we walked the potential buyer's wife though the house, explaining this & that, my wife & I began to realize we were not ready to let go of our "dream house," that staying put would offer a more stable atmosphere for my wife's studies at UDRU.

Years later when we were ready, I found three local Realtors via an Internet search. After visiting -- & researching -- each, we chose one. The owner liked our original flier & used a slightly modified version on his Web site.

The village had somewhat degraded over the years, primarily due to developer mismanagement & HOA disintegration; consequently, our local friends said we would never get more than 6M baht. Though it took a couple of months, we managed to get 7.2M baht for our home (i.e., we turned down several 7M baht offers early on, but tried holding out for 7.5M baht). There's no question that the flier made a big difference, as well as our spending maybe 200K baht on curb-appeal improvements.

Edited November 25, 2013 by SeabagsFull

[gugabh]

I have a question. How did bought a property in his name? The government told me that foreigners can not buy land. Only apartments or condo. I was looking to buy a house.

Sent from my GT-I9505 using Thaivisa Connect Thailand mobile app

[louse1953]

I rekon his wife passed away and it was willed to him.Watch the "offers" come in with one month to go.I would set up a company,to get a bit of breathing space.

[Aussieroaming]

Sounds like you inherited a headache.

Any chance of converting it into a family mansion?