House Valuation

[Pattaya28]

I need to have my house officially valued.

Any suggestions where I can find a reputable company for this ?

[steve187]

On here, someone will be along that knows all about house valuations.

On a serious note maybe one of the larger estate agents.

or the bank if they will be involved

[BoneRanger]

You need to go around and look at properties that compare to yours.

I'd hire an agent to show you what is for sale around your area.

[Gsxrnz]

It's worth approximately 50% of what you paid for it.

[OMGImInPattaya]

Nope. Their guess would be about as good as anyone else's.

[ThaiBob]

Besides reputable estate agents (and they do exist), try using a Thai and go through the motions of applying for a mortgage. The bank will appraise the property and that carries more weight than what any agent might say.

[ATF]

Anything is only worth what someone is willing to pay for it.

However my first step would be the land department they have a list of land prices all over Pattaya.

You can then make an accurate calculation of how much the house would cost to rebuild.

Unless you are in a prime spot the value has probably decreased. Thai's avoid secondhand houses because of ghosts.

[fosseway]

Agree with ATF re. the Land Department value, and the Ghosts, and that may be a good starting point, however, Land Office valuations have now been raised, they are still well below the true value, for example, a friend has just bought an Ocean front Condo in Jomtien for 7.5 Million Baht, the L.O valuation was 5.2 Million. My Thai friend bought a house last year for I Million baht, the L.O. valuation was 700K.

[ATF]

fosseway, on 08 Jan 2015 - 20:20, said:

Agree with ATF re. the Land Department value, and the Ghosts, and that may be a good starting point, however, Land Office valuations have now been raised, they are still well below the true value, for example, a friend has just bought an Ocean front Condo in Jomtien for 7.5 Million Baht, the L.O valuation was 5.2 Million. My Thai friend bought a house last year for I Million baht, the L.O. valuation was 700K.

The lower valuation is for tax purposes so you don't have to pay so much transfer tax. The land dept value is the absolute minimum they will accept on a taxable basis.

[fosseway]

fosseway, on 08 Jan 2015 - 20:20, said:

Agree with ATF re. the Land Department value, and the Ghosts, and that may be a good starting point, however, Land Office valuations have now been raised, they are still well below the true value, for example, a friend has just bought an Ocean front Condo in Jomtien for 7.5 Million Baht, the L.O valuation was 5.2 Million. My Thai friend bought a house last year for I Million baht, the L.O. valuation was 700K.

The lower valuation is for tax purposes so you don't have to pay so much transfer tax. The land dept value is the absolute minimum they will accept on a taxable basis.

Agree