usasia8888 Posted May 16, 2014 Share Posted May 16, 2014 I read in the Phuket Gazette there is a big real estate auction with like 500+ properties from condos, villas, etc. Seems like a clearing out of unused property and potentially great discounts? Obviously need to check the property but what's this all about? Link to comment Share on other sites More sharing options...
Bernard Flint Posted May 16, 2014 Share Posted May 16, 2014 Be careful Suthep doesnt get involved with this 2 Link to comment Share on other sites More sharing options...
steelepulse Posted May 16, 2014 Share Posted May 16, 2014 (edited) From what I read, it's developers that couldn't move properties and they are now offering "discounts" of between 15-25% off of the listing price. It's not a traditional auction http://www.thephuketnews.com/500-phuket-homes-to-be-auctioned-off-this-weekend-46257.php What will be more interesting will be the sealed bid auction, later in the month. That will help give a better idea of actual values. Edited May 16, 2014 by steelepulse 1 Link to comment Share on other sites More sharing options...
stevenl Posted May 16, 2014 Share Posted May 16, 2014 Yes, agree. Easy to claim big discounts if your original prices are so high the goods are not selling. 1 Link to comment Share on other sites More sharing options...
KarenBravo Posted May 16, 2014 Share Posted May 16, 2014 Most of these auctions are fixed from the get go. 1 Link to comment Share on other sites More sharing options...
usasia8888 Posted May 16, 2014 Author Share Posted May 16, 2014 From what I read, it's developers that couldn't move properties and they are now offering "discounts" of between 15-25% off of the listing price. It's not a traditional auction http://www.thephuketnews.com/500-phuket-homes-to-be-auctioned-off-this-weekend-46257.php What will be more interesting will be the sealed bid auction, later in the month. That will help give a better idea of actual values. very interesting. looks like it may show some clarity to the market of real prices in those areas and types. Of course bidder beware of developers jacking up the initial price and applying a discount to make it look like a steal when it is not. I am sure most people will not be fooled but the world never ceases to amaze me of stupidity. thank you for supplying the link. Link to comment Share on other sites More sharing options...
obnoxious troll Posted May 16, 2014 Share Posted May 16, 2014 (edited) hmf no more visa runs has struck already would i be interested, not on your nelly. Edited May 16, 2014 by obnoxious troll Link to comment Share on other sites More sharing options...
Shot Posted May 16, 2014 Share Posted May 16, 2014 (edited) ^^^ Is that an Irish coffee? Edited May 16, 2014 by Shot Link to comment Share on other sites More sharing options...
nedkellylives Posted May 16, 2014 Share Posted May 16, 2014 There will be no auction of property unless they have reserved prices A auction where the highest bid buys will not happen 1 Link to comment Share on other sites More sharing options...
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